Point72 Asia Singapore Pte. Ltd. Decreases Holdings in Interface, Inc. (NASDAQ:TILE)

Point72 Asia Singapore Pte. Ltd. trimmed its position in shares of Interface, Inc. (NASDAQ:TILE) by 61.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,164 shares of the textile maker’s stock after selling 3,469 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Interface were worth $32,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TILE. Gendell Jeffrey L purchased a new position in shares of Interface during the 4th quarter valued at about $277,000. Wellington Management Group LLP grew its position in Interface by 0.5% during the 4th quarter. Wellington Management Group LLP now owns 2,508,961 shares of the textile maker’s stock worth $31,663,000 after acquiring an additional 12,847 shares during the last quarter. GAMMA Investing LLC grew its position in Interface by 131.1% during the 1st quarter. GAMMA Investing LLC now owns 3,943 shares of the textile maker’s stock worth $66,000 after acquiring an additional 2,237 shares during the last quarter. First Hawaiian Bank grew its position in Interface by 3.8% during the 1st quarter. First Hawaiian Bank now owns 36,890 shares of the textile maker’s stock worth $620,000 after acquiring an additional 1,353 shares during the last quarter. Finally, Range Financial Group LLC bought a new position in Interface during the 1st quarter worth approximately $687,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Interface Price Performance

Shares of TILE stock opened at $18.71 on Wednesday. The firm has a market cap of $1.09 billion, a P/E ratio of 18.52, a P/E/G ratio of 0.97 and a beta of 1.98. Interface, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $19.45. The business’s 50 day moving average price is $17.82 and its 200-day moving average price is $16.42. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.45 and a current ratio of 2.76.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Friday, August 2nd. The textile maker reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.12. The firm had revenue of $346.60 million for the quarter, compared to analyst estimates of $340.21 million. Interface had a return on equity of 18.42% and a net margin of 5.20%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $0.25 EPS. On average, equities research analysts anticipate that Interface, Inc. will post 1.28 earnings per share for the current year.

Interface Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.21%. Interface’s dividend payout ratio is currently 3.96%.

Insider Activity at Interface

In related news, VP Stansfield Nigel sold 17,500 shares of Interface stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $16.44, for a total transaction of $287,700.00. Following the sale, the vice president now directly owns 164,355 shares in the company, valued at $2,701,996.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Daniel T. Hendrix sold 2,153 shares of Interface stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $14.67, for a total transaction of $31,584.51. Following the sale, the director now directly owns 246,147 shares in the company, valued at $3,610,976.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stansfield Nigel sold 17,500 shares of Interface stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $16.44, for a total value of $287,700.00. Following the sale, the vice president now owns 164,355 shares in the company, valued at $2,701,996.20. The disclosure for this sale can be found here. Insiders have sold 125,858 shares of company stock worth $2,091,604 over the last ninety days. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TILE has been the topic of several recent research reports. Barrington Research restated an “outperform” rating and set a $22.00 price target on shares of Interface in a research report on Friday, September 20th. StockNews.com upgraded Interface from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th.

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.