First Trust Advisors LP acquired a new stake in Interface Inc. (NASDAQ:TILE) during the second quarter, Holdings Channel reports. The institutional investor acquired 49,995 shares of the company’s stock, valued at approximately $762,000. First Trust Advisors LP owned about 0.08% of Interface at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Cambiar Investors LLC acquired a new position in shares of Interface during the second quarter valued at about $25,405,000. Emerald Acquisition Ltd. acquired a new position in shares of Interface during the second quarter valued at about $16,868,000. Wedge Capital Management L L P NC acquired a new position in shares of Interface during the second quarter valued at about $11,073,000. Deprince Race & Zollo Inc. increased its position in shares of Interface by 57.6% in the second quarter. Deprince Race & Zollo Inc. now owns 1,798,789 shares of the company’s stock valued at $27,432,000 after buying an additional 657,499 shares during the last quarter. Finally, Kennedy Capital Management Inc. acquired a new position in shares of Interface during the first quarter valued at about $11,898,000. 94.00% of the stock is currently owned by institutional investors.
Interface Inc. (NASDAQ:TILE) traded down 0.30% during mid-day trading on Friday, hitting $16.85. 617,847 shares of the stock traded hands. Interface Inc. has a 1-year low of $13.70 and a 1-year high of $24.44. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 15.39 and a beta of 1.21. The stock has a 50-day moving average of $17.01 and a 200 day moving average of $16.93.
Interface (NASDAQ:TILE) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03. The firm had revenue of $248.20 million for the quarter, compared to analysts’ expectations of $256.99 million. Interface had a net margin of 7.40% and a return on equity of 20.70%. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 earnings per share. On average, equities analysts expect that Interface Inc. will post $1.15 EPS for the current year.
Several research analysts have issued reports on TILE shares. Zacks Investment Research raised shares of Interface from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Wednesday, August 3rd. Raymond James Financial Inc. cut shares of Interface from a “market perform” rating to an “underperform” rating in a research note on Friday, June 24th. Finally, TheStreet upgraded shares of Interface from a “hold” rating to a “buy” rating in a research note on Monday, June 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $20.25.
In other Interface news, VP Stansfield Nigel sold 7,742 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $17.72, for a total transaction of $137,188.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Daniel T. Hendrix sold 3,000 shares of the stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $16.00, for a total transaction of $48,000.00. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.
Interface Inc is engaged in design, production and sales of modular carpet, also known as carpet tile across the world. The Company markets its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company distributes its product through approximately two primary channels, including direct sales to end users and indirect sales through independent contractors or distributors.