Algert Global LLC Decreases Stock Holdings in Interface, Inc. $TILE

Key Points

• Algert Global LLC reduced its stake in Interface, Inc. by 8.2%, selling 17,950 shares during the first quarter, leaving it with 201,904 shares valued at approximately $4 million.
• Interface, Inc. recently announced a $0.02 per share dividend, which will be paid on September 12th to stockholders of record by August 29th.
• Analysts have upgraded Interface's stock, with Barrington Research raising its price target to $32.00 and maintaining an "outperform" rating, indicating positive market sentiment.

Algert Global LLC reduced its position in Interface, Inc. (NASDAQ:TILE - Free Report) by 8.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 201,904 shares of the textile maker's stock after selling 17,950 shares during the quarter. Algert Global LLC owned about 0.35% of Interface worth $4,006,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TILE. Virtus Fund Advisers LLC purchased a new stake in Interface in the fourth quarter valued at $48,000. Versant Capital Management Inc increased its holdings in shares of Interface by 49.6% during the 1st quarter. Versant Capital Management Inc now owns 2,458 shares of the textile maker's stock worth $49,000 after buying an additional 815 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in Interface in the 4th quarter valued at approximately $217,000. PharVision Advisers LLC purchased a new position in Interface in the 4th quarter valued at approximately $223,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Interface by 56.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,649 shares of the textile maker's stock valued at $291,000 after buying an additional 5,299 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TILE has been the subject of several recent analyst reports. Barrington Research lifted their price objective on shares of Interface from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Interface from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $32.00.

Insider Transactions at Interface

In other news, VP Stansfield Nigel sold 79,497 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $25.60, for a total transaction of $2,035,123.20. Following the transaction, the vice president directly owned 65,125 shares in the company, valued at $1,667,200. The trade was a 54.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP James Poppens sold 19,474 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $20.14, for a total transaction of $392,206.36. Following the sale, the vice president directly owned 130,142 shares in the company, valued at approximately $2,621,059.88. This represents a 13.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,497 shares of company stock worth $2,568,613. Company insiders own 2.60% of the company's stock.

Interface Stock Performance

Shares of Interface stock traded down $0.58 on Monday, reaching $26.68. 398,272 shares of the stock were exchanged, compared to its average volume of 436,213. Interface, Inc. has a 1-year low of $17.24 and a 1-year high of $27.34. 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 business has a fifty day moving average price of $22.73 and a two-hundred day moving average price of $20.89. The firm has a market capitalization of $1.56 billion, a PE ratio of 16.47, a PEG ratio of 1.07 and a beta of 2.00.

Interface (NASDAQ:TILE - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.13. Interface had a net margin of 7.08% and a return on equity of 18.97%. The business had revenue of $375.52 million for the quarter, compared to analyst estimates of $360.57 million. During the same period in the previous year, the business posted $0.40 earnings per share. The business's revenue was up 8.3% compared to the same quarter last year. Interface has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts anticipate that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Dividend Announcement

The company also recently declared a dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, August 29th. Interface's payout ratio is 2.47%.

Interface Profile

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.