Interface, Inc. (TILE) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in Interface, Inc. (NASDAQ:TILE) by 5.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 489,015 shares of the textile maker’s stock after selling 29,748 shares during the period. Principal Financial Group Inc. owned 0.79% of Interface worth $10,709,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TILE. KBC Group NV bought a new position in shares of Interface in the second quarter valued at approximately $133,000. Victory Capital Management Inc. raised its stake in shares of Interface by 17.6% in the second quarter. Victory Capital Management Inc. now owns 7,846 shares of the textile maker’s stock valued at $154,000 after acquiring an additional 1,175 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of Interface in the second quarter valued at approximately $224,000. BlueCrest Capital Management Ltd bought a new position in shares of Interface in the second quarter valued at approximately $249,000. Finally, Capital Fund Management S.A. bought a new position in shares of Interface in the second quarter valued at approximately $273,000. Institutional investors own 93.13% of the company’s stock.

Shares of Interface, Inc. (NASDAQ:TILE) opened at $24.90 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.51 and a debt-to-equity ratio of 0.66. The firm has a market cap of $1,503.26, a P/E ratio of 21.89 and a beta of 1.34. Interface, Inc. has a fifty-two week low of $16.80 and a fifty-two week high of $25.70.

Interface (NASDAQ:TILE) last issued its quarterly earnings results on Wednesday, October 25th. The textile maker reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. The business had revenue of $257.43 million during the quarter, compared to analyst estimates of $255.63 million. Interface had a net margin of 5.53% and a return on equity of 21.39%. Interface’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 earnings per share. research analysts expect that Interface, Inc. will post 1.15 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Friday, November 10th were issued a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Thursday, November 9th. Interface’s dividend payout ratio is currently 30.59%.

A number of research analysts have recently issued reports on TILE shares. Zacks Investment Research upgraded shares of Interface from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Saturday, October 28th. Nomura lifted their target price on shares of Interface from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $23.00 target price on shares of Interface in a research note on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $23.50.

In related news, Director Christopher G. Kennedy sold 29,500 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $21.92, for a total value of $646,640.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel T. Hendrix sold 27,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $22.95, for a total transaction of $619,650.00. The disclosure for this sale can be found here. In the last three months, insiders sold 92,450 shares of company stock valued at $2,018,267. 1.90% of the stock is currently owned by company insiders.

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About Interface

Interface Inc is engaged in design, production and sale of modular carpet, also known as carpet tile. As of January 1, 2017, the Company marketed its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company operates through three segments: Americas, Europe and Asia-Pacific.

Institutional Ownership by Quarter for Interface (NASDAQ:TILE)

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