Fifth Third Bancorp Grows Stake in Interface, Inc. $TILE

Fifth Third Bancorp raised its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 27,312.6% during the first quarter, HoldingsChannel.com reports. The firm owned 47,972 shares of the textile maker’s stock after buying an additional 47,797 shares during the period. Fifth Third Bancorp’s holdings in Interface were worth $1,195,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TILE. Fuller & Thaler Asset Management Inc. grew its stake in Interface by 133.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker’s stock worth $56,071,000 after buying an additional 1,149,733 shares during the last quarter. UBS Group AG boosted its holdings in Interface by 413.8% in the fourth quarter. UBS Group AG now owns 499,035 shares of the textile maker’s stock worth $13,933,000 after acquiring an additional 401,912 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Interface by 273.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 386,828 shares of the textile maker’s stock worth $10,800,000 after acquiring an additional 283,152 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Interface by 2,333.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 280,986 shares of the textile maker’s stock worth $7,845,000 after acquiring an additional 269,439 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Interface by 108.5% during the second quarter. Cubist Systematic Strategies LLC now owns 300,203 shares of the textile maker’s stock valued at $6,283,000 after acquiring an additional 156,220 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Insider Activity

In other Interface news, CFO Bruce Andrew Hausmann sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.66, for a total value of $1,483,000.00. Following the completion of the transaction, the chief financial officer owned 119,256 shares of the company’s stock, valued at $3,537,132.96. This trade represents a 29.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP David B. Foshee sold 44,393 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $29.00, for a total value of $1,287,397.00. Following the completion of the sale, the vice president owned 175,014 shares in the company, valued at approximately $5,075,406. The trade was a 20.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.47% of the stock is currently owned by corporate insiders.

Interface Stock Up 1.0%

TILE stock opened at $32.98 on Friday. The company has a current ratio of 2.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average of $31.92 and a two-hundred day moving average of $30.12. Interface, Inc. has a 12 month low of $20.37 and a 12 month high of $36.66. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.03 and a beta of 1.88.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Friday, May 8th. The textile maker reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.08. The company had revenue of $331.04 million during the quarter, compared to analyst estimates of $320.38 million. Interface had a return on equity of 20.09% and a net margin of 8.92%.The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 earnings per share. As a group, analysts forecast that Interface, Inc. will post 2.11 earnings per share for the current fiscal year.

Interface Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, June 5th. Interface’s dividend payout ratio is currently 5.61%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Interface in a research note on Wednesday, June 17th. Barrington Research reiterated an “outperform” rating and set a $36.00 price target on shares of Interface in a research note on Friday, April 17th. Wall Street Zen raised Interface from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Benchmark assumed coverage on Interface in a research note on Tuesday, May 19th. They issued a “buy” rating and a $36.00 price objective for the company. Finally, Zacks Research raised Interface from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $36.00.

Interface Profile

Interface, Inc (NASDAQ: TILE) is a global manufacturer of modular flooring and resilient commercial flooring solutions. The company specializes in carpet tiles, luxury vinyl tile (LVT) and other environmentally responsible hard-surface products designed for use in corporate, education, healthcare, hospitality and retail environments. Interface’s portfolio also includes broadloom carpet, rubber flooring and acoustic underlays, all engineered to meet performance, design and sustainability requirements in modern interior spaces.

Founded in 1973 by Ray C.