Empowered Funds LLC Takes $3.37 Million Position in Interface, Inc. $TILE

Key Points

• Empowered Funds LLC acquired 93,960 shares of Interface, valued at approximately $3.37 million, giving it a 0.16% stake. Institutional investors collectively own 98.34% of the company.
• Analysts remain broadly positive, with Interface receiving an average “Buy” rating and a consensus price target of $40.50. Recent upgrades included a Barrington Research target increase to $45 and a Zacks upgrade to “Strong Buy.”
• Interface exceeded quarterly expectations, reporting $0.88 in EPS versus the $0.64 consensus and revenue of $395.7 million, up 5.4% year over year. The company also declared a quarterly dividend of $0.03 per share, representing a 0.3% yield.

Empowered Funds LLC bought a new position in Interface, Inc. (NASDAQ:TILE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 93,960 shares of the textile maker's stock, valued at approximately $3,368,000. Empowered Funds LLC owned about 0.16% of Interface as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. CIBC Private Wealth Group LLC boosted its position in Interface by 180.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker's stock valued at $27,000 after buying an additional 631 shares in the last quarter. Larson Financial Group LLC grew its stake in Interface by 114.6% during the third quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker's stock worth $34,000 after buying an additional 628 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of Interface during the second quarter worth approximately $35,000. Allworth Financial LP acquired a new stake in shares of Interface during the second quarter worth approximately $36,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Interface in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 98.34% of the company's stock.

Analyst Upgrades and Downgrades

TILE has been the topic of several recent analyst reports. Weiss Ratings raised Interface from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 12th. Barrington Research raised their price target on Interface from $36.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, August 10th. Zacks Research upgraded Interface from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 26th. Benchmark assumed coverage on Interface in a research note on Tuesday, May 19th. They issued a "buy" rating and a $36.00 price objective on the stock. Finally, Wall Street Zen cut Interface from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat.com, Interface has an average rating of "Buy" and an average price target of $40.50.

Insider Buying and Selling

In other news, CEO Laurel Hurd sold 7,000 shares of Interface stock in a transaction on Monday, August 24th. The stock was sold at an average price of $39.09, for a total value of $273,630.00. Following the completion of the sale, the chief executive officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.47% of the company's stock.

Interface Trading Down 2.4%

Shares of NASDAQ TILE opened at $37.00 on Wednesday. Interface, Inc. has a 1-year low of $24.40 and a 1-year high of $40.50. The company has a 50-day moving average of $35.61 and a two-hundred day moving average of $31.17. The company has a market cap of $2.15 billion, a PE ratio of 14.98, a P/E/G ratio of 1.07 and a beta of 1.92. The company has a current ratio of 2.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.29.

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

Interface Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, September 4th. Interface's dividend payout ratio (DPR) is presently 4.86%.

About Interface

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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