Matthew 25 Management Corp Sells 36,100 Shares of Interface, Inc. (NASDAQ:TILE)

Matthew 25 Management Corp reduced its stake in shares of Interface, Inc. (NASDAQ:TILE) by 4.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 825,000 shares of the textile maker’s stock after selling 36,100 shares during the quarter. Interface comprises about 4.2% of Matthew 25 Management Corp’s portfolio, making the stock its 13th biggest position. Matthew 25 Management Corp owned 1.42% of Interface worth $12,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Interface by 0.8% in the first 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 last quarter. Wellington Management Group LLP boosted its stake in Interface by 0.5% in the fourth quarter. Wellington Management Group LLP now owns 2,508,961 shares of the textile maker’s stock valued at $31,663,000 after acquiring an additional 12,847 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Interface by 7.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,275,194 shares of the textile maker’s stock valued at $28,714,000 after acquiring an additional 165,536 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Interface by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,118,347 shares of the textile maker’s stock valued at $14,114,000 after acquiring an additional 36,088 shares during the last quarter. Finally, Hennessy Advisors Inc. bought a new position in shares of Interface during the second quarter worth $7,430,000. 98.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TILE. Barrington Research reissued an “outperform” rating and set a $22.00 price target on shares of Interface in a research report on Friday, August 2nd. StockNews.com upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 6th.

Interface Stock Down 2.8 %

Shares of NASDAQ:TILE traded down $0.51 during midday trading on Friday, reaching $17.80. 269,046 shares of the company were exchanged, compared to its average volume of 417,007. Interface, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $19.15. 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 stock has a fifty day simple moving average of $16.82 and a two-hundred day simple moving average of $15.97. The firm has a market cap of $1.04 billion, a PE ratio of 17.62, a P/E/G ratio of 0.98 and a beta of 2.00.

Interface (NASDAQ:TILE) 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 analyst estimates of $340.21 million. During the same period last year, the business posted $0.25 earnings per share. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts forecast that Interface, Inc. will post 1.28 earnings per share for the current year.

Interface Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a $0.01 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.04 annualized dividend and a yield of 0.22%. Interface’s payout ratio is currently 3.96%.

Insider Buying and Selling at Interface

In other Interface news, CFO Bruce Andrew Hausmann sold 55,000 shares of Interface stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $17.00, for a total value of $935,000.00. Following the sale, the chief financial officer now directly owns 198,475 shares in the company, valued at approximately $3,374,075. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Daniel T. Hendrix sold 10,347 shares of Interface stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $14.43, for a total value of $149,307.21. Following the completion of the transaction, the director now owns 248,300 shares of the company’s stock, valued at approximately $3,582,969. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Bruce Andrew Hausmann sold 55,000 shares of Interface stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $17.00, for a total transaction of $935,000.00. Following the sale, the chief financial officer now directly owns 198,475 shares of the company’s stock, valued at approximately $3,374,075. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,858 shares of company stock worth $2,091,604. Insiders own 2.60% of the company’s stock.

About Interface

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.