Allianz Asset Management GmbH Acquires 63,112 Shares of Interface, Inc. $TILE

Key Points

• Allianz Asset Management GmbH increased its holdings in Interface, Inc. by 12.5%, acquiring an additional 63,112 shares during the second quarter, resulting in ownership of approximately 0.97% of the company, valued at $11.87 million.
• Interface reported $0.60 earnings per share (EPS) for its latest quarter, exceeding analysts' expectations of $0.47, with revenues also surpassing estimates at $375.52 million.
• The company recently declared a quarterly dividend of $0.02 per share, translating to an annualized yield of 0.3%, and has set its FY 2025 EPS guidance amid analysts forecasting 1.37 EPS for the current year.

Allianz Asset Management GmbH grew its holdings in Interface, Inc. (NASDAQ:TILE - Free Report) by 12.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 567,138 shares of the textile maker's stock after purchasing an additional 63,112 shares during the quarter. Allianz Asset Management GmbH owned about 0.97% of Interface worth $11,870,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TILE. IFP Advisors Inc raised its holdings in shares of Interface by 2,695.2% in the second quarter. IFP Advisors Inc now owns 1,174 shares of the textile maker's stock valued at $25,000 after buying an additional 1,132 shares during the last quarter. Virtus Advisers LLC acquired a new stake in Interface in the 1st quarter valued at about $57,000. RHS Financial LLC bought a new position in shares of Interface in the second quarter worth about $212,000. Moran Wealth Management LLC raised its stake in shares of Interface by 11.0% in the second quarter. Moran Wealth Management LLC now owns 11,426 shares of the textile maker's stock worth $239,000 after acquiring an additional 1,131 shares during the last quarter. Finally, Martingale Asset Management L P acquired a new position in shares of Interface during the first quarter worth approximately $260,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Interface Trading Up 2.2%

NASDAQ TILE opened at $27.75 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. Interface, Inc. has a 12 month low of $17.24 and a 12 month high of $30.20. The company has a market capitalization of $1.62 billion, a PE ratio of 17.13, a P/E/G ratio of 1.07 and a beta of 2.07. The stock has a 50-day simple moving average of $27.61 and a 200 day simple moving average of $23.01.

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

Interface Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, August 29th. Interface's dividend payout ratio (DPR) is currently 4.94%.

Insider Activity

In other news, 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 transaction, the vice president owned 65,125 shares of the company's stock, valued at $1,667,200. The trade was a 54.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Bruce Andrew Hausmann sold 25,000 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $26.95, for a total value of $673,750.00. Following the sale, the chief financial officer directly owned 145,403 shares in the company, valued at $3,918,610.85. The trade was a 14.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,497 shares of company stock valued at $2,839,573 in the last quarter. Company insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

TILE has been the subject of a number of research reports. Barrington Research reissued an "outperform" rating and issued a $32.00 price target on shares of Interface in a report on Wednesday, October 15th. Wall Street Zen lowered Interface from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Zacks Research cut Interface from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 30th. Finally, Weiss Ratings downgraded Interface from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Interface currently has an average rating of "Hold" and an average price target of $32.00.

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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