Fox Run Management L.L.C. lessened its stake in shares of Interface, Inc. (NASDAQ:TILE) by 35.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,363 shares of the textile maker’s stock after selling 10,624 shares during the quarter. Fox Run Management L.L.C.’s holdings in Interface were worth $452,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in TILE. BlackRock Inc. boosted its holdings in shares of Interface by 7.2% during the second quarter. BlackRock Inc. now owns 9,237,013 shares of the textile maker’s stock worth $211,990,000 after purchasing an additional 619,945 shares during the last quarter. Ariel Investments LLC boosted its holdings in shares of Interface by 9.9% during the second quarter. Ariel Investments LLC now owns 987,315 shares of the textile maker’s stock worth $22,659,000 after purchasing an additional 89,241 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Interface by 6.1% during the second quarter. Northern Trust Corp now owns 834,021 shares of the textile maker’s stock worth $19,140,000 after purchasing an additional 47,946 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Interface by 7.2% during the second quarter. Millennium Management LLC now owns 662,089 shares of the textile maker’s stock worth $15,195,000 after purchasing an additional 44,402 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Interface by 4.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 544,961 shares of the textile maker’s stock worth $12,507,000 after purchasing an additional 23,599 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.
Several equities research analysts have recently issued reports on TILE shares. BidaskClub cut Interface from a “buy” rating to a “hold” rating in a report on Saturday, July 21st. Longbow Research upgraded Interface from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, August 14th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut Interface from a “buy” rating to a “hold” rating in a report on Thursday, June 28th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $26.75.
Shares of Interface stock opened at $22.08 on Tuesday. Interface, Inc. has a twelve month low of $21.20 and a twelve month high of $26.25. The firm has a market capitalization of $1.39 billion, a P/E ratio of 18.71 and a beta of 1.12. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.46 and a current ratio of 2.57.
Interface (NASDAQ:TILE) last issued its earnings results on Wednesday, July 25th. The textile maker reported $0.42 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.42. Interface had a return on equity of 23.63% and a net margin of 5.67%. The firm had revenue of $283.60 million for the quarter, compared to analysts’ expectations of $274.94 million. During the same quarter last year, the firm earned $0.33 earnings per share. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, equities research analysts predict that Interface, Inc. will post 1.47 EPS for the current year.
Interface Company Profile
Interface, Inc, a modular flooring company, designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific. The company offers modular carpets under the Interface and FLOR names; carpet tiles under the GlasBacRE name for use in commercial interiors, including offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; modular resilient flooring products; and luxury vinyl tile products.
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