Jacobs Levy Equity Management Inc. Raises Position in Interface, Inc. (NASDAQ:TILE)

Jacobs Levy Equity Management Inc. lifted its stake in Interface, Inc. (NASDAQ:TILE) by 57.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 336,736 shares of the textile maker’s stock after purchasing an additional 122,249 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Interface were worth $5,664,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. ProShare Advisors LLC lifted its stake in Interface by 7.4% in the first quarter. ProShare Advisors LLC now owns 11,576 shares of the textile maker’s stock worth $195,000 after purchasing an additional 794 shares during the last quarter. First Hawaiian Bank lifted its stake in shares of Interface by 3.8% during the 1st quarter. First Hawaiian Bank now owns 36,890 shares of the textile maker’s stock worth $620,000 after acquiring an additional 1,353 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Interface by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,431 shares of the textile maker’s stock valued at $916,000 after acquiring an additional 2,073 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in Interface by 6.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 35,129 shares of the textile maker’s stock valued at $591,000 after acquiring an additional 2,127 shares during the period. Finally, GAMMA Investing LLC grew its position in Interface by 131.1% in the 1st quarter. GAMMA Investing LLC now owns 3,943 shares of the textile maker’s stock valued at $66,000 after acquiring an additional 2,237 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

Insider Activity

In other news, VP Stansfield Nigel sold 19,990 shares of Interface stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $16.24, for a total value of $324,637.60. Following the transaction, the vice president now directly owns 181,855 shares in the company, valued at approximately $2,953,325.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Interface news, VP Stansfield Nigel sold 19,990 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $16.24, for a total transaction of $324,637.60. Following the completion of the sale, the vice president now directly owns 181,855 shares of the company’s stock, valued at $2,953,325.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel T. Hendrix sold 2,153 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $14.67, for a total transaction of $31,584.51. Following the completion of the sale, the director now owns 246,147 shares in the company, valued at $3,610,976.49. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,890 shares of company stock worth $1,264,933. Corporate insiders own 2.60% of the company’s stock.

Interface Trading Up 1.0 %

TILE traded up $0.17 during trading on Tuesday, hitting $17.25. 499,390 shares of the stock were exchanged, compared to its average volume of 405,659. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.30 and a current ratio of 2.72. The firm has a 50 day simple moving average of $15.40 and a 200 day simple moving average of $15.01. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 16.91, a P/E/G ratio of 0.98 and a beta of 2.01. Interface, Inc. has a 1 year low of $8.26 and a 1 year high of $18.47.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Friday, May 3rd. The textile maker reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.12. Interface had a return on equity of 16.94% and a net margin of 4.73%. The firm had revenue of $289.70 million during the quarter, compared to the consensus estimate of $284.76 million. During the same period in the previous year, the company posted $0.07 earnings per share. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, equities analysts expect that Interface, Inc. will post 1.18 EPS for the current year.

Interface Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a $0.01 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.23%. Interface’s payout ratio is presently 3.96%.

Analyst Ratings Changes

Several research firms have recently weighed in on TILE. StockNews.com downgraded Interface from a “strong-buy” rating to a “buy” rating in a research report on Monday. Barrington Research reiterated an “outperform” rating and set a $22.00 price objective on shares of Interface in a report on Monday, June 17th.

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.