Legato Capital Management LLC Sells 12,728 Shares of Interface, Inc. (NASDAQ:TILE)

Legato Capital Management LLC trimmed its position in Interface, Inc. (NASDAQ:TILE) by 23.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,720 shares of the textile maker’s stock after selling 12,728 shares during the quarter. Legato Capital Management LLC’s holdings in Interface were worth $1,040,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TILE. State Street Corp lifted its stake in 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 position in shares of Interface by 0.9% in 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 during the period. Hennessy Advisors Inc. lifted its position in shares of 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 boosted its stake in shares of Interface by 0.8% during the third quarter. Segall Bryant & Hamill LLC now owns 325,250 shares of the textile maker’s stock valued at $6,170,000 after purchasing an additional 2,423 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Interface by 5.8% during the third quarter. Principal Financial Group Inc. now owns 304,050 shares of the textile maker’s stock valued at $5,768,000 after buying an additional 16,624 shares during the period. Institutional investors own 98.34% of the company’s stock.

Insiders Place Their Bets

In other Interface news, Director Daniel T. Hendrix sold 12,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $23.78, for a total value of $297,250.00. Following the completion of the sale, the director now owns 103,647 shares of the company’s stock, valued at approximately $2,464,725.66. This trade represents a 10.76 % 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, CFO Bruce Andrew Hausmann sold 30,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $25.50, for a total transaction of $765,000.00. Following the transaction, the chief financial officer now owns 168,475 shares in the company, valued at approximately $4,296,112.50. This trade represents a 15.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,175 shares of company stock valued at $2,236,087. 2.60% of the stock is currently owned by insiders.

Interface Trading Down 2.4 %

NASDAQ TILE opened at $22.20 on Thursday. Interface, Inc. has a 52 week low of $12.67 and a 52 week high of $27.34. The company has a 50 day moving average price of $24.52 and a 200 day moving average price of $21.56. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. The firm has a market cap of $1.29 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.01 and a beta of 2.10.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TILE. Barrington Research restated an “outperform” rating and set a $30.00 target price on shares of Interface in a report on Tuesday, January 28th. StockNews.com cut Interface from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th.

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.