AQR Capital Management LLC Reduces Position in Interface, Inc. (NASDAQ:TILE)

AQR Capital Management LLC decreased its stake in shares of Interface, Inc. (NASDAQ:TILEFree Report) by 37.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,564 shares of the textile maker’s stock after selling 83,374 shares during the quarter. AQR Capital Management LLC owned about 0.23% of Interface worth $2,005,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TILE. Vanguard Group Inc. increased its position in shares of Interface by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,298,736 shares of the textile maker’s stock valued at $89,125,000 after acquiring an additional 43,184 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Interface by 1.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,892,968 shares of the textile maker’s stock valued at $42,469,000 after purchasing an additional 31,224 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Interface by 10.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,691,190 shares of the textile maker’s stock worth $39,507,000 after purchasing an additional 247,350 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Interface by 0.5% in the fourth quarter. Wellington Management Group LLP now owns 2,508,961 shares of the textile maker’s stock worth $31,663,000 after purchasing an additional 12,847 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Interface by 22.3% during the second quarter. American Century Companies Inc. now owns 1,563,447 shares of the textile maker’s stock worth $22,951,000 after purchasing an additional 285,353 shares during the period. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Insider Activity at Interface

In other Interface news, Director Daniel T. Hendrix sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $16.56, for a total value of $248,400.00. Following the sale, the director now directly owns 231,147 shares of the company’s stock, valued at approximately $3,827,794.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Interface news, Director Daniel T. Hendrix sold 15,000 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $16.56, for a total transaction of $248,400.00. Following the transaction, the director now directly owns 231,147 shares of the company’s stock, valued at $3,827,794.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel T. Hendrix sold 3,403 shares of Interface stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $15.99, for a total transaction of $54,413.97. Following the completion of the sale, the director now owns 200,147 shares in the company, valued at approximately $3,200,350.53. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,358 shares of company stock worth $1,910,712 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TILE shares. Barrington Research reissued an “outperform” rating and set a $22.00 price target on shares of Interface in a research report on Friday, September 20th. StockNews.com raised shares of Interface from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 6th.

Read Our Latest Research Report on Interface

Interface Stock Up 1.4 %

Interface stock opened at $18.57 on Thursday. The business’s 50-day moving average price is $17.95 and its 200 day moving average price is $16.49. The company has a quick ratio of 1.45, a current ratio of 2.76 and a debt-to-equity ratio of 0.84. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 0.97 and a beta of 1.97. Interface, Inc. has a 52 week low of $8.26 and a 52 week high of $19.45.

Interface (NASDAQ:TILEGet Free Report) last issued its quarterly earnings data on Friday, August 2nd. The textile maker reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.12. Interface had a net margin of 5.20% and a return on equity of 18.42%. The business had revenue of $346.60 million for the quarter, compared to analysts’ expectations of $340.21 million. During the same quarter last year, the company earned $0.25 EPS. The business’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Interface, Inc. will post 1.28 earnings per share for the current year.

Interface Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend was Friday, August 30th. Interface’s dividend payout ratio (DPR) is presently 3.96%.

About Interface

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Interface (NASDAQ:TILE)

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