Point72 Asia Singapore Pte. Ltd. Buys 3,770 Shares of Interface, Inc. (NASDAQ:TILE)

Point72 Asia Singapore Pte. Ltd. increased its stake in Interface, Inc. (NASDAQ:TILE) by 174.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,934 shares of the textile maker’s stock after purchasing an additional 3,770 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Interface were worth $113,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Interface by 1.1% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,892,968 shares of the textile maker’s stock worth $42,469,000 after buying an additional 31,224 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Interface by 10.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,691,190 shares of the textile maker’s stock worth $39,507,000 after purchasing an additional 247,350 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Interface by 22.3% during the 2nd quarter. American Century Companies Inc. now owns 1,563,447 shares of the textile maker’s stock valued at $22,951,000 after purchasing an additional 285,353 shares during the period. Meros Investment Management LP increased its position in shares of Interface by 1.5% during the 2nd quarter. Meros Investment Management LP now owns 698,305 shares of the textile maker’s stock valued at $10,251,000 after purchasing an additional 10,616 shares during the last quarter. Finally, Hennessy Advisors Inc. bought a new position in shares of Interface in the 2nd quarter worth approximately $7,430,000. Institutional investors own 98.34% of the company’s stock.

Insider Buying and Selling at Interface

In related news, CFO Bruce Andrew Hausmann sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $25.50, for a total transaction of $765,000.00. Following the completion of the transaction, the chief financial officer now directly owns 168,475 shares of the company’s stock, valued at approximately $4,296,112.50. This trade represents a 15.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Stansfield Nigel sold 20,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $24.12, for a total transaction of $482,400.00. Following the completion of the sale, the vice president now owns 144,355 shares in the company, valued at approximately $3,481,842.60. The trade was a 12.17 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Interface Stock Down 1.5 %

TILE stock opened at $26.04 on Friday. The business’s 50-day moving average price is $22.05 and its 200-day moving average price is $18.44. The stock has a market cap of $1.52 billion, a P/E ratio of 18.21, a PEG ratio of 1.28 and a beta of 2.09. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. Interface, Inc. has a twelve month low of $10.71 and a twelve month high of $27.34.

Interface (NASDAQ:TILE) last issued its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.14. The business had revenue of $344.30 million for the quarter, compared to the consensus estimate of $336.39 million. Interface had a net margin of 6.49% and a return on equity of 19.91%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 earnings per share. On average, equities research analysts forecast that Interface, Inc. will post 1.37 EPS for the current year.

Interface Dividend Announcement

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

Analyst Upgrades and Downgrades

TILE has been the subject of several recent research reports. Barrington Research boosted their target price on shares of Interface from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. StockNews.com downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th.

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.