Ethic Inc. Purchases 37,951 Shares of Interface, Inc. $TILE

Ethic Inc. raised its position in Interface, Inc. (NASDAQ:TILE) by 298.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 50,649 shares of the textile maker’s stock after buying an additional 37,951 shares during the quarter. Ethic Inc.’s holdings in Interface were worth $1,742,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of TILE. Abacus Wealth Partners LLC lifted its stake in shares of Interface by 29.0% in the 3rd quarter. Abacus Wealth Partners LLC now owns 16,828 shares of the textile maker’s stock worth $579,000 after acquiring an additional 3,780 shares during the period. Ashton Thomas Private Wealth LLC boosted its holdings in shares of Interface by 7.8% in the third quarter. Ashton Thomas Private Wealth LLC now owns 25,923 shares of the textile maker’s stock valued at $892,000 after acquiring an additional 1,881 shares in the last quarter. State of Wyoming purchased a new stake in shares of Interface in the third quarter valued at about $137,000. Signaturefd LLC increased its stake in shares of Interface by 10.3% during the third quarter. Signaturefd LLC now owns 5,947 shares of the textile maker’s stock worth $205,000 after acquiring an additional 556 shares during the period. Finally, Simplicity Wealth LLC acquired a new position in shares of Interface during the third quarter worth about $325,000. 98.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on TILE shares. Weiss Ratings cut shares of Interface from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, October 27th. Barrington Research lifted their price objective on Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Wall Street Zen cut Interface from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Finally, Zacks Research cut Interface from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $40.50.

Insider Activity at Interface

In related news, CEO Laurel Hurd sold 7,000 shares of the business’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $36.42, for a total value of $254,940.00. Following the completion of the transaction, the chief executive officer owned 492,978 shares of the company’s stock, valued at approximately $17,954,258.76. The trade was a 1.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel T. Hendrix sold 4,000 shares of the company’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $35.39, for a total transaction of $141,560.00. Following the completion of the transaction, the director owned 80,147 shares in the company, valued at approximately $2,836,402.33. This trade represents a 4.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 65,621 shares of company stock valued at $2,378,904 over the last quarter. Insiders own 2.47% of the company’s stock.

Interface Price Performance

TILE stock opened at $31.35 on Friday. The stock’s 50 day moving average price is $35.17 and its 200 day moving average price is $32.30. The firm has a market cap of $1.82 billion, a P/E ratio of 12.90, a PEG ratio of 0.89 and a beta of 2.08. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.14 and a current ratio of 2.30. Interface, Inc. has a 1 year low of $24.40 and a 1 year high of $40.84.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Friday, November 6th. The textile maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. The company had revenue of $366.74 million during the quarter, compared to the consensus estimate of $377.60 million. Interface had a return on equity of 21.63% and a net margin of 9.61%. Interface’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 earnings per share. On average, sell-side analysts expect that Interface, Inc. will post 2.38 earnings per share for the current fiscal year.

Interface Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. Interface’s dividend payout ratio (DPR) is presently 5.08%.

Interface Company Profile

Interface, Inc. designs and manufactures flooring products for commercial and institutional spaces. Its offerings include modular carpet tile, luxury vinyl tile and rubber flooring, along with related flooring accessories and installation solutions. Founded in 1973 by Ray Anderson, the company helped popularize modular carpet as an alternative to broadloom flooring. Interface sells its products around the world through a combination of direct sales and distribution partners. Interface also emphasizes sustainability in its product design and manufacturing, with initiatives focused on reducing the environmental impact of its operations and flooring products.