Edgestream Partners L.P. Makes New Investment in Interface, Inc. $TILE

Key Points

• Edgestream Partners L.P. acquired 130,688 shares of Interface, valued at approximately $3.26 million, giving it a 0.23% stake. Institutional investors collectively own 98.34% of the company.
• Interface reported quarterly earnings of $0.41 per share, beating estimates by $0.08, while revenue rose 11.3% year over year to $331.04 million. Analysts expect full-year EPS of $2.11.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a $36 price target. However, two executives recently sold shares, reducing their holdings by roughly 20% and 30%, respectively.

Edgestream Partners L.P. bought a new position in shares of Interface, Inc. (NASDAQ:TILE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 130,688 shares of the textile maker's stock, valued at approximately $3,257,000. Edgestream Partners L.P. owned 0.23% of Interface as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CIBC Private Wealth Group LLC grew its stake in Interface by 180.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker's stock worth $27,000 after purchasing an additional 631 shares in the last quarter. Larson Financial Group LLC raised its position in Interface by 114.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker's stock valued at $34,000 after purchasing an additional 628 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of Interface in the 2nd quarter worth $35,000. Wexford Capital LP purchased a new stake in shares of Interface in the 3rd quarter worth $43,000. Finally, Blue Trust Inc. grew its position in shares of Interface by 88.3% during the 4th quarter. Blue Trust Inc. now owns 2,199 shares of the textile maker's stock worth $61,000 after buying an additional 1,031 shares in the last quarter. Institutional investors own 98.34% of the company's stock.

Insiders Place Their Bets

In related news, VP David B. Foshee sold 44,393 shares of the company's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $29.00, for a total value of $1,287,397.00. Following the transaction, the vice president directly owned 175,014 shares of the company's stock, valued at $5,075,406. This represents a 20.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Bruce Andrew Hausmann sold 50,000 shares of the firm's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.66, for a total value of $1,483,000.00. Following the completion of the transaction, the chief financial officer owned 119,256 shares of the company's stock, valued at $3,537,132.96. This trade represents a 29.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TILE has been the topic of several research reports. Zacks Research lowered Interface from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 28th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Interface in a research note on Wednesday, June 17th. Benchmark began coverage on shares of Interface in a report on Tuesday, May 19th. They set a "buy" rating and a $36.00 target price on the stock. Wall Street Zen upgraded shares of Interface from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 16th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $36.00 price target on shares of Interface in a research report on Friday, April 17th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $36.00.

Interface Stock Performance

Shares of Interface stock opened at $34.26 on Friday. The company has a 50 day moving average price of $32.46 and a 200 day moving average price of $30.28. The firm has a market capitalization of $1.99 billion, a P/E ratio of 16.01, a PEG ratio of 1.08 and a beta of 1.88. The company has a quick ratio of 1.16, a current ratio of 2.43 and a debt-to-equity ratio of 0.30. Interface, Inc. has a 52 week low of $20.37 and a 52 week high of $36.66.

Interface (NASDAQ:TILE - Get Free Report) last released its earnings results on Friday, May 8th. The textile maker reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.08. Interface had a net margin of 8.92% and a return on equity of 20.09%. The company had revenue of $331.04 million for the quarter, compared to the consensus estimate of $320.38 million. During the same quarter in the previous year, the firm earned $0.25 EPS. Interface's revenue was up 11.3% compared to the same quarter last year. Sell-side analysts expect that Interface, Inc. will post 2.11 EPS for the current year.

Interface Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. Interface's payout ratio is 5.61%.

Interface 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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