First Mercantile Trust Co. grew its holdings in Interface, Inc. (NASDAQ:TILE) by 20.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,411 shares of the textile maker’s stock after acquiring an additional 4,252 shares during the quarter. First Mercantile Trust Co.’s holdings in Interface were worth $367,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Interface by 100.8% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,992 shares of the textile maker’s stock worth $46,000 after acquiring an additional 1,502 shares in the last quarter. Quest Capital Management Inc. ADV bought a new position in shares of Interface during the third quarter worth about $50,000. Quantamental Technologies LLC grew its holdings in shares of Interface by 678.7% during the second quarter. Quantamental Technologies LLC now owns 4,384 shares of the textile maker’s stock worth $67,000 after buying an additional 3,821 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Interface by 783.0% during the third quarter. Signaturefd LLC now owns 4,724 shares of the textile maker’s stock worth $68,000 after buying an additional 4,189 shares in the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in shares of Interface during the second quarter worth about $77,000. Institutional investors own 89.87% of the company’s stock.
In related news, Director Christopher G. Kennedy purchased 44,160 shares of Interface stock in a transaction that occurred on Wednesday, September 25th. The stock was purchased at an average cost of $13.73 per share, with a total value of $606,316.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.
Interface (NASDAQ:TILE) last issued its quarterly earnings results on Friday, October 25th. The textile maker reported $0.47 EPS for the quarter, beating the consensus estimate of $0.42 by $0.05. Interface had a return on equity of 25.71% and a net margin of 5.16%. The firm had revenue of $348.40 million during the quarter, compared to analysts’ expectations of $346.58 million. During the same period in the prior year, the firm posted $0.41 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, research analysts predict that Interface, Inc. will post 1.53 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a dividend of $0.065 per share. The ex-dividend date is Thursday, November 7th. This represents a $0.26 annualized dividend and a yield of 1.53%. Interface’s dividend payout ratio (DPR) is presently 17.45%.
TILE has been the subject of a number of research reports. BidaskClub upgraded Interface from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Longbow Research downgraded Interface from a “buy” rating to a “neutral” rating in a report on Monday, October 28th. Zacks Investment Research downgraded Interface from a “hold” rating to a “sell” rating in a report on Sunday, November 3rd. ValuEngine downgraded Interface from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Finally, SunTrust Banks set a $17.00 price objective on Interface and gave the stock a “buy” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $20.50.
Interface, Inc, a modular flooring company, designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific. The company offers modular carpets under the Interface and FLOR names; carpet tiles under the GlasBacRE name for use in commercial interiors, including offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; modular resilient flooring products; rubber flooring under the norament and noraplan brands; and luxury vinyl tile products.
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