Interface, Inc. $TILE Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its stake in Interface, Inc. (NASDAQ:TILE) by 8.6% during the second quarter, HoldingsChannel reports. The firm owned 64,127 shares of the textile maker’s stock after selling 6,010 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Interface were worth $1,342,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in shares of Interface by 2.6% during the first quarter. Principal Financial Group Inc. now owns 323,731 shares of the textile maker’s stock worth $6,423,000 after purchasing an additional 8,135 shares during the period. Envestnet Asset Management Inc. increased its stake in Interface by 277.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 97,270 shares of the textile maker’s stock valued at $1,930,000 after buying an additional 71,476 shares during the period. New York State Common Retirement Fund raised its position in Interface by 7.3% during the 1st quarter. New York State Common Retirement Fund now owns 16,184 shares of the textile maker’s stock worth $321,000 after buying an additional 1,100 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Interface by 62.1% in the 1st quarter. Victory Capital Management Inc. now owns 268,660 shares of the textile maker’s stock worth $5,330,000 after acquiring an additional 102,903 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of Interface by 34.3% in the first quarter. Jennison Associates LLC now owns 87,986 shares of the textile maker’s stock valued at $1,746,000 after acquiring an additional 22,492 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Zacks Research upgraded shares of Interface from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Barrington Research reissued an “outperform” rating and set a $32.00 target price on shares of Interface in a research note on Friday, October 31st. Wall Street Zen raised Interface from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings raised Interface from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $32.00.

Insider Buying and Selling at Interface

In related news, VP James Poppens sold 5,000 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $26.14, for a total transaction of $130,700.00. Following the sale, the vice president owned 124,616 shares of the company’s stock, valued at $3,257,462.24. This trade represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Bruce Andrew Hausmann sold 25,000 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $26.95, for a total value of $673,750.00. Following the sale, the chief financial officer directly owned 145,403 shares in the company, valued at approximately $3,918,610.85. The trade was a 14.67% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.30% of the stock is owned by corporate insiders.

Interface Stock Up 1.3%

Shares of NASDAQ TILE opened at $26.68 on Thursday. The firm’s 50-day moving average is $27.61 and its two-hundred day moving average is $23.98. The company has a market capitalization of $1.56 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 1.04 and a beta of 2.07. Interface, Inc. has a 12-month low of $17.24 and a 12-month high of $30.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.88 and a quick ratio of 1.59.

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

Interface Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, November 28th. Interface’s payout ratio 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.