Hennessy Advisors Inc. Has $14.83 Million Stock Position in Interface, Inc. (NASDAQ:TILE)

Hennessy Advisors Inc. raised its holdings in Interface, Inc. (NASDAQ:TILE) by 6.8% during the fourth quarter, HoldingsChannel reports. The firm owned 608,900 shares of the textile maker’s stock after acquiring an additional 38,900 shares during the quarter. Hennessy Advisors Inc.’s holdings in Interface were worth $14,827,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC lifted its position in shares of Interface by 17.5% during the 4th quarter. GAMMA Investing LLC now owns 3,880 shares of the textile maker’s stock worth $94,000 after buying an additional 578 shares during the last quarter. National Bank of Canada FI raised its stake in Interface by 33.7% during the third quarter. National Bank of Canada FI now owns 3,399 shares of the textile maker’s stock worth $64,000 after acquiring an additional 856 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Interface by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 22,103 shares of the textile maker’s stock worth $324,000 after acquiring an additional 1,368 shares during the last quarter. KBC Group NV boosted its stake 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 valued at $66,000 after purchasing an additional 1,438 shares in the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of Interface by 1.6% during the 3rd quarter. New York State Teachers Retirement System now owns 115,339 shares of the textile maker’s stock valued at $2,188,000 after purchasing an additional 1,767 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

Insider Activity

In other Interface news, CFO Bruce Andrew Hausmann sold 30,000 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $25.50, for a total transaction of $765,000.00. Following the sale, the chief financial officer now owns 168,475 shares of the company’s stock, valued at approximately $4,296,112.50. This represents a 15.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel T. Hendrix sold 12,500 shares of Interface stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $24.10, for a total value of $301,250.00. Following the completion of the transaction, the director now directly owns 116,147 shares of the company’s stock, valued at approximately $2,799,142.70. This trade represents a 9.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,675 shares of company stock valued at $2,421,237. Company insiders own 2.60% of the company’s stock.

Interface Stock Performance

Interface stock opened at $23.91 on Friday. The business has a 50 day moving average of $25.16 and a 200-day moving average of $20.44. 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, Inc. has a 1 year low of $11.48 and a 1 year high of $27.34. The company has a market capitalization of $1.39 billion, a P/E ratio of 16.72, a P/E/G ratio of 0.98 and a beta of 2.10.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.14. Interface had a net margin of 6.49% and a return on equity of 19.91%. The firm had revenue of $344.30 million during the quarter, compared to the consensus estimate of $336.39 million. During the same quarter last year, the firm earned $0.28 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities research analysts predict that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.17%. Interface’s dividend payout ratio (DPR) is presently 2.80%.

Analyst Ratings Changes

TILE has been the subject of several research reports. StockNews.com downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Barrington Research increased their price target on Interface from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th.

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.