52,116 Shares in Interface, Inc. $TILE Acquired by Vest Financial LLC

Vest Financial LLC acquired a new position in Interface, Inc. (NASDAQ:TILE) in the third quarter, Holdings Channel reports. The fund acquired 52,116 shares of the textile maker’s stock, valued at approximately $1,793,000.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP purchased a new stake in Interface during the second quarter worth $36,000. Public Employees Retirement System of Ohio bought a new position in shares of Interface in the 2nd quarter worth $39,000. Farther Finance Advisors LLC raised its position in shares of Interface by 39.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,271 shares of the textile maker’s stock worth $44,000 after acquiring an additional 357 shares in the last quarter. Nykredit A S bought a new position in shares of Interface in the 2nd quarter worth $47,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Interface during the 2nd quarter worth $83,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Insider Activity

In other news, Director Daniel Hendrix sold 4,000 shares of the firm’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $35.39, for a total value of $141,560.00. Following the completion of the sale, the director owned 80,147 shares of the company’s stock, valued at $2,836,402.33. This trade represents a 4.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David Foshee sold 28,451 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $35.99, for a total value of $1,023,951.49. Following the completion of the sale, the vice president directly owned 146,563 shares of the company’s stock, valued at $5,274,802.37. The trade was a 16.26% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 58,621 shares of company stock worth $2,123,964. Insiders own 2.47% of the company’s stock.

Analyst Ratings Changes

TILE has been the topic of a number of recent research reports. Wall Street Zen downgraded Interface from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Barrington Research lifted their target price on Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Zacks Research downgraded shares of Interface from a “strong-buy” rating to a “hold” rating in a report on Friday, October 9th. Finally, Weiss Ratings upgraded shares of Interface from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, October 12th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Interface presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

Interface Trading Down 0.2%

NASDAQ:TILE opened at $36.42 on Friday. Interface, Inc. has a 52 week low of $24.40 and a 52 week high of $40.50. The firm has a 50 day moving average of $35.98 and a 200 day moving average of $32.92. The company has a quick ratio of 1.35, a current ratio of 2.53 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 1.03 and a beta of 1.99.

Interface (NASDAQ:TILE) last announced its earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.24. Interface had a net margin of 10.10% and a return on equity of 21.77%. The company had revenue of $395.70 million during the quarter, compared to the consensus estimate of $391.22 million. During the same period last year, the firm earned $0.60 earnings per share. Interface’s revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Interface, Inc. will post 2.36 earnings per share for the current fiscal year.

Interface Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, September 4th. Interface’s dividend payout ratio is currently 4.86%.

About Interface

Interface, Inc designs and manufactures modular flooring products for commercial, institutional and residential interiors. Its portfolio includes carpet tile, broadloom carpet and resilient flooring, including luxury vinyl tile. The company serves markets such as corporate offices, hospitality, education, healthcare and retail.

Founded in 1973 by Ray Anderson, Interface is headquartered in Atlanta, Georgia, and sells its products through a global network serving customers in North America, Europe and the Asia-Pacific region.