BlackRock Inc. Buys Shares of 9,432,349 Interface, Inc. $TILE

BlackRock Inc. bought a new position in shares of Interface, Inc. (NASDAQ:TILE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 9,432,349 shares of the textile maker's stock, valued at approximately $338,055,000. BlackRock Inc. owned about 16.25% of Interface as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Interface by 133.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker's stock worth $56,071,000 after acquiring an additional 1,149,733 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Interface during the 2nd quarter worth approximately $16,508,000. UBS Group AG raised its position in shares of Interface by 413.8% during the 4th quarter. UBS Group AG now owns 499,035 shares of the textile maker's stock valued at $13,933,000 after buying an additional 401,912 shares during the period. Balyasny Asset Management L.P. increased its position in shares of Interface by 273.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 386,828 shares of the textile maker's stock worth $10,800,000 after purchasing an additional 283,152 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Interface by 2,333.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 280,986 shares of the textile maker's stock valued at $7,845,000 after acquiring an additional 269,439 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company's stock.

Insider Transactions at Interface

In related news, CEO Laurel Hurd sold 7,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 506,978 shares of the company's stock, valued at $19,817,770.02. This represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.47% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Interface Trading Down 0.6%

Shares of NASDAQ:TILE opened at $38.70 on Thursday. Interface, Inc. has a 52 week low of $24.40 and a 52 week high of $40.50. The company's 50 day moving average is $35.18 and its two-hundred day moving average is $31.07. The company has a market cap of $2.25 billion, a PE ratio of 15.67, a P/E/G ratio of 1.10 and a beta of 1.90. The company has a current ratio of 2.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.29.

Interface (NASDAQ:TILE - Get Free Report) last issued its earnings results on Friday, August 7th. The textile maker reported $0.88 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 firm had revenue of $395.70 million during the quarter, compared to the consensus estimate of $391.22 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The company's revenue was up 5.4% compared to the same quarter last year. Equities analysts predict that Interface, Inc. will post 2.36 earnings per share for the current fiscal year.

Interface Dividend Announcement

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

Interface Company 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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