Copeland Capital Management LLC Sells 355,993 Shares of Interface, Inc. $TILE

Key Points

• Copeland Capital Management cut its Interface stake by 28.8%, selling 355,993 shares during the third quarter and retaining 879,117 shares worth approximately $30.2 million. Institutional investors collectively own 98.34% of TILE.
• Analyst sentiment remains favorable, with three Buy ratings and one Hold rating producing a consensus “Moderate Buy” rating and an average price target of $40.50.
• Interface reported quarterly earnings of $0.88 per share, beating estimates of $0.64, while revenue rose 5.4% year over year to $395.7 million. The company also pays a quarterly dividend of $0.03 per share.

Copeland Capital Management LLC lowered its holdings in Interface, Inc. (NASDAQ:TILE - Free Report) by 28.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 879,117 shares of the textile maker's stock after selling 355,993 shares during the quarter. Copeland Capital Management LLC owned 1.51% of Interface worth $30,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TILE. Farther Finance Advisors LLC lifted its position in Interface by 39.1% during the third quarter. Farther Finance Advisors LLC now owns 1,271 shares of the textile maker's stock valued at $44,000 after purchasing an additional 357 shares during the period. HB Wealth Management LLC boosted its holdings in Interface by 1.0% in the second quarter. HB Wealth Management LLC now owns 40,804 shares of the textile maker's stock worth $1,462,000 after purchasing an additional 418 shares during the last quarter. Hillsdale Investment Management Inc. boosted its holdings in Interface by 0.3% in the first quarter. Hillsdale Investment Management Inc. now owns 309,013 shares of the textile maker's stock worth $7,701,000 after purchasing an additional 800 shares during the last quarter. Arjuna Capital grew its position in Interface by 4.1% in the 1st quarter. Arjuna Capital now owns 23,577 shares of the textile maker's stock worth $588,000 after purchasing an additional 927 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Interface by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,472 shares of the textile maker's stock worth $62,000 after purchasing an additional 934 shares during the period. 98.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TILE shares. Weiss Ratings upgraded shares of Interface from a "buy (b)" rating to a "buy (b+)" rating in a research note on Monday. Wall Street Zen downgraded Interface from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 15th. Zacks Research lowered Interface from a "strong-buy" rating to a "hold" rating in a report on Friday, October 9th. Finally, Barrington Research upped their price objective on Interface from $36.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Three 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 presently has a consensus rating of "Moderate Buy" and an average price target of $40.50.

Insider Buying and Selling

In other news, Director Daniel Hendrix sold 8,000 shares of the company's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $37.13, for a total value of $297,040.00. Following the completion of the transaction, the director owned 88,147 shares of the company's stock, valued at $3,272,898.11. This represents a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Laurel Hurd sold 7,000 shares of Interface stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $39.09, for a total value of $273,630.00. Following the sale, the chief executive officer directly owned 506,978 shares in the company, valued at $19,817,770.02. This trade represents a 1.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 54,621 shares of company stock valued at $1,982,404. Company insiders own 2.47% of the company's stock.

Interface Stock Up 1.2%

TILE opened at $35.64 on Wednesday. Interface, Inc. has a 1-year low of $24.40 and a 1-year high of $40.50. The firm's 50 day simple moving average is $36.25 and its two-hundred day simple moving average is $32.37. The company has a current ratio of 2.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $2.07 billion, a PE ratio of 14.73, a PEG ratio of 0.99 and a beta of 1.99.

Interface (NASDAQ:TILE - Get Free Report) last released its earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.24. Interface had a return on equity of 21.77% and a net margin of 10.10%. The company had revenue of $395.70 million for the quarter, compared to the consensus estimate of $391.22 million. During the same period in the previous year, the business earned $0.60 earnings per share. Interface's quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts forecast that Interface, Inc. will post 2.36 EPS for the current year.

Interface Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were issued a $0.03 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.12 annualized dividend and a yield of 0.3%. Interface's dividend payout ratio is currently 4.86%.

Interface Company Profile

Interface, Inc is a global flooring company that designs and manufactures modular carpet tile, broadloom carpet, and resilient flooring products. Its offerings are used in commercial, institutional, hospitality, healthcare, education, retail, and residential environments, with products marketed under the Interface and FLOR brands.

Founded in 1973, Interface became known for popularizing modular carpet in commercial interiors. The company has also developed a sustainability-focused approach to flooring, emphasizing recycled and bio-based materials, product transparency, circular design, and efforts to reduce the carbon impact of its products and operations.

Interface serves customers through sales and distribution operations across North America, Europe, Asia-Pacific, and other international markets.

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