Prudential Financial Inc. Acquires 139,150 Shares of Interface, Inc. (NASDAQ:TILE)

Prudential Financial Inc. boosted its holdings in Interface, Inc. (NASDAQ:TILE) by 25.9% in the 4th quarter, HoldingsChannel reports. The firm owned 676,030 shares of the textile maker’s stock after purchasing an additional 139,150 shares during the quarter. Prudential Financial Inc.’s holdings in Interface were worth $16,461,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Venturi Wealth Management LLC lifted its holdings in shares of Interface by 204.4% in the fourth quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker’s stock worth $27,000 after buying an additional 750 shares in the last quarter. Smartleaf Asset Management LLC increased 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 acquiring an additional 546 shares during the last quarter. Principal Securities Inc. increased its holdings in Interface by 103.1% in the 4th quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker’s stock valued at $36,000 after acquiring an additional 741 shares during the last quarter. Quarry LP lifted its stake in Interface by 499.5% in 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. Finally, US Bancorp DE boosted its holdings 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 purchasing an additional 1,488 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.

Interface Trading Up 0.7 %

Shares of TILE opened at $20.38 on Friday. Interface, Inc. has a fifty-two week low of $14.13 and a fifty-two week high of $27.34. 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 company’s fifty day moving average is $21.59 and its 200 day moving average is $22.10. The stock has a market capitalization of $1.19 billion, a PE ratio of 14.25, a P/E/G ratio of 0.96 and a beta of 2.18.

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

Interface Dividend Announcement

The business 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 0.20%. The ex-dividend date is Friday, March 28th. Interface’s payout ratio is 2.72%.

Insider Transactions at Interface

In related news, Director Daniel T. Hendrix sold 7,500 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 96,147 shares in the company, valued at $1,918,132.65. This trade represents a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 32,500 shares of company stock worth $748,125. 2.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.