Weiss Asset Management LP Makes New Investment in Interface, Inc. (NASDAQ:TILE)

Weiss Asset Management LP purchased a new position in shares of Interface, Inc. (NASDAQ:TILE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 221,706 shares of the textile maker’s stock, valued at approximately $4,206,000.

Other hedge funds also recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of Interface during the second quarter worth $32,000. Quarry LP boosted its holdings in shares of Interface by 499.5% during the third quarter. Quarry LP now owns 2,476 shares of the textile maker’s stock worth $47,000 after purchasing an additional 2,063 shares during the last quarter. KBC Group NV boosted its holdings in shares of Interface by 70.7% during the third quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock worth $66,000 after purchasing an additional 1,438 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Interface during the third quarter worth $70,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Interface by 174.2% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,934 shares of the textile maker’s stock worth $113,000 after purchasing an additional 3,770 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Interface Stock Up 1.8 %

Shares of NASDAQ TILE opened at $26.52 on Friday. Interface, Inc. has a 1 year low of $10.75 and a 1 year high of $27.34. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 1.29 and a beta of 2.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57. The stock’s 50-day simple moving average is $22.21 and its 200-day simple moving average is $18.52.

Interface (NASDAQ:TILE) last posted its earnings results on Friday, November 1st. The textile maker reported $0.48 EPS for the quarter, beating the consensus estimate of $0.34 by $0.14. The company had revenue of $344.30 million during the quarter, compared to analyst estimates of $336.39 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 earnings per share. As a group, equities analysts anticipate that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.15%. The ex-dividend date is Friday, November 29th. Interface’s dividend payout ratio (DPR) is presently 2.80%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TILE shares. Barrington Research raised their price objective on Interface from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com cut Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th.

Insider Activity

In related news, Director Daniel T. Hendrix sold 18,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $26.33, for a total value of $473,940.00. Following the completion of the transaction, the director now directly owns 153,147 shares of the company’s stock, valued at $4,032,360.51. This represents a 10.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Stansfield Nigel sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $24.12, for a total value of $482,400.00. Following the completion of the transaction, the vice president now directly owns 144,355 shares of the company’s stock, valued at $3,481,842.60. This trade represents a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,175 shares of company stock valued at $2,119,987. 2.60% of the stock is currently owned by insiders.

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.