Strs Ohio purchased a new stake in shares of Interface, Inc. (NASDAQ:TILE – Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 29,100 shares of the textile maker’s stock, valued at approximately $725,000.
Several other institutional investors have also recently made changes to their positions in TILE. Westover Capital Advisors LLC purchased a new position in Interface during the fourth quarter worth about $1,744,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Interface by 2,333.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 280,986 shares of the textile maker’s stock valued at $7,845,000 after acquiring an additional 269,439 shares in the last quarter. Congress Asset Management Co. raised its holdings in shares of Interface by 3.3% in the 4th quarter. Congress Asset Management Co. now owns 2,629,174 shares of the textile maker’s stock valued at $73,407,000 after acquiring an additional 84,793 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Interface by 43.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 289,092 shares of the textile maker’s stock valued at $8,366,000 after acquiring an additional 87,462 shares during the last quarter. Finally, Clark Capital Management Group Inc. boosted its position in shares of Interface by 67.9% during the 3rd quarter. Clark Capital Management Group Inc. now owns 623,295 shares of the textile maker’s stock valued at $18,038,000 after acquiring an additional 252,157 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.
Analysts Set New Price Targets
TILE has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Interface in a research report on Wednesday, June 17th. Wall Street Zen upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Barrington Research reissued an “outperform” rating and issued a $36.00 price target on shares of Interface in a research note on Friday, April 17th. Zacks Research raised shares of Interface from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Finally, Benchmark started coverage on shares of Interface in a report on Tuesday, May 19th. They set a “buy” rating and a $36.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $36.00.
Insider Transactions at Interface
In other news, CFO Bruce Andrew Hausmann sold 50,000 shares of Interface stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $29.66, for a total value of $1,483,000.00. Following the transaction, the chief financial officer owned 119,256 shares in the company, valued at approximately $3,537,132.96. The trade was a 29.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David B. Foshee sold 44,393 shares of the business’s stock in a transaction dated 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 directly owned 175,014 shares of the company’s stock, valued at approximately $5,075,406. This trade represents a 20.23% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.47% of the stock is currently owned by company insiders.
Interface Price Performance
Shares of Interface stock opened at $32.14 on Thursday. Interface, Inc. has a 52-week low of $20.37 and a 52-week high of $36.66. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 1.06 and a beta of 1.88. The company has a fifty day moving average of $30.75 and a 200-day moving average of $29.74. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.16 and a current ratio of 2.43.
Interface (NASDAQ:TILE – Get Free Report) last released its earnings results on Friday, May 8th. The textile maker reported $0.41 EPS for the quarter, beating the consensus estimate of $0.33 by $0.08. The company had revenue of $331.04 million for the quarter, compared to analyst estimates of $320.38 million. Interface had a net margin of 8.92% and a return on equity of 20.09%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 EPS. Equities research analysts expect that Interface, Inc. will post 2.11 EPS for the current year.
Interface Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, June 5th. Interface’s dividend payout ratio (DPR) is 5.61%.
About Interface
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.
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