Deprince Race & Zollo Inc. raised its stake in shares of Interface Inc. (NASDAQ:TILE) by 57.6% during the second quarter, Holdings Channel reports. The fund owned 1,798,789 shares of the company’s stock after buying an additional 657,499 shares during the period. Deprince Race & Zollo Inc.’s holdings in Interface were worth $27,432,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Hancock Holding Co. raised its position in Interface by 1.3% in the first quarter. Hancock Holding Co. now owns 430,980 shares of the company’s stock valued at $7,990,000 after buying an additional 5,490 shares during the last quarter. Bogle Investment Management L P DE raised its position in Interface by 239.2% in the first quarter. Bogle Investment Management L P DE now owns 202,678 shares of the company’s stock valued at $3,757,000 after buying an additional 142,923 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Interface by 153.8% in the first quarter. Goldman Sachs Group Inc. now owns 123,607 shares of the company’s stock valued at $2,292,000 after buying an additional 74,900 shares during the last quarter. UBS Group AG raised its position in Interface by 1,118.4% in the first quarter. UBS Group AG now owns 38,111 shares of the company’s stock valued at $707,000 after buying an additional 34,983 shares during the last quarter. Finally, Third Avenue Management LLC acquired a new position in Interface during the first quarter valued at $1,543,000. Institutional investors and hedge funds own 94.00% of the company’s stock.
Interface Inc. (NASDAQ:TILE) remained flat at $16.57 during midday trading on Tuesday. The stock had a trading volume of 365,423 shares. Interface Inc. has a 52 week low of $13.70 and a 52 week high of $24.44. The stock has a market capitalization of $1.07 billion, a PE ratio of 15.13 and a beta of 1.21. The company’s 50-day moving average is $17.01 and its 200-day moving average is $16.94.
Interface (NASDAQ:TILE) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.03. The firm 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%. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 EPS. Equities research analysts expect that Interface Inc. will post $1.15 earnings per share for the current fiscal year.
Several equities analysts recently weighed in on the stock. TheStreet upgraded shares of Interface from a “hold” rating to a “buy” rating in a report on Monday, June 20th. 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. Finally, Zacks Investment Research downgraded shares of Interface from a “hold” rating to a “sell” rating in a research note on Thursday, June 16th. Two 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. The company presently has a consensus rating of “Hold” and a consensus target price of $20.25.
In other Interface news, CEO Daniel T. Hendrix sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $16.00, for a total value of $48,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Stansfield Nigel sold 7,742 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $17.72, for a total transaction of $137,188.24. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.
Interface Company Profile
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.
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