Independent Advisor Alliance Sells 21,878 Shares of Interface, Inc. (NASDAQ:TILE)

Independent Advisor Alliance lowered its stake in shares of Interface, Inc. (NASDAQ:TILE) by 32.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,668 shares of the textile maker’s stock after selling 21,878 shares during the period. Independent Advisor Alliance owned 0.08% of Interface worth $866,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Interface by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 5,298,736 shares of the textile maker’s stock worth $89,125,000 after acquiring an additional 43,184 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Interface by 1.1% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,892,968 shares of the textile maker’s stock worth $42,469,000 after acquiring an additional 31,224 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Interface by 10.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,691,190 shares of the textile maker’s stock worth $39,507,000 after acquiring an additional 247,350 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Interface by 22.3% during the 2nd quarter. American Century Companies Inc. now owns 1,563,447 shares of the textile maker’s stock worth $22,951,000 after acquiring an additional 285,353 shares during the last quarter. Finally, Meros Investment Management LP increased its holdings in shares of Interface by 1.5% during the 2nd quarter. Meros Investment Management LP now owns 698,305 shares of the textile maker’s stock worth $10,251,000 after acquiring an additional 10,616 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

Interface Stock Performance

Shares of NASDAQ TILE opened at $26.52 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. The stock’s fifty day moving average price is $21.11 and its two-hundred day moving average price is $18.02. Interface, Inc. has a one year low of $9.87 and a one year high of $27.34. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 1.29 and a beta of 1.97.

Interface (NASDAQ:TILE) last released its earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.14. The firm had revenue of $344.30 million during the quarter, compared to the consensus estimate of $336.39 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS. On average, equities analysts forecast that Interface, Inc. will post 1.37 EPS for the current 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 given a dividend of $0.01 per share. The ex-dividend date is Friday, November 29th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.15%. Interface’s payout ratio is 2.80%.

Insider Activity

In related news, CFO Bruce Andrew Hausmann sold 30,000 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $25.50, for a total transaction of $765,000.00. Following the completion of the sale, the chief financial officer now directly owns 168,475 shares in the company, valued at $4,296,112.50. This represents a 15.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Stansfield Nigel sold 20,000 shares of the company’s stock in a transaction 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 sale, the vice president now owns 144,355 shares of the company’s stock, valued at approximately $3,481,842.60. This represents a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Barrington Research boosted their target price on Interface from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com lowered Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th.

About Interface

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.