Northwestern Mutual Wealth Management Co. Increases Holdings in Interface, Inc. $TILE

Northwestern Mutual Wealth Management Co. raised its stake in shares of Interface, Inc. (NASDAQ:TILE) by 2,333.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 280,986 shares of the textile maker’s stock after buying an additional 269,439 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Interface were worth $7,845,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in 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 buying an additional 628 shares during the last quarter. Wexford Capital LP purchased a new stake in Interface during the 3rd quarter valued at $43,000. EverSource Wealth Advisors LLC purchased a new stake in Interface during the 2nd quarter valued at $35,000. Blue Trust Inc. raised its stake in Interface by 88.3% during the 4th quarter. Blue Trust Inc. now owns 2,199 shares of the textile maker’s stock valued at $61,000 after buying an additional 1,031 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Interface by 2,438.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 5,001 shares of the textile maker’s stock valued at $145,000 after buying an additional 4,804 shares during the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Interface from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 20th. Barrington Research restated an “outperform” rating and issued a $36.00 price objective on shares of Interface in a research note on Friday, April 17th. Benchmark began coverage on Interface in a research note on Tuesday. They issued a “buy” rating and a $36.00 price objective for the company. Finally, Wall Street Zen upgraded Interface from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Interface Trading Down 1.1%

NASDAQ:TILE opened at $28.81 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.43 and a quick ratio of 1.16. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 0.92 and a beta of 1.92. Interface, Inc. has a one year low of $18.74 and a one year high of $35.11. The business has a fifty day moving average price of $27.07 and a 200-day moving average price of $28.56.

Interface (NASDAQ:TILE) last posted its quarterly earnings data on Friday, May 8th. The textile maker reported $0.41 EPS for the quarter, topping the consensus estimate of $0.33 by $0.08. The firm had revenue of $331.04 million during the quarter, compared to analyst estimates of $320.38 million. Interface had a return on equity of 20.09% and a net margin of 8.92%.Interface’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 EPS. Sell-side analysts forecast that Interface, Inc. will post 2.11 EPS for the current year.

Interface Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.12 annualized dividend and a yield of 0.4%. Interface’s dividend payout ratio is currently 5.61%.

Insider Buying and Selling at Interface

In related news, VP David B. Foshee sold 44,393 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $29.00, for a total value of $1,287,397.00. Following the completion of the transaction, the vice president owned 175,014 shares of the company’s stock, valued at approximately $5,075,406. This represents a 20.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP James Poppens sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $29.42, for a total transaction of $294,200.00. Following the completion of the transaction, the vice president directly owned 119,496 shares of the company’s stock, valued at $3,515,572.32. This represents a 7.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 70,043 shares of company stock valued at $2,023,689 in the last ninety days. 2.47% of the stock is currently owned by insiders.

Interface Company Profile

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.