Summit Global Investments Buys New Shares in Interface, Inc. (NASDAQ:TILE)

Summit Global Investments purchased a new position in Interface, Inc. (NASDAQ:TILE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 13,118 shares of the textile maker’s stock, valued at approximately $319,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Millstone Evans Group LLC bought a new stake in Interface during the 4th quarter valued at approximately $108,000. Harvest Fund Management Co. Ltd bought a new position in shares of Interface during the 4th quarter valued at about $122,000. Intech Investment Management LLC grew its position in shares of Interface by 464.9% during the fourth quarter. Intech Investment Management LLC now owns 105,923 shares of the textile maker’s stock valued at $2,579,000 after purchasing an additional 87,171 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in Interface by 15.3% during the 4th quarter. First Eagle Investment Management LLC now owns 210,617 shares of the textile maker’s stock valued at $5,129,000 after buying an additional 28,000 shares in the last quarter. Finally, Moran Wealth Management LLC purchased a new position in shares of Interface in the fourth quarter valued at $272,000. 98.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Daniel T. Hendrix sold 12,500 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $23.78, for a total transaction of $297,250.00. Following the transaction, the director now owns 103,647 shares of the company’s stock, valued at approximately $2,464,725.66. This represents a 10.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 32,500 shares of company stock valued at $748,125 over the last quarter. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on TILE shares. StockNews.com cut Interface from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Barrington Research reissued an “outperform” rating and issued a $30.00 price objective on shares of Interface in a research note on Tuesday, February 25th.

Interface Stock Performance

Shares of Interface stock opened at $20.34 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. The stock’s fifty day moving average is $21.81 and its two-hundred day moving average is $22.10. Interface, Inc. has a 52 week low of $14.13 and a 52 week high of $27.34. The company has a market capitalization of $1.19 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.96 and a beta of 2.18.

Interface (NASDAQ:TILE) last posted its quarterly earnings results on Tuesday, February 25th. The textile maker reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Interface had a net margin of 6.49% and a return on equity of 19.91%. The firm had revenue of $335.00 million for the quarter, compared to analysts’ expectations of $340.51 million. During the same period in the prior year, the business posted $0.41 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, analysts expect that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.01 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.20%. Interface’s payout ratio is 2.72%.

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.