Interface, Inc. $TILE Position Cut by Isthmus Partners LLC

Isthmus Partners LLC decreased its position in shares of Interface, Inc. (NASDAQ:TILE) by 11.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 155,192 shares of the textile maker’s stock after selling 20,459 shares during the quarter. Isthmus Partners LLC owned about 0.27% of Interface worth $3,867,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of TILE. Fuller & Thaler Asset Management Inc. raised its stake in shares of Interface by 133.9% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker’s stock valued at $56,071,000 after purchasing an additional 1,149,733 shares in the last quarter. UBS Group AG grew its position in Interface by 413.8% in the 4th quarter. UBS Group AG now owns 499,035 shares of the textile maker’s stock valued at $13,933,000 after buying an additional 401,912 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in Interface by 273.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 386,828 shares of the textile maker’s stock valued at $10,800,000 after buying an additional 283,152 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Interface by 2,333.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 280,986 shares of the textile maker’s stock valued at $7,845,000 after buying an additional 269,439 shares during the period. Finally, Clark Capital Management Group Inc. raised its position in shares of Interface by 67.9% during the 3rd quarter. Clark Capital Management Group Inc. now owns 623,295 shares of the textile maker’s stock worth $18,038,000 after buying an additional 252,157 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

Interface Stock Performance

Shares of TILE opened at $32.14 on Thursday. 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’s 50 day moving average is $30.75 and its 200-day moving average is $29.74. Interface, Inc. has a 12-month low of $20.37 and a 12-month high of $36.66. The stock has a market capitalization of $1.87 billion, a P/E ratio of 15.02, a P/E/G ratio of 1.06 and a beta of 1.88.

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

Interface Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. Interface’s dividend payout ratio (DPR) is currently 5.61%.

Insiders Place Their Bets

In other news, CFO Bruce Andrew Hausmann sold 50,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.66, for a total transaction of $1,483,000.00. Following the completion of the sale, the chief financial officer directly owned 119,256 shares of the company’s stock, valued at $3,537,132.96. This represents a 29.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP David B. Foshee sold 44,393 shares of the 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 $5,075,406. This trade represents a 20.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.47% of the company’s stock.

Analysts Set New Price Targets

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

Interface 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.