UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $4.99 Million Position in Interface, Inc. $TILE

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Interface, Inc. (NASDAQ:TILE) by 22.5% during the second quarter, HoldingsChannel.com reports. The firm owned 139,334 shares of the textile maker’s stock after buying an additional 25,601 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Interface were worth $4,994,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Westover Capital Advisors LLC acquired a new position in shares of Interface during the 4th quarter worth about $1,744,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Interface by 2,333.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 280,986 shares of the textile maker’s stock valued at $7,845,000 after acquiring an additional 269,439 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of Interface in the 1st quarter valued at approximately $3,257,000. Virtus Advisers LLC bought a new position in Interface during the 2nd quarter worth approximately $1,489,000. Finally, Aurora Investment Counsel bought a new position in Interface during the 2nd quarter worth approximately $3,043,000. 98.34% of the stock is currently owned by institutional investors.

Interface Trading Down 2.6%

Shares of NASDAQ:TILE opened at $34.51 on Thursday. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 1.00 and a beta of 1.92. Interface, Inc. has a 12 month low of $24.40 and a 12 month high of $40.50. The company’s fifty day simple moving average is $35.70 and its 200 day simple moving average is $31.29. The company has a quick ratio of 1.35, a current ratio of 2.53 and a debt-to-equity ratio of 0.29.

Interface (NASDAQ:TILE) last announced its earnings results 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 firm 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 company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 EPS. As a group, research analysts forecast that Interface, Inc. will post 2.36 EPS for the current fiscal year.

Interface Dividend Announcement

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

Insider Activity

In related news, CEO Laurel Hurd sold 7,000 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $39.09, for a total transaction of $273,630.00. Following the completion of the transaction, the chief executive officer directly owned 506,978 shares in the company, valued at approximately $19,817,770.02. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel Hendrix sold 8,000 shares of Interface stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $37.13, for a total value of $297,040.00. Following the completion of the sale, the director directly owned 88,147 shares in the company, valued at approximately $3,272,898.11. This represents a 8.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 15,170 shares of company stock valued at $577,322 over the last ninety days. 2.47% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.