Range Financial Group LLC Takes $1.29 Million Position in Interface, Inc. (NASDAQ:TILE)

Range Financial Group LLC bought a new position in Interface, Inc. (NASDAQ:TILE) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 53,113 shares of the textile maker’s stock, valued at approximately $1,293,000. Range Financial Group LLC owned approximately 0.09% of Interface as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Diversified Trust Co boosted its position in shares of Interface by 26.2% during the fourth quarter. Diversified Trust Co now owns 13,223 shares of the textile maker’s stock valued at $322,000 after buying an additional 2,742 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Interface by 17.5% in the 4th quarter. GAMMA Investing LLC now owns 3,880 shares of the textile maker’s stock worth $94,000 after acquiring an additional 578 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Interface by 22.2% in the third quarter. JPMorgan Chase & Co. now owns 129,264 shares of the textile maker’s stock valued at $2,452,000 after purchasing an additional 23,447 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Interface by 5.8% during the third quarter. Principal Financial Group Inc. now owns 304,050 shares of the textile maker’s stock valued at $5,768,000 after purchasing an additional 16,624 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Interface by 3.7% during the third quarter. Franklin Resources Inc. now owns 89,576 shares of the textile maker’s stock worth $1,735,000 after purchasing an additional 3,202 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

TILE has been the topic of a number of research analyst reports. Barrington Research boosted their target price on Interface from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. StockNews.com downgraded Interface from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th.

Interface Price Performance

NASDAQ TILE traded down $0.95 during trading on Tuesday, reaching $23.19. The company’s stock had a trading volume of 491,616 shares, compared to its average volume of 391,410. Interface, Inc. has a one year low of $11.48 and a one year high of $27.34. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. The stock has a market capitalization of $1.35 billion, a PE ratio of 16.22, a P/E/G ratio of 1.27 and a beta of 2.10. The firm has a fifty day moving average of $24.88 and a 200 day moving average of $20.03.

Interface (NASDAQ:TILE) last issued its earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.14. The business had revenue of $344.30 million during the quarter, compared to analyst estimates of $336.39 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. Interface’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share. Analysts expect 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 was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date was Friday, November 29th. Interface’s dividend payout ratio (DPR) is presently 2.80%.

Insider Transactions at Interface

In related news, CFO Bruce Andrew Hausmann sold 30,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $25.50, for a total value of $765,000.00. Following the sale, the chief financial officer now directly owns 168,475 shares of the company’s stock, valued at $4,296,112.50. This trade represents a 15.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel T. Hendrix sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $24.10, for a total value of $301,250.00. Following the transaction, the director now directly owns 116,147 shares of the company’s stock, valued at $2,799,142.70. The trade was a 9.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,675 shares of company stock worth $2,421,237. Insiders own 2.60% of the company’s stock.

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.