Jennison Associates LLC Takes Position in Interface, Inc. (NASDAQ:TILE)

Jennison Associates LLC purchased a new position in shares of Interface, Inc. (NASDAQ:TILE) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 32,230 shares of the textile maker’s stock, valued at approximately $611,000.

A number of other institutional investors have also recently bought and sold shares of TILE. Hennessy Advisors Inc. bought a new position in shares of Interface in the second quarter valued at about $7,430,000. American Century Companies Inc. raised its holdings in Interface by 22.3% in the 2nd quarter. American Century Companies Inc. now owns 1,563,447 shares of the textile maker’s stock valued at $22,951,000 after acquiring an additional 285,353 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Interface by 10.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,691,190 shares of the textile maker’s stock worth $39,507,000 after acquiring an additional 247,350 shares during the period. Algert Global LLC acquired a new position in shares of Interface in the second quarter valued at approximately $1,828,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Interface by 57.0% during the first quarter. Jacobs Levy Equity Management Inc. now owns 336,736 shares of the textile maker’s stock worth $5,664,000 after purchasing an additional 122,249 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

Insider Activity at Interface

In related news, CFO Bruce Andrew Hausmann sold 30,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $25.50, for a total value of $765,000.00. Following the sale, the chief financial officer now directly owns 168,475 shares of the company’s stock, valued at $4,296,112.50. This trade represents a 15.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Stansfield Nigel sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $24.12, for a total value of $482,400.00. Following the transaction, the vice president now directly owns 144,355 shares of the company’s stock, valued at approximately $3,481,842.60. The trade was a 12.17 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Interface Price Performance

Interface stock opened at $25.46 on Monday. The firm has a market cap of $1.48 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 1.23 and a beta of 1.97. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. The stock’s fifty day moving average price is $20.64 and its two-hundred day moving average price is $17.81. Interface, Inc. has a one year low of $9.87 and a one year high of $26.11.

Interface (NASDAQ:TILE) last posted its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.14. The business 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%. Interface’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 earnings per share. As a group, research analysts expect that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. Interface’s dividend payout ratio is 2.80%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TILE. Barrington Research upped their price objective on Interface from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, November 1st. StockNews.com lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th.

Interface Company 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.