Trexquant Investment LP Acquires 190,982 Shares of Interface, Inc. (NASDAQ:TILE)

Trexquant Investment LP increased its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 385.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 240,594 shares of the textile maker’s stock after acquiring an additional 190,982 shares during the quarter. Trexquant Investment LP owned approximately 0.41% of Interface worth $5,858,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. FMR LLC raised its stake in shares of Interface by 138.8% during the 3rd quarter. FMR LLC now owns 95,215 shares of the textile maker’s stock worth $1,806,000 after purchasing an additional 55,345 shares during the period. BNP Paribas Financial Markets boosted its stake in Interface by 13.3% in the third quarter. BNP Paribas Financial Markets now owns 29,555 shares of the textile maker’s stock valued at $561,000 after acquiring an additional 3,464 shares during the last quarter. Verition Fund Management LLC purchased a new position in Interface in the third quarter valued at about $214,000. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Interface by 174.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,934 shares of the textile maker’s stock worth $113,000 after purchasing an additional 3,770 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in shares of Interface during the 3rd quarter worth approximately $249,000. 98.34% of the stock is currently owned by institutional investors.

Insider Activity at Interface

In related news, Director Daniel T. Hendrix sold 7,500 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $19.95, for a total value of $149,625.00. Following the sale, the director now owns 96,147 shares in the company, valued at approximately $1,918,132.65. This trade represents a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Interface Stock Down 2.6 %

TILE opened at $18.37 on Friday. Interface, Inc. has a 12 month low of $14.13 and a 12 month high of $27.34. The company has a market cap of $1.07 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 0.96 and a beta of 2.18. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average of $21.01 and a 200 day moving average of $22.15.

Interface (NASDAQ:TILE) last posted its quarterly earnings results on Tuesday, February 25th. The textile maker reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Interface had a return on equity of 19.91% and a net margin of 6.49%. The firm had revenue of $335.00 million during the quarter, compared to analyst estimates of $340.51 million. During the same period last year, the company earned $0.41 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, sell-side analysts expect that Interface, Inc. will post 1.37 EPS for the current year.

Interface Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.01 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.22%. Interface’s dividend payout ratio (DPR) is currently 2.72%.

Interface 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.