Sanctuary Advisors LLC Takes $1.66 Million Position in Interface, Inc. (NASDAQ:TILE)

Sanctuary Advisors LLC purchased a new position in shares of Interface, Inc. (NASDAQ:TILE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 87,566 shares of the textile maker’s stock, valued at approximately $1,661,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Innealta Capital LLC acquired a new position in Interface during the second quarter worth about $32,000. Quarry LP increased 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 worth $47,000 after purchasing an additional 2,063 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Interface by 33.7% during the 3rd quarter. National Bank of Canada FI now owns 3,399 shares of the textile maker’s stock worth $64,000 after purchasing an additional 856 shares in the last quarter. KBC Group NV raised its position in shares of Interface by 70.7% during the 3rd quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock worth $66,000 after purchasing an additional 1,438 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in Interface in the 3rd quarter valued at approximately $70,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Interface Stock Up 0.9 %

TILE stock opened at $24.65 on Friday. The company has a 50 day moving average price of $23.53 and a two-hundred day moving average price of $19.15. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57. The stock has a market capitalization of $1.44 billion, a P/E ratio of 17.24, a PEG ratio of 1.29 and a beta of 2.09. Interface, Inc. has a one year low of $11.48 and a one year high of $27.34.

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 business had revenue of $344.30 million during the quarter, compared to the consensus estimate of $336.39 million. During the same quarter in the previous year, the business earned $0.28 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, sell-side analysts expect that Interface, Inc. will post 1.37 EPS for the current year.

Interface Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.01 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. Interface’s dividend payout ratio is presently 2.80%.

Insider Activity at Interface

In related news, VP David B. Foshee sold 15,175 shares of Interface stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $26.27, for a total value of $398,647.25. Following the transaction, the vice president now owns 202,398 shares in the company, valued at approximately $5,316,995.46. This trade represents a 6.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel T. Hendrix sold 18,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $26.33, for a total value of $473,940.00. Following the sale, the director now directly owns 153,147 shares of the company’s stock, valued at approximately $4,032,360.51. This trade represents a 10.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,175 shares of company stock worth $2,119,987. 2.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TILE shares. StockNews.com downgraded Interface from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Barrington Research lifted their price objective on Interface from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th.

Interface Company 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.