Interface, Inc. (NASDAQ:TILE) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its stake in shares of Interface, Inc. (NASDAQ:TILE) by 43.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 509,341 shares of the textile maker’s stock after purchasing an additional 154,041 shares during the period. Renaissance Technologies LLC’s holdings in Interface were worth $12,402,000 at the end of the most recent reporting period.

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

Interface Stock Performance

Shares of Interface stock opened at $18.96 on Wednesday. The business’s fifty day simple moving average is $20.02 and its 200-day simple moving average is $22.15. 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 firm has a market cap of $1.11 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 0.96 and a beta of 1.93. Interface, Inc. has a 52 week low of $14.13 and a 52 week high of $27.34.

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 the consensus estimate of $0.29 by $0.05. The company had revenue of $335.00 million during the quarter, compared to analyst estimates of $340.51 million. Interface had a net margin of 6.49% and a return on equity of 19.91%. Interface’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 earnings per share. Equities analysts forecast that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a dividend of $0.01 per share. The ex-dividend date was Friday, March 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.21%. Interface’s dividend payout ratio is currently 2.72%.

Insider Buying and Selling

In other news, Director Daniel T. Hendrix sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $23.78, for a total value of $297,250.00. Following the completion of the transaction, the director now owns 103,647 shares of the company’s stock, valued at approximately $2,464,725.66. This trade represents a 10.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Barrington Research reissued an “outperform” rating and issued a $30.00 price objective on shares of Interface in a report on Tuesday. StockNews.com cut shares of Interface from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th.

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.