Dynamic Technology Lab Private Ltd Cuts Holdings in Interface, Inc. $TILE

Dynamic Technology Lab Private Ltd lessened its stake in Interface, Inc. (NASDAQ:TILE) by 66.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 14,960 shares of the textile maker’s stock after selling 30,111 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Interface were worth $433,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. HB Wealth Management LLC acquired a new position in Interface during the 3rd quarter worth approximately $1,161,000. American Century Companies Inc. raised its holdings in shares of Interface by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 2,286,286 shares of the textile maker’s stock valued at $47,852,000 after purchasing an additional 71,961 shares in the last quarter. Jupiter Asset Management Ltd. lifted its position in shares of Interface by 2.9% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 353,183 shares of the textile maker’s stock worth $7,392,000 after purchasing an additional 10,081 shares during the last quarter. CX Institutional acquired a new position in shares of Interface during the third quarter worth $9,696,000. Finally, Geode Capital Management LLC grew its stake in shares of Interface by 0.7% during the second quarter. Geode Capital Management LLC now owns 1,433,183 shares of the textile maker’s stock worth $30,000,000 after purchasing an additional 10,537 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Interface Price Performance

Shares of TILE opened at $27.83 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.18 and a current ratio of 2.34. Interface, Inc. has a fifty-two week low of $17.24 and a fifty-two week high of $35.11. The firm has a 50-day simple moving average of $31.13 and a 200-day simple moving average of $28.79. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 0.89 and a beta of 1.87.

Interface (NASDAQ:TILE) last issued its quarterly earnings results 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. The firm had revenue of $349.39 million for the quarter, compared to analysts’ expectations of $350.54 million. Interface had a return on equity of 19.54% and a net margin of 8.37%.The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 EPS. On average, equities research analysts anticipate that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Increases Dividend

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

Insider Buying and Selling at Interface

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 90 days, insiders sold 25,650 shares of company stock valued at $736,292. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

TILE has been the topic of a number of analyst reports. Barrington Research raised their price target on Interface from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Zacks Research cut Interface from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Weiss Ratings downgraded Interface from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 6th. Finally, Wall Street Zen raised Interface from a “buy” rating to a “strong-buy” rating in a research report on Monday. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Interface currently has a consensus rating of “Hold” and a consensus price target of $36.00.

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.