Congress Asset Management Co. Makes New $44.97 Million Investment in Interface, Inc. (NASDAQ:TILE)

Congress Asset Management Co. purchased a new stake in Interface, Inc. (NASDAQ:TILE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,266,579 shares of the textile maker's stock, valued at approximately $44,969,000. Congress Asset Management Co. owned approximately 3.89% of Interface as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TILE. Venturi Wealth Management LLC increased its stake in shares of Interface by 204.4% in the 4th quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker's stock valued at $27,000 after purchasing an additional 750 shares in the last quarter. Huntington National Bank purchased a new position in shares of Interface in the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC increased its stake in shares of Interface by 78.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker's stock valued at $30,000 after purchasing an additional 546 shares in the last quarter. Principal Securities Inc. increased its stake in shares of Interface by 103.1% in the 4th quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker's stock valued at $36,000 after purchasing an additional 741 shares in the last quarter. Finally, Virtus Fund Advisers LLC purchased a new position in shares of Interface in the 4th quarter valued at about $48,000. Hedge funds and other institutional investors own 98.34% of the company's stock.

Insider Transactions at Interface

In related news, VP James Poppens sold 19,474 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $20.14, for a total value of $392,206.36. Following the transaction, the vice president now directly owns 130,142 shares in the company, valued at approximately $2,621,059.88. This represents a 13.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TILE. Wall Street Zen upgraded Interface from a "hold" rating to a "buy" rating in a research note on Saturday, May 10th. Barrington Research restated an "outperform" rating and issued a $30.00 price target on shares of Interface in a research note on Friday, May 2nd.

Interface Price Performance

TILE stock traded up $0.06 during trading on Friday, hitting $20.14. The stock had a trading volume of 273,841 shares, compared to its average volume of 503,450. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. Interface, Inc. has a twelve month low of $14.13 and a twelve month high of $27.34. The stock has a market capitalization of $1.18 billion, a P/E ratio of 14.08, a PEG ratio of 0.96 and a beta of 1.98. The company's 50-day moving average price is $19.48 and its two-hundred day moving average price is $21.83.

Interface (NASDAQ:TILE - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The textile maker reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. Interface had a return on equity of 19.91% and a net margin of 6.49%. The company had revenue of $297.41 million for the quarter, compared to analysts' expectations of $297.11 million. During the same period in the previous year, the firm posted $0.24 EPS. Interface's revenue was up 2.7% compared to the same quarter last year. As a group, research analysts predict that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Friday, May 30th. Interface's dividend payout ratio is currently 2.76%.

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.