Millennium Management LLC Trims Stock Position in Interface, Inc. (NASDAQ:TILE)

Millennium Management LLC decreased its stake in Interface, Inc. (NASDAQ:TILE) by 80.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,309 shares of the textile maker’s stock after selling 251,497 shares during the period. Millennium Management LLC owned 0.11% of Interface worth $1,517,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Hood River Capital Management LLC acquired a new position in Interface in the fourth quarter valued at $28,897,000. Vanguard Group Inc. lifted its holdings in shares of Interface by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 6,116,464 shares of the textile maker’s stock valued at $148,936,000 after purchasing an additional 246,726 shares during the last quarter. Barclays PLC lifted its holdings in shares of Interface by 688.5% in the 3rd quarter. Barclays PLC now owns 256,987 shares of the textile maker’s stock valued at $4,873,000 after purchasing an additional 224,395 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Interface by 12.3% in the 4th quarter. American Century Companies Inc. now owns 1,992,296 shares of the textile maker’s stock valued at $48,512,000 after purchasing an additional 218,113 shares during the period. Finally, Trexquant Investment LP grew its stake in Interface by 385.0% during the 4th quarter. Trexquant Investment LP now owns 240,594 shares of the textile maker’s stock worth $5,858,000 after buying an additional 190,982 shares during the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TILE has been the subject of a number of research reports. Barrington Research reiterated an “outperform” rating and issued a $30.00 price objective on shares of Interface in a research note on Friday, May 2nd. Wall Street Zen raised shares of Interface from a “hold” rating to a “buy” rating in a report on Saturday, May 10th.

Insider Activity at Interface

In related news, VP James Poppens sold 19,474 shares of the firm’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $20.14, for a total value of $392,206.36. Following the completion of the sale, the vice president now owns 130,142 shares in the company, valued at $2,621,059.88. This trade represents a 13.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is currently owned by insiders.

Interface Price Performance

Shares of NASDAQ:TILE opened at $20.25 on Wednesday. Interface, Inc. has a one year low of $14.13 and a one year high of $27.34. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.96 and a beta of 1.95. The company has a 50-day simple moving average of $19.46 and a 200-day simple moving average of $21.93. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57.

Interface (NASDAQ:TILE) last posted its quarterly earnings data on Friday, May 2nd. The textile maker reported $0.25 EPS for the quarter, beating the consensus estimate of $0.21 by $0.04. Interface had a return on equity of 19.91% and a net margin of 6.49%. The firm had revenue of $297.41 million during the quarter, compared to the consensus estimate of $297.11 million. During the same period in the prior year, the business earned $0.24 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that Interface, Inc. will post 1.37 EPS for the current year.

Interface Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Friday, May 30th. Interface’s dividend payout ratio is presently 2.76%.

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.