Bank of New York Mellon Corp Sells 17,137 Shares of Interface, Inc. (NASDAQ:TILE)

Bank of New York Mellon Corp trimmed its stake in shares of Interface, Inc. (NASDAQ:TILE) by 3.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 463,291 shares of the textile maker’s stock after selling 17,137 shares during the quarter. Bank of New York Mellon Corp owned about 0.79% of Interface worth $9,192,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Huntington National Bank acquired a new position in shares of Interface during the 4th quarter worth $28,000. Virtus Fund Advisers LLC acquired a new position in Interface in the 4th quarter worth about $48,000. Versant Capital Management Inc increased its holdings in Interface by 49.6% in the 1st quarter. Versant Capital Management Inc now owns 2,458 shares of the textile maker’s stock worth $49,000 after purchasing an additional 815 shares in the last quarter. National Bank of Canada FI increased its holdings in Interface by 13.3% in the 4th quarter. National Bank of Canada FI now owns 3,850 shares of the textile maker’s stock worth $94,000 after purchasing an additional 451 shares in the last quarter. Finally, Scotia Capital Inc. acquired a new position in Interface in the 4th quarter worth about $204,000. 98.34% of the stock is currently owned by institutional investors.

Interface Stock Performance

TILE stock opened at $20.39 on Tuesday. The stock has a market capitalization of $1.20 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 0.87 and a beta of 1.97. Interface, Inc. has a 12-month low of $14.75 and a 12-month high of $27.34. The company has a current ratio of 2.76, a quick ratio of 1.42 and a debt-to-equity ratio of 0.59. The stock’s 50 day simple moving average is $20.75 and its 200 day simple moving average is $20.84.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Friday, May 2nd. The textile maker reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.04. The firm had revenue of $297.41 million for the quarter, compared to analysts’ expectations of $297.11 million. Interface had a return on equity of 17.73% and a net margin of 6.48%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 EPS. As a group, research analysts forecast that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend was Friday, May 30th. Interface’s payout ratio is 2.76%.

Insider Activity at Interface

In other Interface 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 owned 130,142 shares of the company’s stock, 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 hyperlink. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

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

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.