Franklin Resources Inc. Boosts Stake in Interface, Inc. (NASDAQ:TILE)

Franklin Resources Inc. boosted its stake in Interface, Inc. (NASDAQ:TILE) by 50.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 134,333 shares of the textile maker’s stock after purchasing an additional 44,757 shares during the period. Franklin Resources Inc. owned about 0.23% of Interface worth $3,271,000 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 TILE. HighTower Advisors LLC acquired a new stake in shares of Interface in the third quarter valued at $1,138,000. Sanctuary Advisors LLC purchased a new position in Interface during the 3rd quarter valued at about $1,661,000. Amundi grew its position in Interface by 202.0% in the 4th quarter. Amundi now owns 34,408 shares of the textile maker’s stock valued at $804,000 after acquiring an additional 23,013 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Interface by 13.3% during the third quarter. BNP Paribas Financial Markets now owns 29,555 shares of the textile maker’s stock worth $561,000 after purchasing an additional 3,464 shares during the period. Finally, FMR LLC lifted its position in shares of Interface by 138.8% during the third 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 in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Interface Price Performance

Shares of NASDAQ TILE opened at $18.82 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 0.96 and a beta of 1.93. The stock’s 50-day moving average is $20.21 and its two-hundred day moving average is $22.15. Interface, Inc. has a 1-year low of $14.13 and a 1-year high of $27.34.

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

Interface Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date was Friday, March 28th. Interface’s dividend payout ratio is presently 2.72%.

Insider Transactions at Interface

In other news, Director Daniel T. Hendrix sold 7,500 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $19.95, for a total transaction of $149,625.00. Following the sale, the director now owns 96,147 shares of the company’s stock, valued at approximately $1,918,132.65. This trade represents a 7.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. StockNews.com cut shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Barrington Research restated an “outperform” rating and issued a $30.00 price target on shares of Interface in a research note on Tuesday, February 25th.

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.