Pzena Investment Management LLC Reduces Stock Position in Interface, Inc. (NASDAQ:TILE)

Pzena Investment Management LLC trimmed its holdings in Interface, Inc. (NASDAQ:TILE) by 96.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,049 shares of the textile maker’s stock after selling 306,250 shares during the period. Pzena Investment Management LLC’s holdings in Interface were worth $269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. State Street Corp boosted its holdings in shares of Interface by 0.6% in the third quarter. State Street Corp now owns 2,232,327 shares of the textile maker’s stock worth $42,347,000 after acquiring an additional 13,686 shares during the period. Geode Capital Management LLC lifted its holdings in Interface by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,371,976 shares of the textile maker’s stock worth $26,031,000 after purchasing an additional 11,931 shares in the last quarter. Hennessy Advisors Inc. boosted its stake in Interface by 6.8% in the 4th quarter. Hennessy Advisors Inc. now owns 608,900 shares of the textile maker’s stock worth $14,827,000 after purchasing an additional 38,900 shares during the period. Segall Bryant & Hamill LLC grew its holdings in Interface by 0.8% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 325,250 shares of the textile maker’s stock valued at $6,170,000 after buying an additional 2,423 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Interface by 3.8% during the fourth quarter. Principal Financial Group Inc. now owns 315,596 shares of the textile maker’s stock valued at $7,685,000 after buying an additional 11,546 shares during the period. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, Director Daniel T. Hendrix sold 7,500 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $19.95, for a total value of $149,625.00. Following the completion of the transaction, the director now directly owns 96,147 shares in the company, valued at approximately $1,918,132.65. This represents a 7.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 32,500 shares of company stock valued at $748,125 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Interface Price Performance

NASDAQ:TILE opened at $18.88 on Wednesday. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 13.20, a P/E/G 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. The stock has a fifty day moving average of $22.55 and a 200 day moving average of $22.05. Interface, Inc. has a 52-week low of $14.13 and a 52-week high of $27.34.

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

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.