GW&K Investment Management LLC Has $27.74 Million Stake in Interface, Inc. $TILE

GW&K Investment Management LLC lifted its position in shares of Interface, Inc. (NASDAQ:TILE) by 12.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 993,413 shares of the textile maker’s stock after acquiring an additional 111,564 shares during the quarter. GW&K Investment Management LLC’s holdings in Interface were worth $27,736,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Westover Capital Advisors LLC acquired a new stake in shares of Interface during the 4th quarter valued at $1,744,000. American Century Companies Inc. boosted its holdings in shares of Interface by 5.5% during the 3rd quarter. American Century Companies Inc. now owns 2,412,549 shares of the textile maker’s stock valued at $69,819,000 after acquiring an additional 126,263 shares in the last quarter. Congress Asset Management Co. lifted its holdings in Interface by 3.3% during the 4th quarter. Congress Asset Management Co. now owns 2,629,174 shares of the textile maker’s stock worth $73,407,000 after buying an additional 84,793 shares during the period. JPMorgan Chase & Co. lifted its holdings in Interface by 43.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 289,092 shares of the textile maker’s stock worth $8,366,000 after buying an additional 87,462 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Interface by 2,333.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 280,986 shares of the textile maker’s stock worth $7,845,000 after buying an additional 269,439 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

Insider Activity

In related news, VP David B. Foshee sold 44,393 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was 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 $5,075,406. The trade was a 20.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Bruce Andrew Hausmann sold 50,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer directly owned 119,256 shares of the company’s stock, valued at $3,537,132.96. The trade was a 29.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TILE shares. Benchmark started coverage on Interface in a report on Tuesday, May 19th. They set a “buy” rating and a $36.00 target price on the stock. Wall Street Zen raised Interface from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Barrington Research reaffirmed an “outperform” rating and set a $36.00 target price on shares of Interface in a report on Friday, April 17th. Finally, Weiss Ratings raised Interface from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 20th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Interface Stock Performance

TILE stock opened at $30.40 on Thursday. The stock has a 50-day moving average price of $28.07 and a 200-day moving average price of $28.93. Interface, Inc. has a 1-year low of $20.01 and a 1-year high of $35.11. 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 market cap of $1.77 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 0.99 and a beta of 1.91.

Interface (NASDAQ:TILE) last posted 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. Interface had a return on equity of 20.09% and a net margin of 8.92%.The firm had revenue of $331.04 million during the quarter, compared to analyst estimates of $320.38 million. During the same period last year, the company posted $0.25 EPS. The business’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, equities research analysts expect that Interface, Inc. will post 2.11 earnings per share for the current year.

Interface Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be given a $0.03 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. Interface’s dividend payout ratio (DPR) is 5.61%.

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.