Invesco Ltd. Sells 206,404 Shares of Interface, Inc. (NASDAQ:TILE)

Invesco Ltd. reduced its stake in Interface, Inc. (NASDAQ:TILE) by 13.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,274,152 shares of the textile maker’s stock after selling 206,404 shares during the period. Invesco Ltd.’s holdings in Interface were worth $31,026,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of TILE. Vanguard Group Inc. lifted its position in shares of Interface by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 6,116,464 shares of the textile maker’s stock worth $148,936,000 after buying an additional 246,726 shares in the last quarter. State Street Corp increased its stake in Interface by 0.6% in the 3rd quarter. State Street Corp now owns 2,232,327 shares of the textile maker’s stock worth $42,347,000 after acquiring an additional 13,686 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Interface by 12.3% during the 4th quarter. American Century Companies Inc. now owns 1,992,296 shares of the textile maker’s stock worth $48,512,000 after acquiring an additional 218,113 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Interface by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,371,976 shares of the textile maker’s stock valued at $26,031,000 after acquiring an additional 11,931 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of Interface by 25.9% in the fourth quarter. Prudential Financial Inc. now owns 676,030 shares of the textile maker’s stock valued at $16,461,000 after purchasing an additional 139,150 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Director Daniel T. Hendrix sold 7,500 shares of Interface stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $19.95, for a total transaction of $149,625.00. Following the completion of the sale, the director now directly owns 96,147 shares in the company, valued at approximately $1,918,132.65. This trade represents a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by insiders.

Interface Price Performance

Shares of Interface stock opened at $18.58 on Friday. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 0.96 and a beta of 1.93. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57. The stock has a 50 day moving average price of $19.85 and a 200-day moving average price of $22.13. Interface, Inc. has a one year low of $14.13 and a one year high of $27.34.

Interface (NASDAQ:TILE) last posted its quarterly earnings data on Tuesday, February 25th. The textile maker reported $0.34 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $340.51 million. During the same period in the previous year, the firm earned $0.41 earnings per share. Interface’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts expect that Interface, Inc. will post 1.37 EPS for the current year.

Interface Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend was Friday, March 28th. Interface’s dividend payout ratio (DPR) is currently 2.72%.

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.