Renaissance Technologies LLC Acquires 238,515 Shares of Interface, Inc. $TILE

Renaissance Technologies LLC grew its holdings in Interface, Inc. (NASDAQ:TILE) by 107.6% during the first quarter, Holdings Channel.com reports. The firm owned 460,156 shares of the textile maker’s stock after acquiring an additional 238,515 shares during the period. Renaissance Technologies LLC’s holdings in Interface were worth $11,467,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TILE. ProShare Advisors LLC increased its stake in shares of Interface by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 11,282 shares of the textile maker’s stock valued at $315,000 after buying an additional 349 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Interface by 30.8% in the fourth quarter. Larson Financial Group LLC now owns 1,538 shares of the textile maker’s stock valued at $43,000 after buying an additional 362 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in Interface by 0.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 58,483 shares of the textile maker’s stock worth $1,560,000 after buying an additional 403 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Interface by 1.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 30,695 shares of the textile maker’s stock worth $857,000 after buying an additional 452 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Interface by 2.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,953 shares of the textile maker’s stock worth $722,000 after acquiring an additional 495 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

Interface Trading Up 1.4%

Shares of TILE opened at $34.26 on Friday. The stock’s fifty day simple moving average is $32.46 and its 200-day simple moving average is $30.28. The firm has a market capitalization of $1.99 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 1.08 and a beta of 1.88. Interface, Inc. has a 12-month low of $20.37 and a 12-month high of $36.66. The company has a quick ratio of 1.16, a current ratio of 2.43 and a debt-to-equity ratio of 0.30.

Interface (NASDAQ:TILE) last announced its quarterly earnings data on Friday, May 8th. The textile maker reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.08. The firm had revenue of $331.04 million during the quarter, compared to analyst estimates of $320.38 million. Interface had a return on equity of 20.09% and a net margin of 8.92%.The company’s revenue was up 11.3% on a year-over-year basis. During the same period last year, the company earned $0.25 earnings per share. As a group, research analysts predict that Interface, Inc. will post 2.11 earnings per share for the current year.

Interface Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were given a dividend of $0.03 per share. The ex-dividend date was Friday, June 5th. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. Interface’s payout ratio is currently 5.61%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TILE shares. Barrington Research restated an “outperform” rating and issued a $36.00 price objective on shares of Interface in a research report on Friday, April 17th. Wall Street Zen upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Zacks Research cut shares of Interface from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of Interface in a report on Wednesday, June 17th. Finally, Benchmark started coverage on shares of Interface in a report on Tuesday, May 19th. They issued a “buy” rating and a $36.00 price target for the company. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Insider Activity at Interface

In related news, VP David B. Foshee sold 44,393 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $29.00, for a total value of $1,287,397.00. Following the transaction, the vice president directly owned 175,014 shares in the company, valued at $5,075,406. This represents a 20.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Bruce Andrew Hausmann sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.66, for a total transaction of $1,483,000.00. Following the completion of the transaction, the chief financial officer directly owned 119,256 shares in the company, valued at approximately $3,537,132.96. The trade was a 29.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.47% of the stock is owned by insiders.

Interface Profile

Interface, Inc (NASDAQ: TILE) is a global manufacturer of modular flooring and resilient commercial flooring solutions. The company specializes in carpet tiles, luxury vinyl tile (LVT) and other environmentally responsible hard-surface products designed for use in corporate, education, healthcare, hospitality and retail environments. Interface’s portfolio also includes broadloom carpet, rubber flooring and acoustic underlays, all engineered to meet performance, design and sustainability requirements in modern interior spaces.

Founded in 1973 by Ray C.