Point72 Asset Management L.P. Invests $6.68 Million in Interface, Inc. (TILE)

Point72 Asset Management L.P. acquired a new position in shares of Interface, Inc. (NASDAQ:TILE) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 305,200 shares of the textile maker’s stock, valued at approximately $6,684,000. Point72 Asset Management L.P. owned 0.50% of Interface at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Zions Bancorporation purchased a new position in Interface in the third quarter valued at approximately $118,000. OxFORD Asset Management LLP raised its holdings in Interface by 22.9% in the third quarter. OxFORD Asset Management LLP now owns 37,610 shares of the textile maker’s stock valued at $829,000 after buying an additional 7,010 shares during the period. KBC Group NV raised its holdings in Interface by 487.7% in the third quarter. KBC Group NV now owns 39,880 shares of the textile maker’s stock valued at $873,000 after buying an additional 33,094 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Interface by 3.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 445,668 shares of the textile maker’s stock valued at $9,761,000 after buying an additional 15,282 shares during the period. Finally, WINTON GROUP Ltd raised its holdings in Interface by 152.4% in the third quarter. WINTON GROUP Ltd now owns 109,006 shares of the textile maker’s stock valued at $2,387,000 after buying an additional 65,811 shares during the period. Institutional investors and hedge funds own 93.20% of the company’s stock.

Shares of Interface, Inc. (NASDAQ TILE) opened at $24.25 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.51 and a quick ratio of 1.40. Interface, Inc. has a 1 year low of $17.17 and a 1 year high of $25.70. The stock has a market cap of $1,461.09, a P/E ratio of 21.27 and a beta of 1.35.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Wednesday, October 25th. The textile maker reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Interface had a net margin of 5.53% and a return on equity of 21.39%. The company had revenue of $257.43 million during the quarter, compared to the consensus estimate of $255.63 million. During the same quarter last year, the company earned $0.25 earnings per share. Interface’s revenue for the quarter was up 3.7% on a year-over-year basis. equities research analysts forecast that Interface, Inc. will post 1.15 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Friday, November 10th were given a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, November 9th. Interface’s dividend payout ratio (DPR) is 30.59%.

In other Interface news, Director Christopher G. Kennedy sold 29,500 shares of the 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel T. Hendrix sold 5,000 shares of the stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $21.45, for a total transaction of $107,250.00. The disclosure for this sale can be found here. Insiders sold 78,000 shares of company stock valued at $1,735,820 in the last ninety days. 1.90% of the stock is owned by corporate insiders.

Several research analysts recently commented on the stock. BidaskClub lowered shares of Interface from a “buy” rating to a “hold” rating in a report on Thursday. Zacks Investment Research upgraded shares of Interface from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Saturday, October 28th. Nomura raised their price target on shares of Interface from $24.00 to $28.00 and gave the company a “buy” rating in a report on Friday, October 27th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $23.00 price target on shares of Interface in a report on Thursday, October 26th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $25.67.

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Interface Company Profile

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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