Moran Wealth Management LLC Invests $272,000 in Interface, Inc. (NASDAQ:TILE)

Moran Wealth Management LLC purchased a new stake in shares of Interface, Inc. (NASDAQ:TILE) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 11,161 shares of the textile maker’s stock, valued at approximately $272,000.

Other hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its holdings in Interface by 78.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 546 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Interface by 17.5% in the fourth quarter. GAMMA Investing LLC now owns 3,880 shares of the textile maker’s stock valued at $94,000 after acquiring an additional 578 shares during the last quarter. Principal Securities Inc. grew its position in Interface by 103.1% in the fourth quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker’s stock worth $36,000 after acquiring an additional 741 shares during the period. Venturi Wealth Management LLC increased its stake in Interface by 204.4% during the fourth quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker’s stock worth $27,000 after acquiring an additional 750 shares during the last quarter. Finally, National Bank of Canada FI increased 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 during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Insider Activity at Interface

In other Interface news, Director Daniel T. Hendrix sold 12,500 shares of the firm’s stock in a transaction that occurred on 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 owns 103,647 shares of the company’s stock, valued at $2,464,725.66. This trade represents a 10.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders sold 32,500 shares of company stock worth $748,125. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TILE shares. Barrington Research reiterated an “outperform” rating and set a $30.00 price target on shares of Interface in a report on Tuesday, February 25th. StockNews.com lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th.

Interface Stock Down 0.4 %

Interface stock opened at $18.81 on Thursday. The company has a market capitalization of $1.10 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 0.96 and a beta of 2.18. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57. Interface, Inc. has a fifty-two week low of $14.13 and a fifty-two week high of $27.34. The firm has a 50 day moving average price of $22.44 and a 200 day moving average price of $22.02.

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

Interface Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.21%. The ex-dividend date is Friday, March 28th. Interface’s payout ratio is 2.72%.

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.