Skandinaviska Enskilda Banken AB publ Sells 22,916 Shares of Interface, Inc. (NASDAQ:TILE)

Skandinaviska Enskilda Banken AB publ reduced its stake in Interface, Inc. (NASDAQ:TILE) by 21.3% in the 4th quarter, HoldingsChannel reports. The firm owned 84,884 shares of the textile maker’s stock after selling 22,916 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Interface were worth $2,081,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TILE. Venturi Wealth Management LLC increased its stake in Interface by 204.4% in the fourth quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 750 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Interface by 78.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker’s stock worth $30,000 after acquiring an additional 546 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of Interface by 103.1% in the 4th quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker’s stock worth $36,000 after acquiring an additional 741 shares during the last quarter. Quarry LP lifted its position in 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 acquiring an additional 2,063 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Interface by 163.5% during the 4th quarter. US Bancorp DE now owns 2,398 shares of the textile maker’s stock valued at $58,000 after purchasing an additional 1,488 shares during the last quarter. 98.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on TILE shares. Barrington Research reissued an “outperform” rating and issued a $30.00 price objective on shares of Interface in a research note on Tuesday, February 25th. StockNews.com lowered Interface from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th.

Interface Stock Up 2.3 %

TILE opened at $19.22 on Monday. Interface, Inc. has a fifty-two week low of $14.13 and a fifty-two week high of $27.34. The firm has a market capitalization of $1.12 billion, a P/E ratio of 13.44, a PEG ratio of 0.96 and a beta of 2.18. The company’s 50-day moving average is $22.24 and its 200 day moving average is $22.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38.

Interface (NASDAQ:TILE) last posted its earnings results on Tuesday, February 25th. The textile maker reported $0.34 EPS for the quarter, topping the consensus estimate of $0.29 by $0.05. The firm had revenue of $335.00 million for the quarter, compared to analysts’ expectations of $340.51 million. Interface had a net margin of 6.49% and a return on equity of 19.91%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 EPS. Research analysts expect that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.01 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. Interface’s dividend payout ratio (DPR) is presently 2.72%.

Insider Activity

In related news, Director Daniel T. Hendrix sold 12,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $24.10, for a total value of $301,250.00. Following the transaction, the director now directly owns 116,147 shares of the company’s stock, valued at approximately $2,799,142.70. The trade was a 9.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 32,500 shares of company stock valued at $748,125 in the last ninety days. 2.60% of the stock is currently owned by insiders.

Interface 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.