California State Teachers Retirement System Cuts Stake in Interface, Inc. (NASDAQ:TILE)

California State Teachers Retirement System reduced its position in Interface, Inc. (NASDAQ:TILE) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,457 shares of the textile maker’s stock after selling 550 shares during the quarter. California State Teachers Retirement System owned about 0.09% of Interface worth $1,326,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Venturi Wealth Management LLC boosted its holdings in Interface by 204.4% in the fourth quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 750 shares during the last quarter. Huntington National Bank purchased a new stake in shares of Interface during the 4th quarter worth about $28,000. Smartleaf Asset Management LLC boosted its stake in shares of Interface by 78.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker’s stock worth $30,000 after acquiring an additional 546 shares in the last quarter. Principal Securities Inc. boosted its stake in shares of Interface by 103.1% during the 4th quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker’s stock worth $36,000 after acquiring an additional 741 shares in the last quarter. Finally, Virtus Fund Advisers LLC acquired a new position in shares of Interface during the 4th quarter worth about $48,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on TILE. Wall Street Zen upgraded shares of Interface from a “hold” rating to a “buy” rating in a report on Saturday, May 10th. Barrington Research reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Interface in a research report on Friday, May 2nd.

Interface Stock Performance

Shares of TILE stock opened at $20.85 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. Interface, Inc. has a 52 week low of $14.13 and a 52 week high of $27.34. The stock has a market capitalization of $1.22 billion, a PE ratio of 14.58, a P/E/G ratio of 0.96 and a beta of 1.98. The firm has a 50 day moving average of $19.49 and a two-hundred day moving average of $21.77.

Interface (NASDAQ:TILE) last announced its quarterly earnings data on Friday, May 2nd. The textile maker reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Interface had a net margin of 6.49% and a return on equity of 19.91%. The business had revenue of $297.41 million for the quarter, compared to analyst estimates of $297.11 million. During the same period last year, the business earned $0.24 EPS. The company’s revenue was up 2.7% on a year-over-year basis. On average, research analysts predict that Interface, Inc. will post 1.37 EPS for the current fiscal 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 paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.04 annualized dividend and a yield of 0.19%. Interface’s dividend payout ratio is currently 2.76%.

Insider Buying and Selling

In other Interface news, VP James Poppens sold 19,474 shares of Interface stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $20.14, for a total value of $392,206.36. Following the transaction, the vice president now directly owns 130,142 shares in the company, valued at approximately $2,621,059.88. The trade was a 13.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is owned by company insiders.

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.