Panagora Asset Management Inc. Purchases 20,243 Shares of Interface, Inc. (NASDAQ:TILE)

Panagora Asset Management Inc. grew its holdings in Interface, Inc. (NASDAQ:TILE) by 7.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 291,348 shares of the textile maker’s stock after purchasing an additional 20,243 shares during the quarter. Panagora Asset Management Inc. owned about 0.50% of Interface worth $4,277,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. First Eagle Investment Management LLC acquired a new stake in Interface in the 1st quarter valued at approximately $2,027,000. SG Americas Securities LLC grew its stake in shares of Interface by 1,195.5% in the second quarter. SG Americas Securities LLC now owns 84,647 shares of the textile maker’s stock worth $1,243,000 after acquiring an additional 78,113 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in Interface by 182.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 130,020 shares of the textile maker’s stock worth $2,187,000 after acquiring an additional 83,932 shares during the period. Access Investment Management LLC acquired a new position in Interface during the 4th quarter valued at $2,024,000. Finally, Inspire Investing LLC bought a new stake in Interface in the 1st quarter valued at $859,000. 98.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TILE shares. StockNews.com upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 6th. Barrington Research restated an “outperform” rating and set a $22.00 price target on shares of Interface in a research note on Friday, August 2nd.

Insider Buying and Selling at Interface

In other news, Director Daniel T. Hendrix sold 3,555 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $17.53, for a total transaction of $62,319.15. Following the completion of the sale, the director now owns 191,147 shares of the company’s stock, valued at $3,350,806.91. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Interface news, Director Daniel T. Hendrix sold 17,300 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $17.05, for a total value of $294,965.00. Following the completion of the transaction, the director now directly owns 213,647 shares of the company’s stock, valued at $3,642,681.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel T. Hendrix sold 3,555 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $17.53, for a total transaction of $62,319.15. Following the sale, the director now directly owns 191,147 shares in the company, valued at $3,350,806.91. The disclosure for this sale can be found here. Insiders have sold a total of 138,358 shares of company stock worth $2,279,729 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Interface Stock Performance

TILE traded up $0.02 during trading on Friday, reaching $18.88. 430,425 shares of the company’s stock were exchanged, compared to its average volume of 417,367. Interface, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $19.15. The company has a market capitalization of $1.10 billion, a P/E ratio of 18.67, a PEG ratio of 0.93 and a beta of 2.00. The company has a quick ratio of 1.30, a current ratio of 2.72 and a debt-to-equity ratio of 0.89. The business has a 50 day moving average price of $16.37 and a 200 day moving average price of $15.77.

Interface (NASDAQ:TILE) last issued its earnings results on Friday, August 2nd. The textile maker reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.12. Interface had a net margin of 4.73% and a return on equity of 16.94%. The business had revenue of $346.60 million for the quarter, compared to analyst estimates of $340.21 million. During the same period in the previous year, the business earned $0.25 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, analysts predict that Interface, Inc. will post 1.18 earnings per share for the current fiscal year.

Interface Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.21%. The ex-dividend date is Friday, August 30th. Interface’s dividend payout ratio is currently 3.96%.

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.