Pacer Advisors Inc. Takes $8.64 Million Position in Interface, Inc. (NASDAQ:TILE)

Pacer Advisors Inc. purchased a new position in Interface, Inc. (NASDAQ:TILE) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 435,238 shares of the textile maker’s stock, valued at approximately $8,635,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TILE. National Bank of Canada FI increased its holdings in Interface by 13.3% during the 4th quarter. National Bank of Canada FI now owns 3,850 shares of the textile maker’s stock worth $94,000 after purchasing an additional 451 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Interface by 49.6% in the first quarter. Versant Capital Management Inc now owns 2,458 shares of the textile maker’s stock worth $49,000 after buying an additional 815 shares during the last quarter. Bank of Montreal Can raised its holdings in Interface by 4.2% in the fourth quarter. Bank of Montreal Can now owns 21,870 shares of the textile maker’s stock valued at $533,000 after acquiring an additional 891 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Interface by 7.3% during the 1st quarter. New York State Common Retirement Fund now owns 16,184 shares of the textile maker’s stock valued at $321,000 after acquiring an additional 1,100 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Interface by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,633 shares of the textile maker’s stock worth $795,000 after purchasing an additional 1,123 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Insider Transactions at Interface

In other Interface news, VP James Poppens sold 19,474 shares of Interface stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $20.14, for a total transaction of $392,206.36. Following the sale, the vice president owned 130,142 shares of the company’s stock, valued at $2,621,059.88. The trade was a 13.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Interface in a report on Tuesday, July 22nd. Wall Street Zen raised Interface from a “hold” rating to a “buy” rating in a report on Saturday, May 10th.

Interface Price Performance

Shares of NASDAQ TILE opened at $20.90 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.76 and a quick ratio of 1.42. The firm has a market capitalization of $1.22 billion, a PE ratio of 14.41, a P/E/G ratio of 0.88 and a beta of 1.97. Interface, Inc. has a 1-year low of $14.75 and a 1-year high of $27.34. The business’s fifty day moving average price is $20.74 and its two-hundred day moving average price is $20.74.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Friday, May 2nd. The textile maker reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The business had revenue of $297.41 million for the quarter, compared to analysts’ expectations of $297.11 million. Interface had a net margin of 6.48% and a return on equity of 17.73%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. On average, research analysts expect that Interface, Inc. will post 1.37 EPS for the current year.

Interface Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.19%. Interface’s dividend payout ratio is presently 2.76%.

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.