Legal & General Group Plc Buys New Shares in Interface, Inc. $TILE

Legal & General Group Plc bought a new position in shares of Interface, Inc. (NASDAQ:TILE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 130,635 shares of the textile maker’s stock, valued at approximately $4,682,000.

Several other hedge funds have also recently added to or reduced their stakes in TILE. CIBC Private Wealth Group LLC increased its holdings in shares of Interface by 180.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker’s stock valued at $27,000 after buying an additional 631 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Interface by 114.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker’s stock worth $34,000 after acquiring an additional 628 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new position in shares of Interface in the 2nd quarter worth $35,000. Allworth Financial LP acquired a new stake in shares of Interface during the second quarter worth $36,000. Finally, Wexford Capital LP acquired a new stake in shares of Interface during the third quarter worth $43,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TILE. Wall Street Zen lowered Interface from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Benchmark assumed 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. Barrington Research boosted their price target on shares of Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Weiss Ratings raised shares of Interface from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Finally, Zacks Research raised shares of Interface from a “hold” rating to a “strong-buy” rating in a research note 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $40.50.

Interface Stock Performance

TILE stock opened at $36.39 on Friday. The firm has a 50 day simple moving average of $35.68 and a 200 day simple moving average of $31.22. Interface, Inc. has a 52 week low of $24.40 and a 52 week high of $40.50. The stock has a market cap of $2.11 billion, a P/E ratio of 14.73, a P/E/G ratio of 1.04 and a beta of 1.92. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.35 and a current ratio of 2.53.

Interface (NASDAQ:TILE) last released its quarterly earnings data 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. Interface had a net margin of 10.10% and a return on equity of 21.77%. The firm had revenue of $395.70 million for the quarter, compared to analyst estimates of $391.22 million. During the same quarter in the prior year, the business earned $0.60 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts anticipate that Interface, Inc. will post 2.36 earnings per share for the current fiscal year.

Interface Announces Dividend

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

Insider Buying and Selling

In other Interface news, CEO Laurel Hurd sold 7,000 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $39.09, for a total value of $273,630.00. Following the transaction, the chief executive officer owned 506,978 shares in the company, valued at $19,817,770.02. The trade was a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.47% of the stock is owned by company insiders.

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.