Essex Investment Management Co. LLC Lowers Stock Position in Interface, Inc. (NASDAQ:TILE)

Essex Investment Management Co. LLC cut its stake in shares of Interface, Inc. (NASDAQ:TILE) by 12.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 143,676 shares of the textile maker’s stock after selling 20,281 shares during the period. Essex Investment Management Co. LLC’s holdings in Interface were worth $3,499,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Venturi Wealth Management LLC grew its stake in shares of Interface by 204.4% during the 4th quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker’s stock valued at $27,000 after buying an additional 750 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Interface by 78.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker’s stock valued at $30,000 after buying an additional 546 shares during the period. Principal Securities Inc. grew its stake in shares of Interface by 103.1% during the 4th quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker’s stock valued at $36,000 after buying an additional 741 shares during the period. US Bancorp DE grew its stake in shares of Interface by 163.5% during the 4th quarter. US Bancorp DE now owns 2,398 shares of the textile maker’s stock valued at $58,000 after buying an additional 1,488 shares during the period. Finally, Quarry LP grew its stake in shares of Interface by 499.5% during the 3rd quarter. Quarry LP now owns 2,476 shares of the textile maker’s stock valued at $47,000 after buying an additional 2,063 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

Interface Stock Down 0.4 %

Shares of Interface stock opened at $18.26 on Friday. The company has a fifty day moving average price of $22.78 and a 200 day moving average price of $22.01. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. Interface, Inc. has a twelve month low of $14.13 and a twelve month high of $27.34. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 0.96 and a beta of 2.18.

Interface (NASDAQ:TILE) last announced its quarterly earnings results on Tuesday, February 25th. The textile maker reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The firm had revenue of $335.00 million during the quarter, compared to analysts’ expectations of $340.51 million. Interface had a net margin of 6.49% and a return on equity of 19.91%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 EPS. Equities research analysts forecast that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TILE has been the subject of a number of research reports. StockNews.com cut shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Barrington Research reaffirmed an “outperform” rating and set a $30.00 price target on shares of Interface in a research report on Tuesday, February 25th.

Insider Buying and Selling at Interface

In other Interface news, Director Daniel T. Hendrix sold 12,500 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $23.78, for a total value of $297,250.00. Following the completion of the transaction, the director now directly owns 103,647 shares of the company’s stock, valued at $2,464,725.66. This represents a 10.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 32,500 shares of company stock valued at $748,125 in the last ninety days. Insiders own 2.60% of the company’s stock.

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.