Reynders McVeigh Capital Management LLC Buys 50,054 Shares of Interface, Inc. $TILE

Reynders McVeigh Capital Management LLC lifted its stake in Interface, Inc. (NASDAQ:TILE) by 11.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 489,736 shares of the textile maker’s stock after buying an additional 50,054 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in Interface were worth $17,552,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP purchased a new stake in Interface in the 2nd quarter worth $36,000. Public Employees Retirement System of Ohio purchased a new position in shares of Interface during the second quarter valued at about $39,000. Larson Financial Group LLC grew its position in shares of Interface by 30.8% during the fourth quarter. Larson Financial Group LLC now owns 1,538 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 362 shares in the last quarter. Nykredit A S bought a new stake in shares of Interface in the second quarter worth about $47,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Interface by 60.7% in the first quarter. EverSource Wealth Advisors LLC now owns 2,472 shares of the textile maker’s stock worth $62,000 after buying an additional 934 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

Insider Buying and Selling at Interface

In other Interface news, CEO Laurel Hurd sold 7,000 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $39.09, for a total value of $273,630.00. Following the sale, the chief executive officer owned 506,978 shares in the company, valued at $19,817,770.02. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel Hendrix sold 8,000 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $37.13, for a total transaction of $297,040.00. Following the sale, the director directly owned 88,147 shares of the company’s stock, valued at $3,272,898.11. This represents a 8.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 43,621 shares of company stock valued at $1,601,274 in the last quarter. 2.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Benchmark began coverage on Interface in a research note on Tuesday, May 19th. They issued a “buy” rating and a $36.00 price objective on the stock. Barrington Research upped their price target on shares of Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Wall Street Zen lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Zacks Research upgraded shares of Interface from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 26th. Finally, Weiss Ratings raised shares of Interface from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat.com, Interface presently has a consensus rating of “Buy” and a consensus target price of $40.50.

Interface Trading Down 0.2%

Shares of TILE traded down $0.06 during midday trading on Tuesday, hitting $34.37. The stock had a trading volume of 434,719 shares, compared to its average volume of 525,875. The stock’s 50 day moving average is $35.63 and its 200 day moving average is $31.34. The firm has a market cap of $2.00 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 0.96 and a beta of 1.92. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.53 and a quick ratio of 1.35. Interface, Inc. has a 1 year low of $24.40 and a 1 year high of $40.50.

Interface (NASDAQ:TILE) last issued its quarterly earnings results on Friday, August 7th. The textile maker reported $0.88 EPS for the quarter, beating the consensus estimate of $0.64 by $0.24. The company had revenue of $395.70 million for the quarter, compared to the consensus estimate of $391.22 million. Interface had a net margin of 10.10% and a return on equity of 21.77%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 EPS. As a group, analysts forecast that Interface, Inc. will post 2.36 EPS for the current fiscal year.

Interface Announces Dividend

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

About Interface

Interface, Inc designs and manufactures modular flooring and interior solutions for commercial and residential spaces. Its product portfolio includes modular carpet tile, broadloom carpet, luxury vinyl tile, resilient flooring and rubber flooring, as well as acoustic products and related accessories. The company markets its offerings under brands that include Interface, FLOR and nora.

Interface serves customers in a range of industries, including corporate offices, hospitality, education, healthcare, retail and government.