Farther Finance Advisors LLC Cuts Stock Holdings in Interface, Inc. (NASDAQ:TILE)

Farther Finance Advisors LLC decreased its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 9.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,627 shares of the textile maker’s stock after selling 614 shares during the period. Farther Finance Advisors LLC’s holdings in Interface were worth $137,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its position in Interface by 204.4% during the 4th 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 period. Smartleaf Asset Management LLC grew its position in shares of Interface by 78.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker’s stock worth $30,000 after buying an additional 546 shares during the last quarter. Principal Securities Inc. grew its position in shares of 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 last quarter. US Bancorp DE grew its position in shares of Interface by 163.5% in the 4th quarter. US Bancorp DE now owns 2,398 shares of the textile maker’s stock worth $58,000 after buying an additional 1,488 shares during the last quarter. Finally, Quarry LP grew its position in shares of Interface by 499.5% in the 3rd quarter. Quarry LP now owns 2,476 shares of the textile maker’s stock worth $47,000 after buying an additional 2,063 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Interface Stock Down 0.7 %

TILE stock opened at $19.76 on Friday. The firm has a 50 day moving average of $21.92 and a 200 day moving average of $22.03. The stock has a market capitalization of $1.15 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 0.96 and a beta of 2.18. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. Interface, Inc. has a 52 week low of $14.13 and a 52 week high of $27.34.

Interface (NASDAQ:TILE) last released its earnings results on Tuesday, February 25th. The textile maker reported $0.34 EPS for the quarter, topping 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%. Interface’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the business earned $0.41 EPS. Sell-side analysts forecast that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend is Friday, March 28th. Interface’s dividend payout ratio (DPR) is presently 2.72%.

Insider Buying and Selling

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 shares were sold at an average price of $19.95, for a total transaction of $149,625.00. Following the completion of the sale, the director now directly owns 96,147 shares in the company, valued at approximately $1,918,132.65. The trade was a 7.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders sold 32,500 shares of company stock worth $748,125 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TILE. 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 reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Interface in a research report on Tuesday, February 25th.

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.