Front Street Capital Management Inc. Purchases Shares of 44,200 Interface, Inc. $TILE

Front Street Capital Management Inc. purchased a new position in Interface, Inc. (NASDAQ:TILE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 44,200 shares of the textile maker’s stock, valued at approximately $1,584,000.

Several other institutional investors have also recently made changes to their positions in TILE. Westover Capital Advisors LLC purchased a new stake in Interface in the 4th quarter worth approximately $1,744,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Interface by 2,333.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 280,986 shares of the textile maker’s stock worth $7,845,000 after purchasing an additional 269,439 shares during the period. Edgestream Partners L.P. bought a new position in shares of Interface in the first quarter worth approximately $3,257,000. Virtus Advisers LLC purchased a new stake in shares of Interface in the second quarter worth $1,489,000. Finally, Aurora Investment Counsel bought a new stake in shares of Interface during the 2nd quarter valued at $3,043,000. Institutional investors own 98.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on TILE. Barrington Research upped their target price on shares of Interface from $36.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Wall Street Zen downgraded Interface from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Zacks Research lowered Interface from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. Weiss Ratings upgraded Interface from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Finally, Benchmark assumed coverage on Interface in a report on Tuesday, May 19th. They issued a “buy” rating and a $36.00 price target on the stock. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Interface currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

Insiders Place Their Bets

In other Interface news, CFO Bruce Andrew Hausmann sold 50,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.66, for a total transaction of $1,483,000.00. Following the completion of the transaction, the chief financial officer owned 119,256 shares in the company, valued at $3,537,132.96. This trade represents a 29.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Laurel Hurd sold 7,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $19,817,770.02. This trade represents a 1.36% decrease in their position. The SEC filing for this sale provides additional information. 2.47% of the stock is owned by corporate insiders.

Interface Trading Down 1.7%

Shares of TILE stock opened at $38.27 on Tuesday. The company has a current ratio of 2.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 1.10 and a beta of 1.90. Interface, Inc. has a 12-month low of $24.40 and a 12-month high of $40.50. The stock’s 50-day moving average price is $34.87 and its 200-day moving average price is $31.00.

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

Interface Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, September 4th. Interface’s payout ratio is currently 4.86%.

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.