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

Interface, Inc. (NASDAQ:TILE) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 3,550,000 shares, a growth of 20.3% from the February 28th total of 2,950,000 shares. Based on an average trading volume of 576,600 shares, the short-interest ratio is presently 6.2 days. Approximately 6.3% of the company’s shares are sold short.

Insider Buying and Selling at Interface

In other news, Director Daniel T. Hendrix sold 12,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $24.10, for a total transaction of $301,250.00. Following the completion of the transaction, the director now directly owns 116,147 shares in the company, valued at approximately $2,799,142.70. The trade was a 9.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 32,500 shares of company stock worth $748,125. Insiders own 2.60% of the company’s stock.

Institutional Trading of Interface

Institutional investors have recently modified their holdings of the company. Venturi Wealth Management LLC raised its position in Interface by 204.4% in the 4th quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker’s stock valued at $27,000 after buying an additional 750 shares during the last quarter. Huntington National Bank bought a new position in shares of Interface during the 4th quarter worth approximately $28,000. Smartleaf Asset Management LLC raised its holdings in shares of Interface by 78.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 546 shares during the last quarter. Principal Securities Inc. lifted its position in shares of Interface by 103.1% in the fourth quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker’s stock worth $36,000 after purchasing an additional 741 shares in the last quarter. Finally, Quarry LP boosted its holdings in Interface by 499.5% during the third quarter. Quarry LP now owns 2,476 shares of the textile maker’s stock worth $47,000 after purchasing an additional 2,063 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Interface Stock Up 1.0 %

Shares of NASDAQ TILE traded up $0.19 during mid-day trading on Wednesday, reaching $20.06. 60,218 shares of the company’s stock were exchanged, compared to its average volume of 513,888. Interface has a twelve month low of $14.13 and a twelve month high of $27.34. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.96 and a beta of 2.18. The business has a fifty day simple moving average of $21.33 and a 200 day simple moving average of $22.19.

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

Interface Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend is Friday, March 28th. Interface’s dividend payout ratio (DPR) is presently 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.