Cornerstone Investment Partners LLC Purchases Shares of 9,534 Interface, Inc. (NASDAQ:TILE)

Cornerstone Investment Partners LLC purchased a new stake in Interface, Inc. (NASDAQ:TILE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,534 shares of the textile maker’s stock, valued at approximately $232,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HighTower Advisors LLC bought a new position in shares of Interface in the 3rd quarter valued at about $1,138,000. Sanctuary Advisors LLC bought a new position in shares of Interface in the 3rd quarter valued at about $1,661,000. BNP Paribas Financial Markets grew its holdings in shares of Interface by 13.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 29,555 shares of the textile maker’s stock valued at $561,000 after acquiring an additional 3,464 shares in the last quarter. FMR LLC grew its holdings in shares of Interface by 138.8% in the 3rd quarter. FMR LLC now owns 95,215 shares of the textile maker’s stock valued at $1,806,000 after acquiring an additional 55,345 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Interface by 103.2% in the 4th quarter. Jennison Associates LLC now owns 65,494 shares of the textile maker’s stock valued at $1,595,000 after acquiring an additional 33,264 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Interface Trading Down 5.6 %

Shares of TILE stock opened at $19.09 on Tuesday. The firm has a 50 day moving average price of $23.31 and a two-hundred day moving average price of $22.01. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $1.11 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 0.96 and a beta of 2.10. Interface, Inc. has a 12-month low of $14.13 and a 12-month high of $27.34.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Tuesday, February 25th. The textile maker reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Interface had a net margin of 6.49% and a return on equity of 19.91%. The company had revenue of $335.00 million during the quarter, compared to the consensus estimate of $340.51 million. During the same period in the previous year, the business earned $0.41 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, analysts predict that Interface, Inc. will post 1.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TILE shares. Barrington Research restated an “outperform” rating and issued a $30.00 price objective on shares of Interface in a report on Tuesday, February 25th. StockNews.com cut Interface from a “strong-buy” rating to a “buy” rating in a report on Tuesday.

Insider Buying and Selling at Interface

In related news, VP David B. Foshee sold 15,175 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $26.27, for a total value of $398,647.25. Following the sale, the vice president now owns 202,398 shares of the company’s stock, valued at $5,316,995.46. The trade was a 6.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel T. Hendrix sold 18,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $26.33, for a total transaction of $473,940.00. Following the completion of the sale, the director now directly owns 153,147 shares in the company, valued at approximately $4,032,360.51. This represents a 10.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,175 shares of company stock worth $1,471,087 over the last three months. Corporate insiders own 2.60% of the company’s stock.

Interface 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.