Teacher Retirement System of Texas Sells 132,666 Shares of Interface, Inc. (NASDAQ:TILE)

Teacher Retirement System of Texas trimmed its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 27.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 344,929 shares of the textile maker’s stock after selling 132,666 shares during the quarter. Teacher Retirement System of Texas’ holdings in Interface were worth $8,399,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. HighTower Advisors LLC bought a new stake in shares of Interface during the third quarter worth approximately $1,138,000. Sanctuary Advisors LLC acquired a new position in Interface during the third quarter valued at approximately $1,661,000. BNP Paribas Financial Markets grew its holdings in Interface by 13.3% during the third quarter. BNP Paribas Financial Markets now owns 29,555 shares of the textile maker’s stock valued at $561,000 after purchasing an additional 3,464 shares during the period. FMR LLC grew its holdings in Interface by 138.8% during the third quarter. FMR LLC now owns 95,215 shares of the textile maker’s stock valued at $1,806,000 after purchasing an additional 55,345 shares during the period. Finally, Jennison Associates LLC grew its holdings in Interface by 103.2% during the fourth quarter. Jennison Associates LLC now owns 65,494 shares of the textile maker’s stock valued at $1,595,000 after purchasing an additional 33,264 shares during the period. 98.34% of the stock is owned by institutional investors.

Interface Stock Down 0.1 %

Interface stock opened at $19.74 on Friday. The stock has a market capitalization 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 twelve month low of $14.13 and a twelve 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 has a 50 day moving average of $21.86 and a 200-day moving average of $22.06.

Interface (NASDAQ:TILE) last announced its earnings results 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 business had revenue of $335.00 million during the quarter, compared to analysts’ expectations of $340.51 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. On average, equities research analysts anticipate that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend is Friday, March 28th. Interface’s dividend payout ratio (DPR) is currently 2.72%.

Insiders Place Their Bets

In other Interface news, Director Daniel T. Hendrix sold 12,500 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $23.78, for a total transaction of $297,250.00. Following the sale, the director now directly owns 103,647 shares of the company’s stock, valued at approximately $2,464,725.66. This represents a 10.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 32,500 shares of company stock valued at $748,125. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Barrington Research restated an “outperform” rating and set a $30.00 price objective on shares of Interface in a report on Tuesday, February 25th. StockNews.com cut shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th.

About Interface

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.