Y Intercept Hong Kong Ltd Makes New $276,000 Investment in Interface, Inc. $TILE

Y Intercept Hong Kong Ltd purchased a new stake in Interface, Inc. (NASDAQ:TILE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,164 shares of the textile maker’s stock, valued at approximately $276,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. IFP Advisors Inc grew its stake in Interface by 2,695.2% in the 2nd quarter. IFP Advisors Inc now owns 1,174 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 1,132 shares during the last quarter. Virtus Advisers LLC acquired a new stake in shares of Interface in the first quarter valued at approximately $57,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Interface during the 2nd quarter worth approximately $87,000. RHS Financial LLC acquired a new position in shares of Interface during the 2nd quarter worth approximately $212,000. Finally, Moran Wealth Management LLC lifted its stake in Interface by 11.0% in the 2nd quarter. Moran Wealth Management LLC now owns 11,426 shares of the textile maker’s stock valued at $239,000 after buying an additional 1,131 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Insiders Place Their Bets

In other news, VP James Poppens sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $26.14, for a total transaction of $130,700.00. Following the completion of the sale, the vice president owned 124,616 shares in the company, valued at approximately $3,257,462.24. The trade was a 3.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Bruce Andrew Hausmann sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $26.95, for a total transaction of $673,750.00. Following the sale, the chief financial officer directly owned 145,403 shares of the company’s stock, valued at approximately $3,918,610.85. This trade represents a 14.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TILE. Wall Street Zen raised Interface from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings raised Interface from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Barrington Research reissued an “outperform” rating and issued a $32.00 target price on shares of Interface in a research note on Friday, October 31st. Finally, Zacks Research raised shares of Interface from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, Interface currently has a consensus rating of “Buy” and an average target price of $32.00.

Interface Stock Performance

NASDAQ TILE opened at $25.76 on Friday. The business’s 50-day moving average price is $27.62 and its 200 day moving average price is $23.82. The company has a current ratio of 2.88, a quick ratio of 1.59 and a debt-to-equity ratio of 0.53. Interface, Inc. has a twelve month low of $17.24 and a twelve month high of $30.20. The company has a market capitalization of $1.50 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.04 and a beta of 2.07.

Interface (NASDAQ:TILE) last posted its quarterly earnings results on Friday, October 31st. The textile maker reported $0.61 EPS for the quarter, beating the consensus estimate of $0.46 by $0.15. Interface had a return on equity of 18.97% and a net margin of 7.08%.The company had revenue of $364.53 million during the quarter, compared to analysts’ expectations of $358.19 million. During the same quarter in the previous year, the business earned $0.48 EPS. The firm’s revenue was up 5.9% on a year-over-year basis. Interface has set its FY 2025 guidance at EPS. On average, research analysts predict that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, August 29th. Interface’s dividend payout ratio (DPR) is 4.17%.

Interface Profile

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.