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

Congress Asset Management Co. bought a new position in shares of Interface, Inc. (NASDAQ:TILE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,266,579 shares of the textile maker's stock, valued at approximately $44,969,000. Congress Asset Management Co. owned about 3.89% of Interface as of its most recent SEC filing.

Several other large investors have also bought and sold shares of TILE. Venturi Wealth Management LLC lifted its holdings in Interface by 204.4% in the fourth quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker's stock valued at $27,000 after buying an additional 750 shares during the period. Huntington National Bank bought a new position in shares of Interface in the 4th quarter worth about $28,000. Smartleaf Asset Management LLC lifted 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 during the period. Principal Securities Inc. grew its stake in Interface by 103.1% during the fourth quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker's stock worth $36,000 after purchasing an additional 741 shares during the period. Finally, Virtus Fund Advisers LLC bought a new stake in Interface in the fourth quarter worth approximately $48,000. 98.34% of the stock is owned by institutional investors.

Insider Activity

In other Interface news, VP James Poppens sold 19,474 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $20.14, for a total transaction of $392,206.36. Following the completion of the sale, the vice president now directly owns 130,142 shares in the company, valued at approximately $2,621,059.88. This trade represents a 13.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company's stock.

Interface Price Performance

Shares of TILE traded up $0.17 during mid-day trading on Wednesday, reaching $21.12. 261,753 shares of the stock traded hands, compared to its average volume of 501,545. Interface, Inc. has a 1 year low of $14.13 and a 1 year high of $27.34. The firm has a fifty day moving average price of $19.53 and a 200 day moving average price of $21.77. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 0.96 and a beta of 1.98.

Interface (NASDAQ:TILE - Get Free Report) last issued its earnings results 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 net margin of 6.49% and a return on equity of 19.91%. The firm had revenue of $297.41 million for the quarter, compared to analysts' expectations of $297.11 million. During the same quarter last year, the business earned $0.24 earnings per share. The business's revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts predict that Interface, Inc. will post 1.37 earnings per share for the current 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 paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.19%. Interface's dividend payout ratio is currently 2.76%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TILE shares. Barrington Research restated an "outperform" rating and set a $30.00 price target on shares of Interface in a report on Friday, May 2nd. Wall Street Zen upgraded Interface from a "hold" rating to a "buy" rating in a report on Saturday, May 10th.

Interface 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.