Piermont Capital Management Llc increased its stake in Interface Inc. (TILE) by 351.07% based on its latest 2016Q3 regulatory filing with the SEC. Piermont Capital Management Llc bought 198,360 shares as the company’s stock rose 8.24% with the market. The institutional investor held 254,862 shares of the consumer durables company at the end of 2016Q3, valued at $4.25 million, up from 56,502 at the end of the previous reported quarter. Piermont Capital Management Llc who had been investing in Interface Inc. for a number of months, seems to be bullish on the $1.21B market cap company. The stock is up 0.82% or $0.15 after the positive news, hitting $18.55 per share. About 162,864 shares traded hands. Interface, Inc. (NASDAQ:TILE) has risen 7.23% since June 7, 2016 and is uptrending. It has underperformed by 0.20% the S&P500.
Piermont Capital Management Llc is a Missouri-based institutional investor with more than $208.82 million AUM in January, 2015. Taken from Piermont Capital Management latest Adv, the fund reported to have 8 full and part-time employees. Among which 6 performing investment advisory and research functions. The institutional investor had between 1-10 clients.
Insitutional Activity: The institutional sentiment increased to 1.53 in 2016 Q3. Its up 0.54, from 0.99 in 2016Q2. The ratio increased, as 13 funds sold all TILE shares owned while 53 reduced positions. 34 funds bought stakes while 67 increased positions. They now own 56.88 million shares or 2.38% less from 58.27 million shares in 2016Q2. The Indiana-based Old Natl Bankshares In has invested 0.01% in Interface, Inc. (NASDAQ:TILE). D E Shaw has invested 0.02% of its portfolio in Interface, Inc. (NASDAQ:TILE). Thrivent For Lutherans owns 64,270 shares or 0% of their US portfolio. Gsa Capital Prns Limited Liability Partnership accumulated 0.07% or 77,483 shares. Bnp Paribas Arbitrage last reported 0% of its portfolio in the stock. Da Davidson And Co accumulated 1,792 shares or 0% of the stock. Moreover, Scopus Asset Mngmt Lp has 0.03% invested in Interface, Inc. (NASDAQ:TILE) for 126,989 shares. First Mercantile Trust last reported 0.02% of its portfolio in the stock. Great West Life Assurance Company Can has 0% invested in the company for 85,613 shares. Quantbot Tech Limited Partnership has invested 0.01% of its portfolio in Interface, Inc. (NASDAQ:TILE). Gemmer Asset Ltd Liability has 0% invested in the company for 178 shares. Dupont Capital Management has invested 0.05% of its portfolio in Interface, Inc. (NASDAQ:TILE). Aqr Cap Limited Liability Corporation last reported 250,824 shares in the company. Walleye Trading Limited Com last reported 0% of its portfolio in the stock. The Switzerland-based Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0% in Interface, Inc. (NASDAQ:TILE).
Insider Transactions: Since July 12, 2016, the stock had 0 insider purchases, and 14 insider sales for $1.47 million net activity. HENDRIX DANIEL T also sold $49,200 worth of Interface, Inc. (NASDAQ:TILE) on Monday, October 3. $137,188 worth of shares were sold by Nigel Stansfield on Monday, August 1. LYNCH PATRICK C sold $81,000 worth of stock. Shares for $306,720 were sold by Boogaard Robert. $392,845 worth of Interface, Inc. (NASDAQ:TILE) shares were sold by WILLOCH RAYMOND S.
More notable recent Interface, Inc. (NASDAQ:TILE) news were published by: Prnewswire.com which released: “Interface Announces Restructuring Plan” on January 05, 2017, also Prnewswire.com with their article: “Interface Reports Third Quarter 2016 Results” published on October 26, 2016, Fool.com published: “Why Interface Inc. Stock Dropped Today” on June 24, 2016. More interesting news about Interface, Inc. (NASDAQ:TILE) were released by: Prnewswire.com and their article: “Interface Announces New GreenCircle Certified Environmental Facts Labels” published on October 03, 2016 as well as Prnewswire.com‘s news article titled: “Interface to Relocate Global Headquarters to Midtown Atlanta” with publication date: September 21, 2016.
According to Zacks Investment Research, “Interface, Inc. is a global manufacturer, marketer, installer and servicer of products for the commercial and institutional interiors market. They are a leader in the modular carpet segment, which includes both carpet tile and two-meter roll goods. They provide specialized carpet replacement, installation and maintenance services through their Re:Source Americas service network. Their specialty products operations produce raised/access flooring systems, antimicrobial additives, adhesives and various other specialty chemical compounds and products.”
Interface, Inc. (NASDAQ:TILE) Ratings Coverage
Out of 5 analysts covering Interface (NASDAQ:TILE), 1 rate it a “Buy”, 2 “Sell”, while 2 “Hold”. This means 20% are positive. Interface has been the topic of 8 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Stifel Nicolaus downgraded Interface, Inc. (NASDAQ:TILE) on Wednesday, April 27 to “Hold” rating. On Friday, December 16 the stock rating was initiated by Macquarie Research with “Neutral”. The firm earned “Underweight” rating on Thursday, April 7 by Barclays Capital. The rating was initiated by Seaport Global Securities with “Buy” on Friday, November 4. The rating was downgraded by Raymond James to “Underperform” on Friday, June 24. The company was upgraded on Friday, October 30 by Stifel Nicolaus. The rating was maintained by Barclays Capital with “Overweight” on Friday, July 31. The rating was downgraded by Barclays Capital on Thursday, February 25 to “Equal-Weight”.
TILE Company Profile
Interface Inc., incorporated on August 28, 1981, is engaged in design, production and sales of modular carpet, also known as carpet tile across the world. The Firm markets its modular carpets in over 110 countries under the brand names Interface and FLOR. The Firm distributes its product through approximately two primary channels, including direct sales to end users and indirect sales through independent contractors or distributors. The Firm makes carpet at over two locations in the United States and at facilities in the Netherlands, the United Kingdom, Thailand, China and Australia. The Company’s principal geographic markets are the United States, Europe and Asia-Pacific.
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