KBC Group NV reduced its holdings in Interface, Inc. (NASDAQ:TILE) by 33.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,531 shares of the textile maker’s stock after selling 33,492 shares during the period. KBC Group NV owned about 0.11% of Interface worth $1,005,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Frontier Capital Management Co. LLC boosted its holdings in Interface by 24.2% during the first quarter. Frontier Capital Management Co. LLC now owns 4,555,383 shares of the textile maker’s stock worth $69,788,000 after buying an additional 887,883 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Interface by 1.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,485,804 shares of the textile maker’s stock worth $35,423,000 after buying an additional 45,312 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in Interface by 4.8% during the first quarter. Westwood Holdings Group Inc. now owns 2,439,458 shares of the textile maker’s stock worth $37,372,000 after buying an additional 111,593 shares in the last quarter. Trillium Asset Management LLC boosted its holdings in Interface by 348.9% during the first quarter. Trillium Asset Management LLC now owns 390,863 shares of the textile maker’s stock worth $5,988,000 after buying an additional 303,801 shares in the last quarter. Finally, Comerica Bank boosted its holdings in Interface by 0.5% during the first quarter. Comerica Bank now owns 188,712 shares of the textile maker’s stock worth $3,059,000 after buying an additional 871 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.
TILE traded up $0.21 on Friday, reaching $13.28. 1,005 shares of the company’s stock were exchanged, compared to its average volume of 359,609. The company has a market cap of $633.49 million, a price-to-earnings ratio of 8.91 and a beta of 1.51. Interface, Inc. has a twelve month low of $10.37 and a twelve month high of $23.80. The company’s 50 day moving average is $11.92 and its 200-day moving average is $14.89. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.33 and a current ratio of 2.49.
Interface (NASDAQ:TILE) last announced its quarterly earnings data on Thursday, July 25th. The textile maker reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The firm had revenue of $357.50 million for the quarter, compared to analysts’ expectations of $358.37 million. Interface had a return on equity of 24.81% and a net margin of 3.90%. The firm’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same period last year, the business posted $0.42 earnings per share. Sell-side analysts forecast that Interface, Inc. will post 1.52 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Thursday, August 8th. Interface’s dividend payout ratio (DPR) is presently 17.45%.
Several research firms have issued reports on TILE. BidaskClub raised shares of Interface from a “strong sell” rating to a “sell” rating in a report on Saturday, September 7th. Zacks Investment Research downgraded shares of Interface from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. ValuEngine cut shares of Interface from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. Finally, SunTrust Banks set a $17.00 price objective on shares of Interface and gave the company a “buy” rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Interface presently has a consensus rating of “Hold” and an average target price of $20.33.
Interface, Inc, a modular flooring company, designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific. The company offers modular carpets under the Interface and FLOR names; carpet tiles under the GlasBacRE name for use in commercial interiors, including offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; modular resilient flooring products; rubber flooring under the norament and noraplan brands; and luxury vinyl tile products.
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