Jupiter Topco LLC Acquires New Position in Interface, Inc. $TILE

Jupiter Topco LLC bought a new position in 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 institutional investor bought 25,431 shares of the textile maker’s stock, valued at approximately $912,000.

A number of other institutional investors and hedge funds have also bought and sold shares of TILE. BlackRock Inc. bought a new stake in shares of Interface in the 2nd quarter worth approximately $338,055,000. Dimensional Fund Advisors LP grew its holdings in shares of Interface by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,689,857 shares of the textile maker’s stock valued at $75,105,000 after purchasing an additional 36,530 shares during the last quarter. State Street Corp raised its position in Interface by 0.7% in the 4th quarter. State Street Corp now owns 2,192,472 shares of the textile maker’s stock worth $61,214,000 after purchasing an additional 14,764 shares during the period. Fuller & Thaler Asset Management Inc. lifted its stake in Interface by 133.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker’s stock worth $56,071,000 after purchasing an additional 1,149,733 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Interface in the second quarter worth $66,077,000. 98.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TILE has been the topic of a number of recent research reports. Wall Street Zen cut Interface from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Zacks Research upgraded Interface from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 26th. Benchmark initiated coverage on Interface in a research report on Tuesday, May 19th. They set a “buy” rating and a $36.00 price target on the stock. Barrington Research lifted their price target on Interface from $36.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Finally, Weiss Ratings upgraded Interface from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $40.50.

Interface Stock Performance

Shares of NASDAQ:TILE opened at $37.24 on Friday. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 1.05 and a beta of 1.92. The company has a 50-day moving average price of $35.71 and a 200-day moving average price of $31.26. The company has a current ratio of 2.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.29. Interface, Inc. has a 12 month low of $24.40 and a 12 month high of $40.50.

Interface (NASDAQ:TILE) last posted its earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share (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 company had revenue of $395.70 million for the quarter, compared to analysts’ expectations of $391.22 million. During the same period last year, the firm earned $0.60 earnings per share. Interface’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities analysts anticipate that Interface, Inc. will post 2.36 EPS for the current year.

Interface Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Interface’s payout ratio is 4.86%.

Insider Activity at Interface

In related news, Director Daniel T. Hendrix sold 8,000 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $37.13, for a total value of $297,040.00. Following the completion of the sale, the director owned 88,147 shares of the company’s stock, valued at $3,272,898.11. This trade represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Laurel Hurd sold 7,000 shares of Interface stock in a transaction on Monday, August 24th. The shares were sold at an average price of $39.09, for a total transaction of $273,630.00. Following the completion of the sale, the chief executive officer owned 506,978 shares in the company, valued at approximately $19,817,770.02. This trade represents a 1.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 15,170 shares of company stock worth $577,322 over the last three months. Insiders own 2.47% of the company’s stock.

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.