Algert Global LLC Boosts Position in Interface, Inc. (NASDAQ:TILE)

Algert Global LLC increased its position in shares of Interface, Inc. (NASDAQ:TILE) by 54.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 192,071 shares of the textile maker’s stock after buying an additional 67,539 shares during the quarter. Algert Global LLC owned about 0.33% of Interface worth $3,644,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TILE. Innealta Capital LLC acquired a new stake in shares of Interface during the second quarter worth about $32,000. KBC Group NV raised its position in Interface by 70.7% in the 3rd quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock valued at $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 about $70,000. DekaBank Deutsche Girozentrale acquired a new stake in Interface during the 2nd quarter worth approximately $91,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Interface during the second quarter worth $106,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Insiders Place Their Bets

In other news, VP Stansfield Nigel sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $24.12, for a total transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Bruce Andrew Hausmann sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $25.50, for a total value 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 approximately $4,296,112.50. The trade was a 15.12 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TILE has been the subject of a number of analyst reports. Barrington Research upped their price objective on shares of Interface from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. StockNews.com cut shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th.

Interface Price Performance

Interface stock opened at $26.60 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57. Interface, Inc. has a one year low of $9.87 and a one year high of $26.61. The company has a market cap of $1.55 billion, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 1.24 and a beta of 1.97. The business has a fifty day moving average of $20.80 and a two-hundred day moving average of $17.89.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Friday, November 1st. The textile maker reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.14. Interface had a net margin of 6.49% and a return on equity of 19.91%. The firm had revenue of $344.30 million for the quarter, compared to the consensus estimate of $336.39 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. As a group, analysts predict that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Dividend Announcement

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

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.