Charles Schwab Investment Management Inc. Sells 72,571 Shares of Interface, Inc. (NASDAQ:TILE)

Charles Schwab Investment Management Inc. lessened its position in shares of Interface, Inc. (NASDAQ:TILE) by 7.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 921,265 shares of the textile maker’s stock after selling 72,571 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Interface were worth $17,476,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Innealta Capital LLC bought a new stake in Interface during the 2nd quarter worth approximately $32,000. KBC Group NV increased its holdings in shares of Interface by 70.7% in the 3rd quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock worth $66,000 after buying an additional 1,438 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Interface in the 3rd quarter worth $70,000. Farther Finance Advisors LLC increased its holdings in shares of Interface by 1,348.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,241 shares of the textile maker’s stock worth $118,000 after buying an additional 5,810 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Interface in the 2nd quarter worth $91,000. Institutional investors own 98.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TILE. Barrington Research increased their price target on shares of Interface from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th.

Interface Price Performance

TILE stock opened at $26.52 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57. Interface, Inc. has a 52 week low of $10.75 and a 52 week high of $27.34. The firm’s fifty day moving average is $22.21 and its 200 day moving average is $18.54. The firm has a market cap of $1.55 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.29 and a beta of 2.09.

Interface (NASDAQ:TILE) last released its 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. Interface had a net margin of 6.49% and a return on equity of 19.91%. The company had revenue of $344.30 million for the quarter, compared to analyst estimates of $336.39 million. During the same quarter last year, the firm earned $0.28 EPS. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. Research analysts predict that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend is Friday, November 29th. Interface’s dividend payout ratio is currently 2.80%.

Insider Activity at Interface

In other Interface news, VP Stansfield Nigel sold 20,000 shares of the stock in a transaction 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 completion of the sale, the vice president now owns 144,355 shares of the company’s stock, valued at $3,481,842.60. This represents a 12.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel T. Hendrix sold 18,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $26.33, for a total transaction of $473,940.00. Following the sale, the director now directly owns 153,147 shares of the company’s stock, valued at $4,032,360.51. The trade was a 10.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,175 shares of company stock valued at $2,119,987. Insiders own 2.60% of the company’s stock.

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.