Interface, Inc. (NASDAQ:TILE) Stock Position Lowered by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC lessened its position in Interface, Inc. (NASDAQ:TILE) by 33.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 377,540 shares of the textile maker’s stock after selling 191,200 shares during the quarter. Hotchkis & Wiley Capital Management LLC’s holdings in Interface were worth $7,162,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in TILE. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Interface by 1.1% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,892,968 shares of the textile maker’s stock worth $42,469,000 after buying an additional 31,224 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Interface by 10.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,691,190 shares of the textile maker’s stock worth $39,507,000 after buying an additional 247,350 shares in the last quarter. American Century Companies Inc. lifted its position 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 worth $22,951,000 after buying an additional 285,353 shares in the last quarter. Meros Investment Management LP lifted its position in Interface by 1.5% in the 2nd quarter. Meros Investment Management LP now owns 698,305 shares of the textile maker’s stock worth $10,251,000 after buying an additional 10,616 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in Interface in the 2nd quarter worth approximately $7,430,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Insider Buying and Selling

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

Interface Stock Up 0.6 %

Interface stock opened at $26.44 on Thursday. The company has a market capitalization of $1.54 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.29 and a beta of 2.09. The firm’s fifty day simple moving average is $21.89 and its 200-day simple moving average is $18.39. 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 1-year low of $10.71 and a 1-year high of $27.34.

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

Interface Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.01 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.04 annualized dividend and a yield of 0.15%. Interface’s dividend payout ratio (DPR) is presently 2.80%.

Analyst Ratings Changes

A number of research firms have issued reports on TILE. StockNews.com downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Barrington Research increased their price target 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.

Interface 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.