137,050 Shares in Interface, Inc. (NASDAQ:TILE) Bought by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC purchased 137,050 shares of Interface, Inc. for approximately $2.72 million, representing about 0.24% of the company's outstanding stock.
• Analysts have upgraded Interface's rating from "buy" to "strong-buy" and raised the price target from $30.00 to $32.00.
• Interface reported a quarterly earnings of $0.60 per share, exceeding estimates by $0.13, with revenue of $375.52 million, reflecting an 8.3% year-over-year growth.

Townsquare Capital LLC bought a new position in shares of Interface, Inc. (NASDAQ:TILE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 137,050 shares of the textile maker's stock, valued at approximately $2,719,000. Townsquare Capital LLC owned approximately 0.24% of Interface as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TILE. Virtus Fund Advisers LLC bought a new position in Interface during the fourth quarter worth $48,000. Versant Capital Management Inc boosted its stake in Interface by 49.6% during the first quarter. Versant Capital Management Inc now owns 2,458 shares of the textile maker's stock worth $49,000 after acquiring an additional 815 shares in the last quarter. Scotia Capital Inc. bought a new position in Interface during the fourth quarter worth $204,000. Bayesian Capital Management LP bought a new stake in Interface during the 4th quarter valued at $217,000. Finally, PharVision Advisers LLC bought a new stake in Interface during the 4th quarter valued at $223,000. 98.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on TILE. Wall Street Zen upgraded shares of Interface from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Barrington Research boosted their price target on shares of Interface from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Friday, August 1st.

Interface Price Performance

Shares of NASDAQ:TILE opened at $24.91 on Tuesday. The company has a current ratio of 2.88, a quick ratio of 1.59 and a debt-to-equity ratio of 0.53. The stock's fifty day simple moving average is $21.49 and its two-hundred day simple moving average is $20.71. Interface, Inc. has a 1-year low of $16.20 and a 1-year high of $27.34. The stock has a market cap of $1.46 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 0.98 and a beta of 2.00.

Interface (NASDAQ:TILE - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The textile maker reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.13. The business had revenue of $375.52 million for the quarter, compared to analysts' expectations of $360.57 million. Interface had a return on equity of 18.97% and a net margin of 7.08%. The business's revenue was up 8.3% on a year-over-year basis. During the same period last year, the business earned $0.40 EPS. As a group, analysts forecast that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, May 30th. Interface's dividend payout ratio is 2.47%.

Insiders Place Their Bets

In other Interface news, VP James Poppens sold 19,474 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $20.14, for a total value of $392,206.36. Following the completion of the transaction, the vice president owned 130,142 shares in the company, valued at $2,621,059.88. This represents a 13.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stansfield Nigel sold 79,497 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $25.60, for a total value of $2,035,123.20. Following the completion of the sale, the vice president owned 65,125 shares in the company, valued at approximately $1,667,200. The trade was a 54.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 99,497 shares of company stock valued at $2,437,913 in the last 90 days. Corporate insiders own 2.60% of the company's stock.

About Interface

Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.

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