Jupiter Asset Management Ltd. Buys 10,081 Shares of Interface, Inc. $TILE

Jupiter Asset Management Ltd. boosted its stake in Interface, Inc. (NASDAQ:TILE) by 2.9% during the second quarter, Holdings Channel.com reports. The firm owned 353,183 shares of the textile maker’s stock after buying an additional 10,081 shares during the period. Jupiter Asset Management Ltd.’s holdings in Interface were worth $7,392,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Nuveen LLC bought a new position in shares of Interface in the first quarter worth approximately $15,505,000. Pacer Advisors Inc. bought a new stake in Interface during the 1st quarter valued at $8,635,000. CW Advisors LLC purchased a new stake in Interface during the 1st quarter valued at $6,208,000. American Century Companies Inc. boosted its position in Interface by 11.1% during the 1st quarter. American Century Companies Inc. now owns 2,214,325 shares of the textile maker’s stock valued at $43,932,000 after buying an additional 222,029 shares during the period. Finally, Congress Asset Management Co. grew its holdings in Interface by 9.1% in the 2nd quarter. Congress Asset Management Co. now owns 2,473,541 shares of the textile maker’s stock worth $51,771,000 after acquiring an additional 206,962 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Insider Activity at Interface

In other news, CFO Bruce Andrew Hausmann sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $26.95, for a total value of $673,750.00. Following the sale, the chief financial officer directly owned 145,403 shares of the company’s stock, valued at $3,918,610.85. This represents a 14.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James Poppens sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $26.14, for a total transaction of $130,700.00. Following the completion of the sale, the vice president directly owned 124,616 shares in the company, valued at $3,257,462.24. This represents a 3.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.30% of the company’s stock.

Interface Price Performance

Shares of NASDAQ TILE opened at $26.01 on Friday. Interface, Inc. has a 1 year low of $17.24 and a 1 year high of $30.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.88 and a quick ratio of 1.59. The company’s 50-day moving average is $27.57 and its 200 day moving average is $24.00. The stock has a market capitalization of $1.52 billion, a P/E ratio of 16.06, a P/E/G ratio of 1.04 and a beta of 2.07.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Friday, October 31st. The textile maker reported $0.61 EPS for the quarter, topping the consensus estimate of $0.46 by $0.15. The business had revenue of $364.53 million during the quarter, compared to analyst estimates of $358.19 million. Interface had a net margin of 7.08% and a return on equity of 18.97%. Interface’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business posted $0.48 earnings per share. Interface has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, November 28th. Interface’s dividend payout ratio (DPR) is presently 4.17%.

Analysts Set New Price Targets

TILE has been the subject of several recent analyst reports. Wall Street Zen raised shares of Interface from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Barrington Research reissued an “outperform” rating and issued a $32.00 target price on shares of Interface in a research note on Friday, October 31st. Weiss Ratings raised Interface from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Finally, Zacks Research upgraded Interface from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat.com, Interface has a consensus rating of “Buy” and an average target price of $32.00.

About Interface

Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.