Pzena Investment Management LLC Sells 1,377,959 Shares of Interface, Inc. (NASDAQ:TILE)

Pzena Investment Management LLC lowered its holdings in Interface, Inc. (NASDAQ:TILE) by 81.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 317,299 shares of the textile maker’s stock after selling 1,377,959 shares during the quarter. Pzena Investment Management LLC’s holdings in Interface were worth $6,019,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of TILE. SG Americas Securities LLC bought a new stake in shares of Interface during the 1st quarter valued at $110,000. ProShare Advisors LLC increased its position in shares of Interface by 7.4% during the first quarter. ProShare Advisors LLC now owns 11,576 shares of the textile maker’s stock valued at $195,000 after buying an additional 794 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Interface by 182.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 130,020 shares of the textile maker’s stock worth $2,187,000 after buying an additional 83,932 shares in the last quarter. Vanguard Group Inc. boosted its position 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 valued at $89,125,000 after acquiring an additional 43,184 shares during the period. Finally, Acadian Asset Management LLC grew its stake in Interface by 8.9% during the first quarter. Acadian Asset Management LLC now owns 120,078 shares of the textile maker’s stock valued at $2,017,000 after acquiring an additional 9,807 shares in the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Interface Stock Up 2.1 %

Shares of NASDAQ TILE opened at $25.47 on Thursday. The business has a 50-day moving average of $20.22 and a 200-day moving average of $17.62. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.21 and a beta of 1.97. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. Interface, Inc. has a 12 month low of $9.87 and a 12 month high of $26.11.

Interface (NASDAQ:TILE) last issued its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.14. Interface had a net margin of 6.49% and a return on equity of 19.91%. The firm had revenue of $344.30 million for the quarter, compared to analyst estimates of $336.39 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. Sell-side analysts expect that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Announces Dividend

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

Insider Transactions at Interface

In other Interface news, VP Stansfield Nigel sold 20,000 shares of Interface stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $24.12, for a total transaction 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. This trade represents a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on TILE. Barrington Research increased their target price on shares of Interface from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. StockNews.com downgraded 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.