Congress Asset Management Co. Grows Stake in Interface, Inc. $TILE

Key Points

• Congress Asset Management Co. increased its stake in Interface by 3.3% in Q4 to 2,629,174 shares—representing a 4.50% ownership position valued at about $73.4 million.
• Insider activity shows VP James Poppens sold 10,000 shares at an average $29.42 (part of 25,650 shares insiders sold in the last three months), with insiders holding about 2.6% of the company.
• Interface reported an EPS beat of $0.49 vs. $0.40 consensus while revenue was roughly in line, raised its quarterly dividend to $0.03 (annualized $0.12, ~0.5% yield), and carries a consensus analyst target of $36 ("Moderate Buy").

Congress Asset Management Co. increased its position in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,629,174 shares of the textile maker's stock after purchasing an additional 84,793 shares during the quarter. Congress Asset Management Co. owned 4.50% of Interface worth $73,407,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. TD Private Client Wealth LLC purchased a new position in shares of Interface in the third quarter valued at $32,000. Blue Trust Inc. acquired a new position in shares of Interface during the 3rd quarter worth $34,000. Larson Financial Group LLC boosted its position in shares of Interface by 114.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker's stock worth $34,000 after buying an additional 628 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in Interface in the 2nd quarter valued at about $35,000. Finally, Wexford Capital LP acquired a new stake in Interface in the 3rd quarter valued at about $43,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Interface news, VP James Poppens sold 10,000 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $29.42, for a total transaction of $294,200.00. Following the transaction, the vice president owned 119,496 shares of the company's stock, valued at $3,515,572.32. This represents a 7.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last three months, insiders sold 25,650 shares of company stock valued at $736,292. Insiders own 2.60% of the company's stock.

Analyst Ratings Changes

TILE has been the subject of a number of research reports. Barrington Research lifted their target price on shares of Interface from $32.00 to $36.00 and gave the stock an "outperform" rating in a research report on Friday, January 23rd. Weiss Ratings upgraded shares of Interface from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday. Zacks Research cut shares of Interface from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 30th. Finally, Wall Street Zen downgraded Interface from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 17th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Interface has an average rating of "Moderate Buy" and a consensus target price of $36.00.

Interface Price Performance

NASDAQ:TILE opened at $25.69 on Tuesday. Interface, Inc. has a 12-month low of $17.24 and a 12-month high of $35.11. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 0.80 and a beta of 1.87. The company's 50-day moving average is $30.69 and its two-hundred day moving average is $28.77. The company has a current ratio of 2.34, a quick ratio of 1.18 and a debt-to-equity ratio of 0.27.

Interface (NASDAQ:TILE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The textile maker reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.09. The business had revenue of $349.39 million during the quarter, compared to the consensus estimate of $350.54 million. Interface had a net margin of 8.37% and a return on equity of 19.54%. The company's quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 earnings per share. Research analysts expect that Interface, Inc. will post 1.37 EPS for the current year.

Interface Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be issued a $0.03 dividend. This is a boost from Interface's previous quarterly dividend of $0.02. The ex-dividend date is Friday, March 27th. This represents a $0.12 annualized dividend and a yield of 0.5%. Interface's payout ratio is presently 4.08%.

About Interface

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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