Interface, Inc. (NASDAQ:TILE) Sees Significant Growth in Short Interest

Interface, Inc. (NASDAQ:TILE) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 1,860,000 shares, a growth of 24.8% from the August 15th total of 1,490,000 shares. Approximately 3.3% of the company’s stock are short sold. Based on an average daily volume of 441,400 shares, the short-interest ratio is presently 4.2 days.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TILE shares. StockNews.com upgraded Interface from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 6th. Barrington Research reiterated an “outperform” rating and set a $22.00 target price on shares of Interface in a research report on Friday, August 2nd.

Interface Stock Performance

Shares of Interface stock traded down $0.04 during trading hours on Monday, reaching $18.83. The company had a trading volume of 1,304 shares, compared to its average volume of 413,755. The firm has a market cap of $1.10 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 0.94 and a beta of 1.98. Interface has a one year low of $8.26 and a one year high of $19.15. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.76 and a quick ratio of 1.45. The business has a fifty day simple moving average of $17.16 and a 200 day simple moving average of $16.16.

Interface (NASDAQ:TILE) last issued its earnings results on Friday, August 2nd. The textile maker reported $0.40 EPS for the quarter, topping the consensus estimate of $0.28 by $0.12. The business had revenue of $346.60 million during the quarter, compared to the consensus estimate of $340.21 million. Interface had a return on equity of 18.42% and a net margin of 5.20%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 EPS. On average, analysts anticipate that Interface will post 1.28 earnings per share for the current fiscal year.

Interface Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend was Friday, August 30th. Interface’s payout ratio is presently 3.96%.

Insiders Place Their Bets

In other news, Director Daniel T. Hendrix sold 2,153 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $14.67, for a total value of $31,584.51. Following the transaction, the director now owns 246,147 shares in the company, valued at approximately $3,610,976.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Daniel T. Hendrix sold 2,153 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $14.67, for a total transaction of $31,584.51. Following the completion of the transaction, the director now owns 246,147 shares in the company, valued at $3,610,976.49. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Daniel T. Hendrix sold 3,555 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $17.53, for a total transaction of $62,319.15. Following the completion of the transaction, the director now owns 191,147 shares in the company, valued at $3,350,806.91. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,858 shares of company stock valued at $2,091,604. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Interface

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Interface by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,298,736 shares of the textile maker’s stock worth $89,125,000 after buying an additional 43,184 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Interface by 1.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,892,968 shares of the textile maker’s stock worth $42,469,000 after purchasing an additional 31,224 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Interface by 10.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,691,190 shares of the textile maker’s stock valued at $39,507,000 after purchasing an additional 247,350 shares during the period. Wellington Management Group LLP raised its position in shares of Interface by 0.5% in the 4th quarter. Wellington Management Group LLP now owns 2,508,961 shares of the textile maker’s stock worth $31,663,000 after acquiring an additional 12,847 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Interface by 22.3% in the second quarter. American Century Companies Inc. now owns 1,563,447 shares of the textile maker’s stock worth $22,951,000 after purchasing an additional 285,353 shares in the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

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.