Cubist Systematic Strategies LLC Purchases 119,428 Shares of Interface, Inc. $TILE

Key Points

• Cubist Systematic Strategies LLC increased its holdings in Interface, Inc. by 486.4% in the 1st quarter, acquiring an additional 119,428 shares and owning about 0.25% of the company, valued at $2.86 million.
• Interface reported $0.60 EPS for the last quarter, exceeding the consensus estimate by $0.13, while revenue rose by 8.3% year-over-year to $375.52 million.
• The company announced a quarterly dividend of $0.02, representing an annualized yield of 0.3%, with the ex-dividend date set for August 29th.

Cubist Systematic Strategies LLC lifted its stake in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 486.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 143,983 shares of the textile maker's stock after buying an additional 119,428 shares during the period. Cubist Systematic Strategies LLC owned about 0.25% of Interface worth $2,857,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its holdings in Interface by 56.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,649 shares of the textile maker's stock worth $291,000 after acquiring an additional 5,299 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Interface by 277.1% during the first quarter. Envestnet Asset Management Inc. now owns 97,270 shares of the textile maker's stock valued at $1,930,000 after purchasing an additional 71,476 shares in the last quarter. XTX Topco Ltd purchased a new position in Interface during the first quarter worth about $303,000. North Star Investment Management Corp. grew its position in Interface by 9.9% in the 1st quarter. North Star Investment Management Corp. now owns 166,075 shares of the textile maker's stock worth $3,295,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Jupiter Asset Management Ltd. increased its stake in Interface by 28.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 343,102 shares of the textile maker's stock valued at $6,807,000 after buying an additional 76,103 shares during the last quarter. Institutional investors own 98.34% of the company's stock.

Insider Buying and Selling

In other Interface news, VP Stansfield Nigel sold 79,497 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $25.60, for a total transaction of $2,035,123.20. Following the sale, the vice president owned 65,125 shares in the company, valued at $1,667,200. This represents a 54.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP James Poppens sold 5,000 shares of Interface stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $26.14, for a total value of $130,700.00. Following the completion of the transaction, the vice president owned 124,616 shares of the company's stock, valued at approximately $3,257,462.24. This trade represents a 3.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,497 shares of company stock valued at $2,839,573. Company insiders own 2.30% of the company's stock.

Interface Stock Performance

Shares of TILE stock traded up $1.25 on Thursday, hitting $28.64. 585,235 shares of the stock were exchanged, compared to its average volume of 363,700. The firm's 50 day moving average is $24.41 and its two-hundred day moving average is $21.34. Interface, Inc. has a one year low of $17.24 and a one year high of $28.68. The firm has a market capitalization of $1.67 billion, a PE ratio of 17.68, a P/E/G ratio of 1.07 and a beta of 2.11. The company has a current ratio of 2.88, a quick ratio of 1.59 and a debt-to-equity ratio of 0.53.

Interface (NASDAQ:TILE - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The textile maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.47 by $0.13. The business had revenue of $375.52 million for the quarter, compared to the consensus estimate of $360.57 million. Interface had a net margin of 7.08% and a return on equity of 18.97%. The company's revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 earnings per share. Interface has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts expect that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.