Interface, Inc. (TILE) Shares Sold by Stone Ridge Asset Management LLC

Stone Ridge Asset Management LLC cut its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 72.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,724 shares of the textile maker’s stock after selling 36,134 shares during the quarter. Stone Ridge Asset Management LLC’s holdings in Interface were worth $196,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. First Trust Advisors LP increased its holdings in Interface by 163.5% in the 3rd quarter. First Trust Advisors LP now owns 51,782 shares of the textile maker’s stock worth $1,209,000 after acquiring an additional 32,127 shares during the last quarter. Prudential Financial Inc. boosted its stake in Interface by 12.3% in the 3rd quarter. Prudential Financial Inc. now owns 187,264 shares of the textile maker’s stock worth $4,373,000 after purchasing an additional 20,520 shares during the period. Martingale Asset Management L P boosted its stake in Interface by 45.3% in the 3rd quarter. Martingale Asset Management L P now owns 237,579 shares of the textile maker’s stock worth $5,548,000 after purchasing an additional 74,103 shares during the period. Panagora Asset Management Inc. boosted its stake in Interface by 32.8% in the 3rd quarter. Panagora Asset Management Inc. now owns 314,379 shares of the textile maker’s stock worth $7,341,000 after purchasing an additional 77,699 shares during the period. Finally, Royce & Associates LP boosted its stake in Interface by 1.0% in the 3rd quarter. Royce & Associates LP now owns 414,548 shares of the textile maker’s stock worth $9,680,000 after purchasing an additional 4,000 shares during the period. 96.85% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have commented on the company. BidaskClub upgraded Interface from a “hold” rating to a “buy” rating in a research note on Wednesday, February 20th. Nomura set a $26.00 price target on Interface and gave the company a “buy” rating in a research report on Monday, December 17th. Finally, Zacks Investment Research upgraded Interface from a “sell” rating to a “hold” rating in a research report on Tuesday, March 12th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.00.

Shares of TILE opened at $15.54 on Tuesday. The stock has a market cap of $910.82 million, a PE ratio of 10.43 and a beta of 1.57. The company has a quick ratio of 1.34, a current ratio of 2.50 and a debt-to-equity ratio of 1.66. Interface, Inc. has a 12-month low of $13.45 and a 12-month high of $26.10.

Interface (NASDAQ:TILE) last issued its quarterly earnings results on Tuesday, February 19th. The textile maker reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.02. The firm had revenue of $337.06 million during the quarter, compared to the consensus estimate of $344.65 million. Interface had a return on equity of 25.66% and a net margin of 4.26%. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter last year, the company posted $0.32 EPS. On average, equities analysts forecast that Interface, Inc. will post 1.64 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $0.065 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.67%. Interface’s dividend payout ratio (DPR) is presently 17.45%.

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Interface Profile

Interface, Inc, a modular flooring company, designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific. The company offers modular carpets under the Interface and FLOR names; carpet tiles under the GlasBacRE name for use in commercial interiors, including offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; modular resilient flooring products; and luxury vinyl tile products.

Further Reading: Special Dividends

Institutional Ownership by Quarter for Interface (NASDAQ:TILE)

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