130,635 Shares in Interface, Inc. $TILE Bought by Legal & General Group Plc

Key Points

• Legal & General Group Plc acquired 130,635 shares of Interface, valued at approximately $4.68 million, giving it a 0.22% stake. Institutional investors collectively own 98.34% of the company.
• Interface exceeded quarterly expectations, reporting adjusted EPS of $0.88 versus the $0.64 consensus estimate and revenue of $395.7 million, up 5.4% year over year.
• Analysts maintain a favorable outlook, with the stock carrying a consensus “Buy” rating and a $40.50 target price; Interface also declared a quarterly dividend of $0.03 per share.

Legal & General Group Plc bought a new position in Interface, Inc. (NASDAQ:TILE - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 130,635 shares of the textile maker's stock, valued at approximately $4,682,000. Legal & General Group Plc owned 0.22% of Interface at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in TILE. CIBC Private Wealth Group LLC grew its position in shares of Interface by 180.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker's stock worth $27,000 after acquiring an additional 631 shares during the last quarter. Allworth Financial LP bought a new stake in Interface in the 2nd quarter valued at about $36,000. Larson Financial Group LLC boosted 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 purchasing an additional 628 shares during the period. Wexford Capital LP acquired a new position in Interface during the 3rd quarter valued at about $43,000. Finally, EverSource Wealth Advisors LLC bought a new position in Interface in the 2nd quarter worth about $35,000. 98.34% of the stock is currently owned by institutional investors.

Insider Activity at Interface

In other news, CEO Laurel Hurd sold 7,000 shares of the company's 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 completion of the sale, the chief executive officer owned 506,978 shares in the company, valued at $19,817,770.02. This represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.47% of the company's stock.

Interface Trading Down 1.2%

Shares of NASDAQ:TILE opened at $36.39 on Friday. The company has a 50 day moving average of $35.68 and a 200-day moving average of $31.22. The company has a current ratio of 2.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.29. The firm has a market cap of $2.11 billion, a P/E ratio of 14.73, a P/E/G ratio of 1.04 and a beta of 1.92. Interface, Inc. has a twelve month low of $24.40 and a twelve month high of $40.50.

Interface (NASDAQ:TILE - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The textile maker reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.24. The business had revenue of $395.70 million for the quarter, compared to analyst estimates of $391.22 million. Interface had a net margin of 10.10% and a return on equity of 21.77%. The business's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the business earned $0.60 earnings per share. As a group, analysts anticipate that Interface, Inc. will post 2.36 earnings per share for the current fiscal year.

Interface Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Interface's payout ratio is currently 4.86%.

Analyst Ratings Changes

A number of research firms have recently weighed in on TILE. Barrington Research lifted their price target on Interface from $36.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, August 10th. Wall Street Zen lowered Interface from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 15th. Benchmark assumed coverage on Interface in a research report on Tuesday, May 19th. They issued a "buy" rating and a $36.00 target price on the stock. Zacks Research raised Interface from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 26th. Finally, Weiss Ratings raised Interface from a "buy (b-)" rating to a "buy (b)" rating in a research note 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. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $40.50.

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.

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