Range Financial Group LLC Takes $1.29 Million Position in Interface, Inc. (NASDAQ:TILE)

Range Financial Group LLC bought a new stake in shares of Interface, Inc. (NASDAQ:TILE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 53,113 shares of the textile maker’s stock, valued at approximately $1,293,000.

Several other large investors have also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Interface by 13.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,825 shares of the textile maker’s stock worth $218,000 after purchasing an additional 1,770 shares during the last quarter. Victory Capital Management Inc. grew its position in Interface by 107.2% in the 2nd quarter. Victory Capital Management Inc. now owns 182,620 shares of the textile maker’s stock worth $2,681,000 after purchasing an additional 94,499 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Interface by 45.6% in the 2nd quarter. Acadian Asset Management LLC now owns 174,853 shares of the textile maker’s stock worth $2,563,000 after buying an additional 54,775 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Interface during the second quarter valued at $141,000. Finally, ClariVest Asset Management LLC purchased a new position in shares of Interface in the second quarter worth approximately $1,488,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on TILE shares. StockNews.com downgraded Interface from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Barrington Research boosted their price objective on Interface from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th.

Insider Activity

In related news, CFO Bruce Andrew Hausmann sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $25.50, for a total value of $765,000.00. Following the completion of the transaction, the chief financial officer now owns 168,475 shares in the company, valued at $4,296,112.50. This trade represents a 15.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Stansfield Nigel sold 20,000 shares of Interface stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $24.12, for a total transaction of $482,400.00. Following the sale, the vice president now owns 144,355 shares of the company’s stock, valued at approximately $3,481,842.60. The trade was a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,675 shares of company stock worth $2,421,237. Company insiders own 2.60% of the company’s stock.

Interface Price Performance

NASDAQ:TILE traded down $0.95 during trading hours on Tuesday, reaching $23.19. The stock had a trading volume of 491,616 shares, compared to its average volume of 391,410. The company has a 50 day moving average price of $24.88 and a two-hundred day moving average price of $20.03. Interface, Inc. has a 52 week low of $11.48 and a 52 week high of $27.34. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57. The stock has a market capitalization of $1.35 billion, a PE ratio of 16.22, a PEG ratio of 1.27 and a beta of 2.10.

Interface (NASDAQ:TILE) last posted its quarterly earnings data on Friday, November 1st. The textile maker reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.14. The business had revenue of $344.30 million for the quarter, compared to analysts’ expectations of $336.39 million. Interface had a net margin of 6.49% and a return on equity of 19.91%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. As a group, sell-side analysts anticipate that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.01 per share. The ex-dividend date was Friday, November 29th. This represents a $0.04 dividend on an annualized basis and a yield of 0.17%. Interface’s payout ratio is 2.80%.

About Interface

Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.