Wedge Capital Management L L P NC Acquires Shares of 51,153 Interface, Inc. (NASDAQ:TILE)

Wedge Capital Management L L P NC bought a new position in shares of Interface, Inc. (NASDAQ:TILE) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 51,153 shares of the textile maker’s stock, valued at approximately $1,246,000. Wedge Capital Management L L P NC owned 0.09% of Interface at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TILE. Dimensional Fund Advisors LP raised its position in Interface by 10.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,691,190 shares of the textile maker’s stock worth $39,507,000 after acquiring an additional 247,350 shares during the period. Renaissance Technologies LLC increased its stake in shares of Interface by 11.0% during the second quarter. Renaissance Technologies LLC now owns 345,400 shares of the textile maker’s stock worth $5,070,000 after purchasing an additional 34,200 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Interface during the second quarter worth about $173,000. XTX Topco Ltd raised its position in shares of Interface by 314.4% during the 2nd quarter. XTX Topco Ltd now owns 45,647 shares of the textile maker’s stock worth $670,000 after purchasing an additional 34,632 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in Interface in the 2nd quarter valued at about $1,583,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Insider Activity at Interface

In other news, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel T. Hendrix sold 12,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $24.10, for a total value of $301,250.00. Following the completion of the transaction, the director now owns 116,147 shares of the company’s stock, valued at $2,799,142.70. The trade was a 9.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,675 shares of company stock valued at $2,421,237. 2.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on TILE. StockNews.com cut Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Barrington Research increased their price objective on Interface from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th.

Interface Stock Up 0.4 %

Shares of NASDAQ TILE opened at $24.01 on Tuesday. 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 $25.11 and a 200 day moving average of $20.65. Interface, Inc. has a 12-month low of $11.58 and a 12-month high of $27.34. The stock has a market cap of $1.40 billion, a PE ratio of 16.79, a P/E/G ratio of 0.98 and a beta of 2.10.

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

Interface Announces Dividend

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

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.