Globeflex Capital L P Invests $6.98 Million in Interface, Inc. $TILE

Globeflex Capital L P bought a new stake in Interface, Inc. (NASDAQ:TILE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 194,715 shares of the textile maker’s stock, valued at approximately $6,979,000. Interface makes up approximately 0.9% of Globeflex Capital L P’s investment portfolio, making the stock its 24th biggest position. Globeflex Capital L P owned approximately 0.34% of Interface at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Interface in the 2nd quarter valued at $338,055,000. Fuller & Thaler Asset Management Inc. boosted its holdings in Interface by 133.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker’s stock worth $56,071,000 after acquiring an additional 1,149,733 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Interface during the 2nd quarter worth $16,508,000. UBS Group AG grew its stake in shares of Interface by 413.8% in the 4th quarter. UBS Group AG now owns 499,035 shares of the textile maker’s stock worth $13,933,000 after acquiring an additional 401,912 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in shares of Interface by 273.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 386,828 shares of the textile maker’s stock worth $10,800,000 after acquiring an additional 283,152 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Interface Price Performance

Shares of NASDAQ:TILE opened at $38.94 on Monday. The firm has a market capitalization of $2.26 billion, a PE ratio of 15.77, a P/E/G ratio of 1.10 and a beta of 1.90. The company has a quick ratio of 1.35, a current ratio of 2.53 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average price of $34.73 and a two-hundred day moving average price of $30.96. Interface, Inc. has a twelve month low of $24.40 and a twelve month high of $40.50.

Interface (NASDAQ:TILE) last posted its quarterly earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.24. The company had revenue of $395.70 million for the quarter, compared to analyst estimates of $391.22 million. Interface had a net margin of 10.10% and a return on equity of 21.77%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Equities analysts forecast that Interface, Inc. will post 2.36 EPS for the current year.

Interface Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. Interface’s payout ratio is presently 4.86%.

Insider Transactions at Interface

In other Interface news, CFO Bruce Andrew Hausmann sold 50,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.66, for a total transaction of $1,483,000.00. Following the sale, the chief financial officer owned 119,256 shares in the company, valued at $3,537,132.96. This represents a 29.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.47% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TILE. Benchmark initiated coverage on shares of Interface in a research report on Tuesday, May 19th. They set a “buy” rating and a $36.00 price target on the stock. Weiss Ratings raised shares of Interface from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Zacks Research lowered Interface from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Barrington Research increased their price target on shares of Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Finally, Wall Street Zen cut shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Interface currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

Interface Company 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.