Cornerstone Investment Partners LLC Acquires New Shares in Interface, Inc. (NASDAQ:TILE)

Cornerstone Investment Partners LLC acquired a new stake in shares of Interface, Inc. (NASDAQ:TILE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,534 shares of the textile maker’s stock, valued at approximately $232,000.

A number of other institutional investors have also recently bought and sold shares of TILE. Foundry Partners LLC acquired a new stake in Interface during the third quarter valued at $4,308,000. Barclays PLC boosted its position in Interface by 688.5% during the third quarter. Barclays PLC now owns 256,987 shares of the textile maker’s stock valued at $4,873,000 after purchasing an additional 224,395 shares during the last quarter. Weiss Asset Management LP bought a new position in Interface during the third quarter valued at about $4,206,000. Jane Street Group LLC raised its holdings in Interface by 176.7% during the third quarter. Jane Street Group LLC now owns 158,352 shares of the textile maker’s stock valued at $3,004,000 after buying an additional 101,114 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in Interface during the third quarter valued at about $1,661,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Barrington Research restated an “outperform” rating and set a $30.00 target price on shares of Interface in a report on Tuesday, February 25th. StockNews.com lowered Interface from a “strong-buy” rating to a “buy” rating in a report on Tuesday.

Insider Transactions at Interface

In other Interface news, VP David B. Foshee sold 15,175 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $26.27, for a total transaction of $398,647.25. Following the completion of the sale, the vice president now owns 202,398 shares in the company, valued at approximately $5,316,995.46. The trade was a 6.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel T. Hendrix sold 12,500 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $23.78, for a total value of $297,250.00. Following the sale, the director now directly owns 103,647 shares in the company, valued at $2,464,725.66. The trade was a 10.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,175 shares of company stock valued at $1,471,087 in the last three months. 2.60% of the stock is owned by corporate insiders.

Interface Trading Down 5.6 %

Shares of TILE opened at $19.09 on Tuesday. Interface, Inc. has a 12-month low of $14.13 and a 12-month high of $27.34. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 0.96 and a beta of 2.10. The stock’s 50-day moving average price is $23.31 and its 200 day moving average price is $22.01.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Tuesday, February 25th. The textile maker reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $335.00 million for the quarter, compared to the consensus estimate of $340.51 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 earnings per share. As a group, research analysts predict that Interface, Inc. will post 1.37 earnings per share for the current year.

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.