Harvest Fund Management Co. Ltd Makes New Investment in Interface, Inc. (NASDAQ:TILE)

Harvest Fund Management Co. Ltd acquired a new position in shares of Interface, Inc. (NASDAQ:TILE) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,967 shares of the textile maker’s stock, valued at approximately $122,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TILE. KBC Group NV raised its holdings in Interface by 70.7% during the 3rd quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock worth $66,000 after purchasing an additional 1,438 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Interface during the 3rd quarter worth about $611,000. Intech Investment Management LLC acquired a new position in shares of Interface during the 3rd quarter worth about $356,000. Algert Global LLC grew its position in shares of Interface by 54.2% in the 3rd quarter. Algert Global LLC now owns 192,071 shares of the textile maker’s stock valued at $3,644,000 after purchasing an additional 67,539 shares during the period. Finally, FMR LLC grew its position in shares of Interface by 138.8% in the 3rd 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. 98.34% of the stock is owned by institutional investors.

Insider Transactions at Interface

In related news, Director Daniel T. Hendrix sold 7,500 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $19.95, for a total value of $149,625.00. Following the sale, the director now owns 96,147 shares in the company, valued at approximately $1,918,132.65. This represents a 7.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 32,500 shares of company stock worth $748,125 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Interface Trading Down 0.1 %

Shares of Interface stock opened at $19.74 on Friday. Interface, Inc. has a 12-month low of $14.13 and a 12-month high of $27.34. The stock has a market cap of $1.15 billion, a P/E ratio of 13.80, a P/E/G ratio of 0.96 and a beta of 2.18. 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 business’s 50 day moving average is $21.86 and its 200-day moving average is $22.06.

Interface (NASDAQ:TILE) last announced its quarterly earnings data on Tuesday, February 25th. The textile maker reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Interface had a return on equity of 19.91% and a net margin of 6.49%. The company had revenue of $335.00 million for the quarter, compared to analysts’ expectations of $340.51 million. During the same quarter in the prior year, the business posted $0.41 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts predict that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.01 per share. 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 currently 2.72%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Barrington Research reiterated an “outperform” rating and issued a $30.00 price objective on shares of Interface in a research report on Tuesday, February 25th. StockNews.com cut 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.