Municipal Employees Retirement System of Michigan increased its stake in shares of Interface, Inc. (NASDAQ:TILE) by 55.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,570 shares of the textile maker’s stock after acquiring an additional 8,410 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Interface were worth $516,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. raised its stake in Interface by 3.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 430,386 shares of the textile maker’s stock worth $8,458,000 after acquiring an additional 16,228 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Interface by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,112,169 shares of the textile maker’s stock worth $41,504,000 after acquiring an additional 36,699 shares in the last quarter. State Street Corp raised its stake in Interface by 3.1% during the 2nd quarter. State Street Corp now owns 1,580,198 shares of the textile maker’s stock worth $31,057,000 after acquiring an additional 46,986 shares in the last quarter. OxFORD Asset Management LLP acquired a new stake in Interface during the 2nd quarter worth $601,000. Finally, Dimensional Fund Advisors LP raised its stake in Interface by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,447,960 shares of the textile maker’s stock worth $48,102,000 after acquiring an additional 7,975 shares in the last quarter. Hedge funds and other institutional investors own 93.20% of the company’s stock.
In other Interface news, Director Daniel T. Hendrix sold 5,000 shares of the firm’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $21.45, for a total transaction of $107,250.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Christopher G. Kennedy sold 29,500 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $21.92, for a total transaction of $646,640.00. The disclosure for this sale can be found here. Insiders have sold a total of 84,000 shares of company stock worth $1,855,520 over the last three months. 1.90% of the stock is currently owned by insiders.
Interface, Inc. (NASDAQ:TILE) opened at $25.10 on Tuesday. Interface, Inc. has a 52-week low of $16.80 and a 52-week high of $25.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.40 and a current ratio of 2.51. The stock has a market cap of $1,500.25, a price-to-earnings ratio of 21.84 and a beta of 1.35.
Interface (NASDAQ:TILE) last issued its quarterly earnings data on Wednesday, October 25th. The textile maker reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Interface had a net margin of 5.53% and a return on equity of 21.39%. The company had revenue of $257.43 million for the quarter, compared to the consensus estimate of $255.63 million. During the same period last year, the firm posted $0.25 EPS. Interface’s revenue for the quarter was up 3.7% on a year-over-year basis. equities analysts anticipate that Interface, Inc. will post 1.15 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Friday, November 10th were given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 1.04%. The ex-dividend date was Thursday, November 9th. Interface’s payout ratio is currently 30.59%.
Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Interface from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Saturday, October 28th. Nomura lifted their price target on shares of Interface from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $23.00 price target on shares of Interface in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Interface currently has a consensus rating of “Hold” and a consensus target price of $23.50.
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Interface Inc is engaged in design, production and sale of modular carpet, also known as carpet tile. As of January 1, 2017, the Company marketed its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company operates through three segments: Americas, Europe and Asia-Pacific.
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