Foundry Partners LLC Lowers Stake in Interface, Inc. (NASDAQ:TILE)

Foundry Partners LLC lessened its stake in Interface, Inc. (NASDAQ:TILE) by 31.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 154,617 shares of the textile maker’s stock after selling 72,480 shares during the period. Foundry Partners LLC owned about 0.27% of Interface worth $3,765,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC boosted its position in shares of Interface by 204.4% during the fourth quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker’s stock worth $27,000 after buying an additional 750 shares during the period. Huntington National Bank purchased a new position in Interface during the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC increased its stake in Interface by 78.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker’s stock worth $30,000 after purchasing an additional 546 shares during the period. Principal Securities Inc. lifted its position in shares of Interface by 103.1% during the fourth quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker’s stock worth $36,000 after purchasing an additional 741 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Interface by 499.5% during the third quarter. Quarry LP now owns 2,476 shares of the textile maker’s stock worth $47,000 after purchasing an additional 2,063 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Insider Transactions at Interface

In other news, Director Daniel T. Hendrix sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $19.95, for a total transaction of $149,625.00. Following the completion of the sale, the director now owns 96,147 shares in the company, valued at approximately $1,918,132.65. The trade was a 7.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

Interface Stock Performance

Shares of Interface stock opened at $18.37 on Friday. The business has a 50-day simple moving average of $21.01 and a 200-day simple moving average of $22.15. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57. Interface, Inc. has a one year low of $14.13 and a one year high of $27.34. The company has a market cap of $1.07 billion, a PE ratio of 12.85, a P/E/G ratio of 0.96 and a beta of 2.18.

Interface (NASDAQ:TILE) last announced its quarterly earnings data on Tuesday, February 25th. The textile maker reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $335.00 million for the quarter, compared to the consensus estimate of $340.51 million. Interface had a net margin of 6.49% and a return on equity of 19.91%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 EPS. On average, equities research analysts forecast that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date is Friday, March 28th. Interface’s dividend payout ratio (DPR) is 2.72%.

Analyst Ratings Changes

TILE has been the topic of several recent research reports. Barrington Research reaffirmed an “outperform” rating and set a $30.00 target price on shares of Interface in a research note on Tuesday, February 25th. StockNews.com lowered Interface from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th.

Interface Company Profile

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.