Cornercap Investment Counsel Inc. Has $325,000 Holdings in Interface, Inc. (NASDAQ:TILE)

Cornercap Investment Counsel Inc. cut its stake in Interface, Inc. (NASDAQ:TILE) by 53.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,152 shares of the textile maker’s stock after selling 19,434 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Interface were worth $325,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. SG Americas Securities LLC increased its stake in Interface by 1,195.5% during the 2nd quarter. SG Americas Securities LLC now owns 84,647 shares of the textile maker’s stock worth $1,243,000 after purchasing an additional 78,113 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Interface by 182.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 130,020 shares of the textile maker’s stock valued at $2,187,000 after buying an additional 83,932 shares in the last quarter. Private Advisor Group LLC bought a new position in Interface during the third quarter worth $790,000. Renaissance Technologies LLC boosted its position in Interface by 11.0% during the second quarter. Renaissance Technologies LLC now owns 345,400 shares of the textile maker’s stock worth $5,070,000 after purchasing an additional 34,200 shares during the period. Finally, First Eagle Investment Management LLC boosted its position in Interface by 46.5% during the second quarter. First Eagle Investment Management LLC now owns 176,617 shares of the textile maker’s stock worth $2,593,000 after purchasing an additional 56,093 shares during the period. 98.34% of the stock is owned by institutional investors.

Insider Activity at Interface

In other news, VP Stansfield Nigel sold 20,000 shares of the business’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 completion of the transaction, the vice president now owns 144,355 shares in the company, valued at $3,481,842.60. The trade was a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel T. Hendrix sold 3,555 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $17.53, for a total value of $62,319.15. Following the sale, the director now owns 191,147 shares of the company’s stock, valued at approximately $3,350,806.91. This trade represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Interface Trading Down 1.5 %

Shares of Interface stock opened at $24.99 on Monday. Interface, Inc. has a 1 year low of $9.78 and a 1 year high of $26.11. The firm has a market cap of $1.46 billion, a PE ratio of 17.48, a P/E/G ratio of 1.22 and a beta of 1.97. The stock has a fifty day moving average price of $19.93 and a 200-day moving average price of $17.48. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38.

Interface (NASDAQ:TILE) last issued its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share (EPS) 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 for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $0.28 EPS. Equities research analysts anticipate that Interface, Inc. will post 1.37 EPS for the current year.

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.