Teacher Retirement System of Texas Has $8.40 Million Stake in Interface, Inc. (NASDAQ:TILE)

Teacher Retirement System of Texas reduced its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 27.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 344,929 shares of the textile maker’s stock after selling 132,666 shares during the period. Teacher Retirement System of Texas owned about 0.59% of Interface worth $8,399,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Harvest Fund Management Co. Ltd acquired a new stake in shares of Interface during the 4th quarter valued at about $122,000. Intech Investment Management LLC boosted its position in shares of Interface by 464.9% during the 4th quarter. Intech Investment Management LLC now owns 105,923 shares of the textile maker’s stock valued at $2,579,000 after acquiring an additional 87,171 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of 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 acquiring an additional 28,000 shares in the last quarter. Moran Wealth Management LLC acquired a new stake in shares of Interface during the 4th quarter valued at about $272,000. Finally, AlphaQuest LLC acquired a new stake in shares of Interface during the 4th quarter valued at about $103,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Interface news, Director Daniel T. Hendrix sold 7,500 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $19.95, for a total value of $149,625.00. Following the completion of the transaction, the director now directly owns 96,147 shares of the company’s stock, valued at approximately $1,918,132.65. The trade was a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 32,500 shares of company stock valued at $748,125. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

TILE has been the topic of several recent research reports. Barrington Research reiterated an “outperform” rating and set a $30.00 target price on shares of Interface in a research report on Tuesday, February 25th. StockNews.com lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th.

Interface Price Performance

NASDAQ:TILE opened at $19.74 on Friday. The firm has a market cap of $1.15 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.96 and a beta of 2.18. Interface, Inc. has a 12 month low of $14.13 and a 12 month high of $27.34. 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 company’s 50-day moving average price is $21.86 and its two-hundred day moving average price is $22.06.

Interface (NASDAQ:TILE) last announced its earnings results on Tuesday, February 25th. The textile maker reported $0.34 earnings per share 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 company had revenue of $335.00 million during the quarter, compared to the consensus estimate of $340.51 million. During the same period in the previous year, the firm posted $0.41 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts anticipate that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Dividend Announcement

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