PineBridge Investments L.P. raised its stake in shares of Interface Inc. (NASDAQ:TILE) by 3.2% during the second quarter, Holdings Channel reports. The firm owned 8,303 shares of the company’s stock after buying an additional 254 shares during the period. PineBridge Investments L.P.’s holdings in Interface were worth $127,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the stock. Renaissance Technologies LLC raised its position in Interface by 23.1% in the first quarter. Renaissance Technologies LLC now owns 1,354,106 shares of the company’s stock valued at $25,105,000 after buying an additional 253,900 shares during the period. Cambiar Investors LLC acquired a new position in Interface during the second quarter valued at approximately $25,405,000. JPMorgan Chase & Co. raised its position in Interface by 188.2% in the first quarter. JPMorgan Chase & Co. now owns 324,203 shares of the company’s stock valued at $6,011,000 after buying an additional 211,699 shares during the period. Deprince Race & Zollo Inc. raised its position in 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 period. Finally, Swiss National Bank raised its position in Interface by 1.6% in the second quarter. Swiss National Bank now owns 107,400 shares of the company’s stock valued at $1,638,000 after buying an additional 1,700 shares during the period. 94.00% of the stock is currently owned by hedge funds and other institutional investors.
Interface Inc. (NASDAQ:TILE) opened at 16.57 on Wednesday. Interface Inc. has a 1-year low of $13.70 and a 1-year high of $24.44. The firm has a 50-day moving average of $17.01 and a 200 day moving average of $16.94. The firm has a market cap of $1.07 billion, a P/E ratio of 15.13 and a beta of 1.21.
Interface (NASDAQ:TILE) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.03. The company had revenue of $248.20 million for the quarter, compared to analyst estimates of $256.99 million. Interface had a net margin of 7.40% and a return on equity of 20.70%. Interface’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the business earned $0.33 EPS. On average, analysts predict that Interface Inc. will post $1.15 EPS for the current year.
TILE has been the topic of several recent analyst reports. TheStreet raised Interface from a “hold” rating to a “buy” rating in a report on Monday, June 20th. Zacks Investment Research downgraded shares of Interface from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 29th. Finally, Raymond James Financial Inc. downgraded shares of Interface from a “market perform” rating to an “underperform” rating in a research note on Friday, June 24th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Interface presently has an average rating of “Hold” and a consensus target price of $20.25.
In related news, insider Patrick C. Lynch sold 4,500 shares of Interface stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $18.00, for a total transaction of $81,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Daniel T. Hendrix sold 3,000 shares of Interface stock in a transaction on Monday, August 1st. The shares were sold at an average price of $17.83, for a total transaction of $53,490.00. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
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.