Congress Asset Management Co. Increases Position in Interface, Inc. $TILE

Key Points

• Congress Asset Management Co. has increased its stake in Interface, Inc. (NASDAQ:TILE) by 9.1%, now owning approximately 4.22% of the company's shares valued at $51.77 million.
• Interface reported $0.60 earnings per share for the last quarter, exceeding estimates, with revenues of $375.52 million, marking an 8.3% increase compared to the previous year.
• Institutional investors now hold 98.34% of Interface's stock, with several firms making significant adjustments to their positions recently, including Vanguard Group and American Century Companies.

Congress Asset Management Co. increased its stake in Interface, Inc. (NASDAQ:TILE - Free Report) by 9.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,473,541 shares of the textile maker's stock after purchasing an additional 206,962 shares during the quarter. Congress Asset Management Co. owned approximately 4.22% of Interface worth $51,771,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TILE. Vanguard Group Inc. boosted its position in Interface by 0.7% during the first quarter. Vanguard Group Inc. now owns 6,159,773 shares of the textile maker's stock valued at $122,210,000 after buying an additional 43,309 shares during the period. American Century Companies Inc. lifted its holdings in shares of Interface by 11.1% during the first quarter. American Century Companies Inc. now owns 2,214,325 shares of the textile maker's stock valued at $43,932,000 after purchasing an additional 222,029 shares during the last quarter. GW&K Investment Management LLC lifted its holdings in shares of Interface by 15.0% during the first quarter. GW&K Investment Management LLC now owns 1,183,961 shares of the textile maker's stock valued at $23,490,000 after purchasing an additional 154,872 shares during the last quarter. Nuveen LLC bought a new stake in shares of Interface during the first quarter valued at approximately $15,505,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Interface by 5.9% during the first quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker's stock valued at $14,854,000 after acquiring an additional 42,011 shares in the last quarter. Institutional investors own 98.34% of the company's stock.

Interface Price Performance

Shares of TILE stock opened at $28.39 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.88 and a quick ratio of 1.59. The company has a market capitalization of $1.66 billion, a P/E ratio of 17.52, a P/E/G ratio of 1.11 and a beta of 2.11. The company's 50-day simple moving average is $26.09 and its two-hundred day simple moving average is $22.11. Interface, Inc. has a one year low of $17.24 and a one year high of $30.20.

Interface (NASDAQ:TILE - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The textile maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.13. Interface had a net margin of 7.08% and a return on equity of 18.97%. The firm had revenue of $375.52 million during the quarter, compared to analysts' expectations of $360.57 million. During the same quarter in the prior year, the company earned $0.40 EPS. The company'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, equities analysts anticipate that Interface, Inc. will post 1.37 EPS for the current year.

Interface Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were paid a $0.02 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.3%. Interface's dividend payout ratio is presently 4.94%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wall Street Zen raised shares of Interface from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Barrington Research restated an "outperform" rating and set a $32.00 target price on shares of Interface in a research note on Friday, August 29th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Interface has an average rating of "Buy" and an average target price of $32.00.

Insider Transactions at Interface

In other news, VP Stansfield Nigel sold 79,497 shares of Interface stock in a transaction dated 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 sale, the vice president owned 65,125 shares in the company, valued at $1,667,200. This trade represents a 54.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Bruce Andrew Hausmann sold 25,000 shares of Interface stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $26.95, for a total transaction of $673,750.00. Following the completion of the sale, the chief financial officer owned 145,403 shares in the company, valued at approximately $3,918,610.85. This trade represents a 14.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,497 shares of company stock worth $2,839,573 over the last 90 days. 2.30% of the stock is currently owned by company insiders.

Interface Company 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.

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