Hennessy Advisors Inc. Acquires 38,900 Shares of Interface, Inc. (NASDAQ:TILE)

Hennessy Advisors Inc. grew its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 6.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 608,900 shares of the textile maker’s stock after buying an additional 38,900 shares during the quarter. Hennessy Advisors Inc. owned approximately 1.04% of Interface worth $14,827,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TILE. Quarry LP boosted its holdings in shares of Interface by 499.5% in the 3rd quarter. Quarry LP now owns 2,476 shares of the textile maker’s stock valued at $47,000 after buying an additional 2,063 shares during the last quarter. National Bank of Canada FI raised its position in Interface by 33.7% during the third quarter. National Bank of Canada FI now owns 3,399 shares of the textile maker’s stock worth $64,000 after acquiring an additional 856 shares in the last quarter. KBC Group NV lifted its stake in Interface by 70.7% in the third quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock valued at $66,000 after acquiring an additional 1,438 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Interface in the 3rd quarter valued at about $70,000. Finally, GAMMA Investing LLC increased its stake in shares of Interface by 17.5% during the 4th quarter. GAMMA Investing LLC now owns 3,880 shares of the textile maker’s stock worth $94,000 after purchasing an additional 578 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TILE shares. Barrington Research raised their target price on shares of Interface from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. StockNews.com lowered Interface from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th.

Interface Price Performance

Shares of TILE opened at $23.91 on Friday. The company’s 50-day moving average is $25.16 and its 200-day moving average is $20.44. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. The firm has a market capitalization of $1.39 billion, a PE ratio of 16.72, a PEG ratio of 0.98 and a beta of 2.10. Interface, Inc. has a fifty-two week low of $11.48 and a fifty-two week high of $27.34.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Friday, November 1st. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.14. Interface had a net margin of 6.49% and a return on equity of 19.91%. The firm had revenue of $344.30 million during the quarter, compared to the consensus estimate of $336.39 million. During the same period last year, the business posted $0.28 earnings per share. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts forecast that Interface, Inc. will post 1.37 EPS for the current year.

Interface Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend was Friday, November 29th. Interface’s dividend payout ratio is 2.80%.

Insiders Place Their Bets

In other news, CFO Bruce Andrew Hausmann sold 30,000 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $25.50, for a total transaction of $765,000.00. Following the completion of the sale, the chief financial officer now directly owns 168,475 shares in the company, valued at approximately $4,296,112.50. This represents a 15.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Stansfield Nigel sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $24.12, for a total value of $482,400.00. Following the completion of the transaction, the vice president now owns 144,355 shares in the company, valued at $3,481,842.60. The trade was a 12.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,675 shares of company stock worth $2,421,237 in the last 90 days. Company insiders own 2.60% of the company’s stock.

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.