Deutsche Bank AG Takes $2.35 Million Position in Interface, Inc. $TILE

Key Points

• Deutsche Bank acquired 65,482 shares of Interface, valued at approximately $2.35 million, giving it a 0.11% stake. Institutional investors and hedge funds collectively own 98.34% of the company.
• 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 stock was trading at $37.89, down 2.1%.
• Analysts maintain a “Moderate Buy” consensus with a $40.50 target price; the company also announced a quarterly dividend of $0.03 per share, representing a 0.3% yield.

Deutsche Bank AG acquired a new stake in Interface, Inc. (NASDAQ:TILE - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 65,482 shares of the textile maker's stock, valued at approximately $2,347,000. Deutsche Bank AG owned about 0.11% of Interface at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TILE. Perigon Wealth Management LLC acquired a new position in Interface in the 2nd quarter valued at approximately $325,000. Global Retirement Partners LLC acquired a new position in shares of Interface during the second quarter worth $106,000. Bank of New York Mellon Corp acquired a new position in shares of Interface during the second quarter worth $16,508,000. Summit Global Investments bought a new stake in shares of Interface in the second quarter worth $1,367,000. Finally, Wedge Capital Management L L P NC grew its stake in shares of Interface by 4.7% in the second quarter. Wedge Capital Management L L P NC now owns 54,401 shares of the textile maker's stock worth $1,950,000 after purchasing an additional 2,465 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Interface Trading Down 2.1%

NASDAQ:TILE opened at $37.89 on Friday. 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 stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 1.09 and a beta of 1.90. The firm has a fifty day simple moving average of $35.28 and a two-hundred day simple moving average of $31.10. Interface, Inc. has a 12 month low of $24.40 and a 12 month high of $40.50.

Interface (NASDAQ:TILE - Get Free Report) last announced its quarterly earnings data 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 net margin of 10.10% and a return on equity of 21.77%. The firm had revenue of $395.70 million for the quarter, compared to analyst estimates of $391.22 million. During the same quarter in the prior year, the business earned $0.60 earnings per share. The business's quarterly revenue was up 5.4% compared to the same quarter last year. Analysts expect that Interface, Inc. will post 2.36 EPS for the current fiscal year.

Interface Dividend Announcement

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

Wall Street Analysts Forecast Growth

TILE has been the subject of a number of recent research reports. Weiss Ratings upgraded Interface from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 12th. Barrington Research lifted their target price on Interface from $36.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Zacks Research lowered Interface from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 28th. Benchmark started coverage on Interface in a research note on Tuesday, May 19th. They issued a "buy" rating and a $36.00 price target for the company. Finally, Wall Street Zen downgraded Interface from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 15th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $40.50.

Insider Buying and Selling at Interface

In related news, CEO Laurel Hurd sold 7,000 shares of the firm's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $39.09, for a total value of $273,630.00. Following the transaction, the chief executive officer owned 506,978 shares of the company's stock, valued at approximately $19,817,770.02. This trade represents a 1.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.47% of the stock is owned by corporate insiders.

Interface Company Profile

Interface, Inc NASDAQ: TILE is a global manufacturer of modular flooring and resilient commercial flooring solutions. The company specializes in carpet tiles, luxury vinyl tile (LVT) and other environmentally responsible hard-surface products designed for use in corporate, education, healthcare, hospitality and retail environments. Interface's portfolio also includes broadloom carpet, rubber flooring and acoustic underlays, all engineered to meet performance, design and sustainability requirements in modern interior spaces.

Founded in 1973 by Ray C.

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