Barrow Hanley Mewhinney & Strauss LLC Buys Shares of 1,843,670 Interface, Inc. $TILE

Key Points

• Barrow Hanley Mewhinney & Strauss LLC acquired 1.84 million shares of Interface, valued at approximately $66.1 million, giving it a 3.18% stake. Institutional investors collectively own 98.34% of the company.
• Interface reported quarterly EPS of $0.88, exceeding the $0.64 analyst consensus, while revenue rose 5.4% year over year to $395.7 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $40.50.
• Interface shares opened at $38.94, near their 12-month high of $40.50. The company also announced a quarterly dividend of $0.03 per share, equivalent to a 0.3% annual yield.

Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Interface, Inc. (NASDAQ:TILE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,843,670 shares of the textile maker's stock, valued at approximately $66,077,000. Barrow Hanley Mewhinney & Strauss LLC owned about 3.18% of Interface as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TILE. BlackRock Inc. purchased a new position in Interface during the second quarter worth approximately $338,055,000. Dimensional Fund Advisors LP boosted its position in Interface by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,689,857 shares of the textile maker's stock valued at $75,105,000 after buying an additional 36,530 shares during the last quarter. State Street Corp grew its stake in Interface by 0.7% during the 4th quarter. State Street Corp now owns 2,192,472 shares of the textile maker's stock valued at $61,214,000 after purchasing an additional 14,764 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Interface by 133.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker's stock worth $56,071,000 after buying an additional 1,149,733 shares during the last quarter. Finally, GW&K Investment Management LLC raised its stake in shares of Interface by 12.7% in the 4th quarter. GW&K Investment Management LLC now owns 993,413 shares of the textile maker's stock valued at $27,736,000 after purchasing an additional 111,564 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Interface

In other Interface news, CFO Bruce Andrew Hausmann sold 50,000 shares of Interface stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.66, for a total transaction of $1,483,000.00. Following the completion of the sale, the chief financial officer owned 119,256 shares of the company's stock, valued at approximately $3,537,132.96. The trade was a 29.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.47% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TILE has been the subject of several research reports. Benchmark began coverage on shares of Interface in a report on Tuesday, May 19th. They issued a "buy" rating and a $36.00 price target for the company. Weiss Ratings raised shares of Interface from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 12th. Barrington Research raised their target price on Interface from $36.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. Zacks Research cut Interface from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 28th. Finally, Wall Street Zen downgraded shares of Interface from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 15th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $40.50.

Interface Price Performance

Shares of TILE opened at $38.94 on Monday. The company has a 50-day moving average price of $34.73 and a two-hundred day moving average price of $30.96. The company has a quick ratio of 1.35, a current ratio of 2.53 and a debt-to-equity ratio of 0.29. Interface, Inc. has a 12 month low of $24.40 and a 12 month high of $40.50. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 1.10 and a beta of 1.90.

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

Interface Dividend Announcement

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

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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