Jupiter Topco LLC Acquires Shares of 25,431 Interface, Inc. $TILE

Jupiter Topco LLC acquired a new stake in shares of Interface, Inc. (NASDAQ:TILE) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 25,431 shares of the textile maker’s stock, valued at approximately $912,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in shares of Interface by 8.4% in the 1st quarter. Royal Bank of Canada now owns 19,657 shares of the textile maker’s stock valued at $390,000 after purchasing an additional 1,522 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Interface by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,118 shares of the textile maker’s stock valued at $677,000 after purchasing an additional 1,485 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Interface by 5.9% in the first quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker’s stock worth $14,854,000 after purchasing an additional 42,011 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Interface by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 151,950 shares of the textile maker’s stock worth $3,015,000 after purchasing an additional 9,580 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Interface by 24.7% in the second quarter. JPMorgan Chase & Co. now owns 201,630 shares of the textile maker’s stock worth $4,220,000 after purchasing an additional 39,941 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wall Street Zen lowered Interface from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Benchmark started coverage on shares of Interface in a research report on Tuesday, May 19th. They issued a “buy” rating and a $36.00 target price on the stock. Zacks Research upgraded shares of Interface from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 26th. Weiss Ratings raised shares of Interface from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Finally, Barrington Research upped their price objective on shares of Interface from $36.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $40.50.

Insider Buying and Selling at Interface

In other Interface news, Director Daniel T. Hendrix sold 8,000 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $37.13, for a total transaction of $297,040.00. Following the transaction, the director owned 88,147 shares in the company, valued at approximately $3,272,898.11. This represents a 8.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Laurel Hurd sold 7,000 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $39.09, for a total transaction of $273,630.00. Following the transaction, the chief executive officer owned 506,978 shares in the company, valued at $19,817,770.02. This represents a 1.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 15,170 shares of company stock worth $577,322 over the last ninety days. 2.47% of the stock is currently owned by insiders.

Interface Trading Up 2.3%

NASDAQ:TILE opened at $37.24 on Friday. The company’s 50 day moving average price is $35.71 and its 200-day moving average price is $31.26. Interface, Inc. has a 52 week low of $24.40 and a 52 week high of $40.50. 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 stock has a market cap of $2.16 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.05 and a beta of 1.92.

Interface (NASDAQ:TILE) last announced its quarterly earnings data on Friday, August 7th. The textile maker reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.24. The company had revenue of $395.70 million during 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 firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 EPS. On average, equities research analysts forecast that Interface, Inc. will post 2.36 earnings per share for the current fiscal year.

Interface Dividend Announcement

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

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.