Independent Advisor Alliance Sells 21,878 Shares of Interface, Inc. (NASDAQ:TILE)

Independent Advisor Alliance cut its position in Interface, Inc. (NASDAQ:TILE) by 32.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 45,668 shares of the textile maker’s stock after selling 21,878 shares during the period. Independent Advisor Alliance’s holdings in Interface were worth $866,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TILE. Hennessy Advisors Inc. bought a new position in Interface in the second quarter valued at about $7,430,000. American Century Companies Inc. increased its stake in shares of Interface by 22.3% in the second quarter. American Century Companies Inc. now owns 1,563,447 shares of the textile maker’s stock valued at $22,951,000 after buying an additional 285,353 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Interface by 10.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,691,190 shares of the textile maker’s stock valued at $39,507,000 after buying an additional 247,350 shares during the period. Foundry Partners LLC acquired a new stake in shares of Interface in the third quarter valued at about $4,308,000. Finally, Algert Global LLC acquired a new stake in shares of Interface in the second quarter valued at about $1,828,000. 98.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. StockNews.com cut Interface from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Barrington Research raised their target price on Interface from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st.

Insider Activity

In other news, CFO Bruce Andrew Hausmann sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $25.50, for a total value of $765,000.00. Following the transaction, the chief financial officer now owns 168,475 shares in the company, valued at $4,296,112.50. This trade represents a 15.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stansfield Nigel sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $24.12, for a total value of $482,400.00. Following the completion of the transaction, the vice president now owns 144,355 shares in the company, valued at $3,481,842.60. This represents a 12.17 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Interface Trading Down 1.1 %

Shares of Interface stock opened at $26.52 on Thursday. 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 52 week low of $9.87 and a 52 week high of $27.34. The stock has a 50 day moving average price of $21.11 and a two-hundred day moving average price of $18.02. The stock has a market capitalization of $1.55 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 1.29 and a beta of 1.97.

Interface (NASDAQ:TILE) last announced its quarterly earnings data on Friday, November 1st. The textile maker reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.14. Interface had a return on equity of 19.91% and a net margin of 6.49%. The firm had revenue of $344.30 million during the quarter, compared to analysts’ expectations of $336.39 million. During the same quarter last year, the firm posted $0.28 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities analysts anticipate that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.01 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.15%. Interface’s dividend payout ratio is presently 2.80%.

About Interface

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.