Barrow Hanley Mewhinney & Strauss LLC Decreases Position in Interface, Inc. $TILE

Barrow Hanley Mewhinney & Strauss LLC lowered its stake in shares of Interface, Inc. (NASDAQ:TILE) by 8.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,496,978 shares of the textile maker’s stock after selling 226,424 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned 4.28% of Interface worth $72,263,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of TILE. Congress Asset Management Co. raised its holdings in Interface by 2.9% in the third quarter. Congress Asset Management Co. now owns 2,544,381 shares of the textile maker’s stock valued at $73,634,000 after acquiring an additional 70,840 shares in the last quarter. American Century Companies Inc. increased its position in shares of Interface by 5.5% in the 3rd quarter. American Century Companies Inc. now owns 2,412,549 shares of the textile maker’s stock valued at $69,819,000 after purchasing an additional 126,263 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Interface by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,433,183 shares of the textile maker’s stock valued at $30,000,000 after purchasing an additional 10,537 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Interface by 5.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker’s stock valued at $14,854,000 after purchasing an additional 42,011 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of Interface by 1.3% in the 2nd quarter. Prudential Financial Inc. now owns 642,865 shares of the textile maker’s stock valued at $13,455,000 after purchasing an additional 8,255 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on TILE. Zacks Research cut Interface from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Wall Street Zen upgraded Interface from a “buy” rating to a “strong-buy” rating in a research note on Monday. Barrington Research upped their price target on Interface from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Finally, Weiss Ratings lowered shares of Interface from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Interface currently has an average rating of “Hold” and an average price target of $36.00.

Insider Activity

In related news, VP James Poppens sold 8,000 shares of Interface stock in a transaction on Friday, March 6th. The stock was sold at an average price of $28.05, for a total transaction of $224,400.00. Following the completion of the transaction, the vice president directly owned 103,846 shares of the company’s stock, valued at approximately $2,912,880.30. The trade was a 7.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In the last three months, insiders have sold 25,650 shares of company stock worth $736,292. 2.60% of the stock is currently owned by company insiders.

Interface Price Performance

Interface stock opened at $27.47 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.34 and a quick ratio of 1.18. The business has a 50 day simple moving average of $31.13 and a 200-day simple moving average of $28.79. Interface, Inc. has a 12 month low of $17.24 and a 12 month high of $35.11. The stock has a market capitalization of $1.59 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 0.90 and a beta of 1.87.

Interface (NASDAQ:TILE) last announced its quarterly earnings data on Tuesday, February 24th. The textile maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.09. Interface had a net margin of 8.37% and a return on equity of 19.54%. The company had revenue of $349.39 million for the quarter, compared to analysts’ expectations of $350.54 million. During the same period in the previous year, the company posted $0.34 EPS. Interface’s revenue was up 4.3% compared to the same quarter last year. Equities analysts predict that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. This is a boost from Interface’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Friday, March 27th. Interface’s dividend payout ratio is 4.08%.

Interface Company Profile

Interface, Inc (NASDAQ: TILE) is a global manufacturer of modular flooring and resilient commercial flooring solutions. The company specializes in carpet tiles, luxury vinyl tile (LVT) and other environmentally responsible hard-surface products designed for use in corporate, education, healthcare, hospitality and retail environments. Interface’s portfolio also includes broadloom carpet, rubber flooring and acoustic underlays, all engineered to meet performance, design and sustainability requirements in modern interior spaces.

Founded in 1973 by Ray C.