Cubist Systematic Strategies LLC Acquires 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 boosted its holdings in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 486.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 143,983 shares of the textile maker's stock after buying an additional 119,428 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.25% of Interface worth $2,857,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Virtus Fund Advisers LLC purchased a new position in shares of Interface during the 4th quarter worth $48,000. Versant Capital Management Inc increased its stake in shares of Interface by 49.6% in the 1st quarter. Versant Capital Management Inc now owns 2,458 shares of the textile maker's stock worth $49,000 after purchasing an additional 815 shares in the last quarter. Virtus Advisers LLC purchased a new stake in shares of Interface in the 1st quarter worth $57,000. Bayesian Capital Management LP purchased a new stake in shares of Interface in the 4th quarter worth $217,000. Finally, PharVision Advisers LLC purchased a new stake in shares of Interface in the 4th quarter worth $223,000. 98.34% of the stock is currently owned by institutional investors.

Interface Price Performance

TILE traded down $1.09 during trading on Tuesday, hitting $27.04. 353,239 shares of the company traded hands, compared to its average volume of 447,787. The company has a market cap of $1.58 billion, a PE ratio of 16.69, a P/E/G ratio of 1.11 and a beta of 2.11. The stock's 50-day simple moving average is $24.16 and its two-hundred day simple moving average is $21.25. Interface, Inc. has a 1 year low of $17.24 and a 1 year high of $28.32. 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. Interface had a net margin of 7.08% and a return on equity of 18.97%. The business had revenue of $375.52 million during the quarter, compared to the consensus estimate of $360.57 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The business's revenue was up 8.3% on a year-over-year basis. Interface has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, August 29th. Interface's dividend payout ratio is 4.94%.

Insider Buying and Selling at Interface

In other Interface news, VP James Poppens sold 5,000 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $26.14, for a total transaction of $130,700.00. Following the completion of the transaction, the vice president owned 124,616 shares of the company's stock, valued at $3,257,462.24. This represents a 3.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stansfield Nigel sold 79,497 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $25.60, for a total transaction of $2,035,123.20. Following the transaction, the vice president directly owned 65,125 shares of the company's stock, valued at $1,667,200. This trade represents a 54.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,497 shares of company stock valued at $2,839,573 in the last 90 days. Insiders own 2.30% of the company's stock.

Analysts Set New Price Targets

TILE has been the subject of several analyst reports. Wall Street Zen upgraded Interface from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Barrington Research restated an "outperform" rating and issued a $32.00 price objective on shares of Interface in a research note on Friday, August 29th. One research 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 target price 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.