Thrivent Financial for Lutherans Cuts Stake in Interface, Inc. (NASDAQ:TILE)

Thrivent Financial for Lutherans lessened its stake in shares of Interface, Inc. (NASDAQ:TILE) by 43.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 45,173 shares of the textile maker’s stock after selling 35,255 shares during the period. Thrivent Financial for Lutherans’ holdings in Interface were worth $1,100,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in TILE. Venturi Wealth Management LLC lifted its holdings in Interface by 204.4% during the fourth quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 750 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Interface by 78.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker’s stock valued at $30,000 after buying an additional 546 shares in the last quarter. Principal Securities Inc. boosted its holdings in Interface by 103.1% in the 4th quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker’s stock worth $36,000 after buying an additional 741 shares during the period. Quarry LP grew its stake in Interface by 499.5% in the 3rd quarter. Quarry LP now owns 2,476 shares of the textile maker’s stock valued at $47,000 after buying an additional 2,063 shares in the last quarter. Finally, US Bancorp DE raised its holdings in Interface by 163.5% during the 4th quarter. US Bancorp DE now owns 2,398 shares of the textile maker’s stock valued at $58,000 after acquiring an additional 1,488 shares during the period. Institutional investors own 98.34% of the company’s stock.

Interface Trading Up 0.5 %

NASDAQ TILE opened at $19.84 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. The stock’s 50-day simple moving average is $21.43 and its two-hundred day simple moving average is $22.18. Interface, Inc. has a twelve month low of $14.13 and a twelve month high of $27.34. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 13.87, a PEG 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $335.00 million during the quarter, compared to analysts’ expectations of $340.51 million. Interface had a net margin of 6.49% and a return on equity of 19.91%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. Research analysts forecast that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.01 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. Interface’s dividend payout ratio is currently 2.72%.

Insider Activity

In other Interface news, Director Daniel T. Hendrix sold 7,500 shares of Interface stock in a transaction that occurred 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 transaction, the director now directly owns 96,147 shares of the company’s stock, valued at $1,918,132.65. The trade was a 7.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 32,500 shares of company stock valued at $748,125. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.