Wellington Management Group LLP Sells 558,841 Shares of Interface, Inc. (NASDAQ:TILE)

Wellington Management Group LLP decreased its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 31.5% in the fourth quarter, HoldingsChannel reports. The fund owned 1,214,341 shares of the textile maker’s stock after selling 558,841 shares during the quarter. Wellington Management Group LLP’s holdings in Interface were worth $29,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of TILE. HighTower Advisors LLC purchased a new stake in Interface in the third quarter worth about $1,138,000. Sanctuary Advisors LLC purchased a new stake in Interface in the 3rd quarter worth approximately $1,661,000. Amundi raised its stake in Interface by 202.0% during the 4th quarter. Amundi now owns 34,408 shares of the textile maker’s stock worth $804,000 after acquiring an additional 23,013 shares during the period. BNP Paribas Financial Markets lifted its holdings in Interface by 13.3% during the third quarter. BNP Paribas Financial Markets now owns 29,555 shares of the textile maker’s stock valued at $561,000 after purchasing an additional 3,464 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Interface by 138.8% in 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 during the period. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Interface

In other news, Director Daniel T. Hendrix sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $23.78, for a total transaction of $297,250.00. Following the sale, the director now directly owns 103,647 shares of the company’s stock, valued at $2,464,725.66. This represents a 10.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on TILE shares. StockNews.com downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Barrington Research restated an “outperform” rating and issued a $30.00 price objective on shares of Interface in a research report on Tuesday, February 25th.

Interface Trading Down 2.6 %

TILE stock opened at $18.37 on Monday. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 0.96 and a beta of 1.93. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. Interface, Inc. has a 1-year low of $14.13 and a 1-year high of $27.34. The business has a 50 day simple moving average of $21.01 and a two-hundred day simple moving average of $22.20.

Interface (NASDAQ:TILE) last posted its earnings results on Tuesday, February 25th. The textile maker reported $0.34 earnings per share for the quarter, beating the consensus estimate 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%. Interface’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the company posted $0.41 earnings per share. Research analysts anticipate that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors 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 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.