Legal & General Group Plc Reduces Stock Holdings in Interface, Inc. (NASDAQ:TILE)

Legal & General Group Plc lessened its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,907 shares of the textile maker’s stock after selling 7,382 shares during the period. Legal & General Group Plc owned approximately 0.28% of Interface worth $3,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TILE. Venturi Wealth Management LLC raised its stake in shares of 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 buying an additional 750 shares during the last quarter. Huntington National Bank acquired a new stake in Interface during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC raised its position in Interface by 78.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker’s stock valued at $30,000 after acquiring an additional 546 shares in the last quarter. Principal Securities Inc. lifted its holdings in Interface by 103.1% in the fourth quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker’s stock valued at $36,000 after acquiring an additional 741 shares during the period. Finally, US Bancorp DE boosted its position in 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 purchasing an additional 1,488 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Interface

In other Interface news, Director Daniel T. Hendrix sold 7,500 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $19.95, for a total value of $149,625.00. Following the completion of the sale, the director now owns 96,147 shares in the company, valued at approximately $1,918,132.65. This represents a 7.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

Interface Price Performance

Shares of NASDAQ TILE opened at $18.17 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57. The firm has a fifty day moving average of $19.58 and a 200 day moving average of $22.15. The firm has a market cap of $1.06 billion, a PE ratio of 12.71, a PEG ratio of 0.96 and a beta of 1.93. Interface, Inc. has a one year low of $14.13 and a one year high of $27.34.

Interface (NASDAQ:TILE) last issued its quarterly earnings results on Tuesday, February 25th. The textile maker reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Interface had a net margin of 6.49% and a return on equity of 19.91%. The firm had revenue of $335.00 million for the quarter, compared to analyst estimates of $340.51 million. During the same period last year, the company posted $0.41 EPS. Interface’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, research analysts predict that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a dividend of $0.01 per share. The ex-dividend date was Friday, March 28th. This represents a $0.04 annualized dividend and a yield of 0.22%. Interface’s dividend payout ratio (DPR) is presently 2.72%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barrington Research restated an “outperform” rating and set a $30.00 price target on shares of Interface in a research report on Tuesday, April 15th. StockNews.com lowered Interface from a “buy” rating to a “hold” rating in a research note on Friday, April 18th.

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.