Pzena Investment Management LLC Has $6.02 Million Stake in Interface, Inc. (NASDAQ:TILE)

Pzena Investment Management LLC lessened its stake in shares of Interface, Inc. (NASDAQ:TILE) by 81.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 317,299 shares of the textile maker’s stock after selling 1,377,959 shares during the period. Pzena Investment Management LLC owned 0.54% of Interface worth $6,019,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TILE. Jennison Associates LLC bought a new position in Interface in the third quarter worth approximately $611,000. Segall Bryant & Hamill LLC raised its position in shares of Interface by 0.8% during the third quarter. Segall Bryant & Hamill LLC now owns 325,250 shares of the textile maker’s stock worth $6,170,000 after purchasing an additional 2,423 shares during the period. KBC Group NV lifted its holdings in shares of Interface by 70.7% in 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 in the last quarter. Versor Investments LP acquired a new stake in Interface in the 3rd quarter valued at $273,000. Finally, Privium Fund Management B.V. bought a new stake in Interface during the 3rd quarter valued at $508,000. 98.34% of the stock is owned by institutional investors.

Insider Transactions at Interface

In other Interface news, VP Stansfield Nigel sold 20,000 shares of Interface stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $24.12, for a total value of $482,400.00. Following the sale, the vice president now owns 144,355 shares of the company’s stock, valued at approximately $3,481,842.60. The trade was a 12.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.60% of the company’s stock.

Interface Stock Performance

Shares of TILE stock opened at $25.47 on Thursday. Interface, Inc. has a one year low of $9.87 and a one year high of $26.11. The company has a market cap of $1.48 billion, a P/E ratio of 17.81, a P/E/G ratio of 1.21 and a beta of 1.97. The firm has a 50-day moving average of $20.22 and a 200-day moving average of $17.62. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38.

Interface (NASDAQ:TILE) last posted its earnings results on Friday, November 1st. The textile maker reported $0.48 EPS for the quarter, topping the consensus estimate of $0.34 by $0.14. The firm had revenue of $344.30 million for the quarter, compared to analysts’ expectations of $336.39 million. Interface had a net margin of 6.49% and a return on equity of 19.91%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 EPS. Equities research analysts forecast that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. The ex-dividend date is Friday, November 29th. Interface’s dividend payout ratio is presently 2.80%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TILE. StockNews.com cut shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Barrington Research increased their price objective on Interface from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st.

Interface Company 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.