Weiss Asset Management LP Buys Shares of 16,765 Interface, Inc. $TILE

Weiss Asset Management LP bought a new stake in shares of Interface, Inc. (NASDAQ:TILE) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 16,765 shares of the textile maker’s stock, valued at approximately $418,000.

A number of other hedge funds have also recently made changes to their positions in the stock. CIBC Private Wealth Group LLC grew its stake in shares of Interface by 180.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker’s stock worth $27,000 after buying an additional 631 shares during the last quarter. Larson Financial Group LLC raised its stake in Interface by 114.6% during the third quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker’s stock valued at $34,000 after buying an additional 628 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in Interface during the second quarter valued at $35,000. Wexford Capital LP bought a new stake in Interface in the third quarter worth $43,000. Finally, Blue Trust Inc. boosted its holdings in Interface by 88.3% in the fourth quarter. Blue Trust Inc. now owns 2,199 shares of the textile maker’s stock worth $61,000 after acquiring an additional 1,031 shares in the last quarter. 98.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Interface in a research note on Wednesday, June 17th. Wall Street Zen raised Interface from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Barrington Research reiterated an “outperform” rating and issued a $36.00 price target on shares of Interface in a research note on Friday, April 17th. Zacks Research raised shares of Interface from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Finally, Benchmark started coverage on shares of Interface in a research note on Tuesday, May 19th. They set a “buy” rating and a $36.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $36.00.

Insider Transactions at Interface

In other news, VP David B. Foshee sold 44,393 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $29.00, for a total value of $1,287,397.00. Following the transaction, the vice president owned 175,014 shares of the company’s stock, valued at $5,075,406. This trade represents a 20.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Bruce Andrew Hausmann sold 50,000 shares of Interface stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $29.66, for a total value of $1,483,000.00. Following the transaction, the chief financial officer directly owned 119,256 shares in the company, valued at approximately $3,537,132.96. The trade was a 29.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.47% of the company’s stock.

Interface Stock Performance

TILE stock opened at $34.45 on Wednesday. The stock has a market capitalization of $2.00 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.07 and a beta of 1.88. Interface, Inc. has a 12-month low of $20.37 and a 12-month high of $36.66. The company has a current ratio of 2.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.30. The stock’s 50 day simple moving average is $32.17 and its 200 day simple moving average is $30.20.

Interface (NASDAQ:TILE) last issued its earnings results on Friday, May 8th. The textile maker reported $0.41 EPS for the quarter, beating the consensus estimate of $0.33 by $0.08. Interface had a return on equity of 20.09% and a net margin of 8.92%.The business had revenue of $331.04 million for the quarter, compared to the consensus estimate of $320.38 million. During the same period last year, the business posted $0.25 EPS. The company’s revenue was up 11.3% compared to the same quarter last year. As a group, research analysts forecast that Interface, Inc. will post 2.11 earnings per share for the current fiscal year.

Interface Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were given a $0.03 dividend. The ex-dividend date was Friday, June 5th. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. Interface’s dividend payout ratio is presently 5.61%.

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.