Dupont Capital Management Corp raised its position in shares of Interface, Inc. (NASDAQ:TILE) by 21.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,460 shares of the textile maker’s stock after buying an additional 16,517 shares during the period. Dupont Capital Management Corp owned 0.15% of Interface worth $1,836,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Ameritas Investment Partners Inc. acquired a new stake in shares of Interface during the first quarter worth $106,000. Victory Capital Management Inc. raised its stake in shares of Interface by 38.3% in the first quarter. Victory Capital Management Inc. now owns 6,671 shares of the textile maker’s stock worth $127,000 after buying an additional 1,849 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Interface by 1.1% in the first quarter. State of Alaska Department of Revenue now owns 7,090 shares of the textile maker’s stock worth $135,000 after buying an additional 80 shares during the period. First Mercantile Trust Co. raised its stake in shares of Interface by 6.9% in the first quarter. First Mercantile Trust Co. now owns 8,157 shares of the textile maker’s stock worth $155,000 after buying an additional 526 shares during the period. Finally, Trust Co. of Vermont raised its stake in shares of Interface by 52.6% in the first quarter. Trust Co. of Vermont now owns 8,430 shares of the textile maker’s stock worth $161,000 after buying an additional 2,905 shares during the period. Institutional investors own 91.04% of the company’s stock.
Shares of Interface, Inc. (TILE) opened at 18.85 on Friday. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 24.26 and a beta of 1.20. The company has a 50-day moving average price of $19.03 and a 200-day moving average price of $19.14. Interface, Inc. has a 12 month low of $14.59 and a 12 month high of $21.05.
Interface (NASDAQ:TILE) last issued its quarterly earnings results on Wednesday, July 26th. The textile maker reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. The company had revenue of $251.70 million during the quarter, compared to analysts’ expectations of $254.94 million. Interface had a return on equity of 19.66% and a net margin of 5.21%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share. Equities analysts forecast that Interface, Inc. will post $1.14 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be paid a $0.065 dividend. This is a boost from Interface’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.26 annualized dividend and a dividend yield of 1.38%. Interface’s dividend payout ratio is presently 33.33%.
Interface announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 26th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the textile maker to buy up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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A number of brokerages have recently weighed in on TILE. BidaskClub lowered Interface from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Stifel Nicolaus reiterated a “hold” rating and issued a $19.00 price objective on shares of Interface in a research report on Friday, July 28th. ValuEngine lowered Interface from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research lowered Interface from a “hold” rating to a “sell” rating in a research report on Thursday, April 27th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $19.00.
In other news, VP Robert Coombs sold 12,000 shares of the stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $20.40, for a total value of $244,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel T. Hendrix sold 5,000 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $20.93, for a total value of $104,650.00. The disclosure for this sale can be found here. In the last three months, insiders sold 40,000 shares of company stock valued at $796,600. Insiders own 1.90% of the company’s stock.
Interface Company Profile
Interface Inc is engaged in design, production and sale of modular carpet, also known as carpet tile. As of January 1, 2017, the Company marketed its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company operates through three segments: Americas, Europe and Asia-Pacific.
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