Globeflex Capital L P Takes $6.98 Million Position in Interface, Inc. $TILE

Globeflex Capital L P acquired a new stake in shares of Interface, Inc. (NASDAQ:TILE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 194,715 shares of the textile maker’s stock, valued at approximately $6,979,000. Interface makes up approximately 0.9% of Globeflex Capital L P’s portfolio, making the stock its 24th largest position.

Other institutional investors have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC raised its holdings 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 valued at $27,000 after acquiring an additional 631 shares in the last quarter. Larson Financial Group LLC grew its holdings 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 valued at $34,000 after purchasing an additional 628 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of Interface in the second quarter worth about $35,000. Allworth Financial LP purchased a new position in Interface in the 2nd quarter worth approximately $36,000. Finally, Wexford Capital LP purchased a new position in shares of Interface in the third quarter worth $43,000. 98.34% of the stock is currently owned by institutional investors.

Insider Transactions at Interface

In other Interface news, CFO Bruce Andrew Hausmann sold 50,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.66, for a total value of $1,483,000.00. Following the completion of the sale, the chief financial officer owned 119,256 shares in the company, valued at approximately $3,537,132.96. This represents a 29.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.47% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on TILE. Barrington Research upped their price target on Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Wall Street Zen downgraded Interface from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Zacks Research downgraded shares of Interface from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. Weiss Ratings raised Interface from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Finally, Benchmark initiated coverage on shares of Interface in a report on Tuesday, May 19th. They issued a “buy” rating and a $36.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Interface presently has an average rating of “Moderate Buy” and an average price target of $40.50.

Interface Stock Performance

TILE opened at $38.94 on Monday. Interface, Inc. has a 12-month low of $24.40 and a 12-month high of $40.50. The company’s 50 day moving average is $34.73 and its 200 day moving average is $30.96. 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 company has a market cap of $2.26 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.10 and a beta of 1.90.

Interface (NASDAQ:TILE) last posted its quarterly earnings data on Friday, August 7th. The textile maker reported $0.88 EPS for the quarter, topping the consensus estimate of $0.64 by $0.24. Interface had a return on equity of 21.77% and a net margin of 10.10%.The firm had revenue of $395.70 million during the quarter, compared to analyst estimates of $391.22 million. During the same period in the prior year, the business posted $0.60 EPS. Interface’s revenue was up 5.4% on a year-over-year basis. On average, equities research analysts predict that Interface, Inc. will post 2.36 EPS for the current 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 paid a $0.03 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. Interface’s dividend payout ratio is 4.86%.

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.