Interface, Inc. $TILE Shares Purchased by UBS Group AG

UBS Group AG boosted its holdings in Interface, Inc. (NASDAQ:TILE) by 413.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 499,035 shares of the textile maker’s stock after buying an additional 401,912 shares during the quarter. UBS Group AG owned 0.85% of Interface worth $13,933,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. American Century Companies Inc. grew its position in Interface by 5.5% during the 3rd quarter. American Century Companies Inc. now owns 2,412,549 shares of the textile maker’s stock worth $69,819,000 after purchasing an additional 126,263 shares in the last quarter. Congress Asset Management Co. grew its position in Interface by 3.3% during the 4th quarter. Congress Asset Management Co. now owns 2,629,174 shares of the textile maker’s stock worth $73,407,000 after purchasing an additional 84,793 shares in the last quarter. SummerHaven Investment Management LLC purchased a new position in Interface during the 3rd quarter worth approximately $1,102,000. JPMorgan Chase & Co. grew its position in Interface by 43.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 289,092 shares of the textile maker’s stock worth $8,366,000 after purchasing an additional 87,462 shares in the last quarter. Finally, Clark Capital Management Group Inc. grew its position in 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 purchasing an additional 252,157 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities 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 report on Friday, March 20th. Barrington Research reiterated an “outperform” rating and set a $36.00 price objective on shares of Interface in a research report on Friday, April 17th. Finally, Wall Street Zen cut shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 17th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Insider Activity

In other Interface news, VP James Poppens sold 8,000 shares of Interface stock in a transaction on Friday, March 6th. The shares were sold at an average price of $28.05, for a total transaction of $224,400.00. Following the completion of the sale, the vice president owned 103,846 shares of the company’s stock, valued at $2,912,880.30. This trade represents a 7.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 25,650 shares of company stock worth $736,292. Company insiders own 2.47% of the company’s stock.

Interface Trading Down 1.5%

Shares of NASDAQ:TILE opened at $27.71 on Thursday. The firm has a fifty day moving average of $27.04 and a two-hundred day moving average of $28.50. The firm has a market capitalization of $1.61 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 0.89 and a beta of 1.92. Interface, Inc. has a 12-month low of $18.74 and a 12-month high of $35.11. The company has a quick ratio of 1.16, a current ratio of 2.43 and a debt-to-equity ratio of 0.30.

Interface (NASDAQ:TILE) last issued its earnings results on Friday, May 8th. The textile maker reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.08. The company had revenue of $331.04 million during the quarter, compared to analyst estimates of $320.38 million. Interface had a net margin of 8.92% and a return on equity of 20.09%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. On average, equities analysts expect that Interface, Inc. will post 2.11 EPS for the current fiscal year.

Interface Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 27th were paid a dividend of $0.03 per share. This is an increase from Interface’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Friday, March 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. Interface’s dividend payout ratio (DPR) is 5.61%.

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.