GSA Capital Partners LLP Invests $674,000 in Interface, Inc. (NASDAQ:TILE)

Key Points

• GSA Capital Partners LLP has acquired a new stake in Interface, Inc., purchasing 33,974 shares valued at approximately $674,000, representing about 0.06% of the company's stock.
• A number of analysts have raised their ratings for Interface, with Barrington Research increasing its price target from $30.00 to $32.00 and upgrading the stock to "outperform."
• Interface recently reported quarterly earnings of $0.60 EPS, exceeding analyst expectations, and recorded revenues of $375.52 million, an increase of 8.3% year-over-year.

GSA Capital Partners LLP purchased a new position in shares of Interface, Inc. (NASDAQ:TILE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 33,974 shares of the textile maker's stock, valued at approximately $674,000. GSA Capital Partners LLP owned about 0.06% of Interface as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Huntington National Bank acquired a new position in shares of Interface during the 4th quarter worth $28,000. Virtus Fund Advisers LLC bought a new position in shares of Interface during the 4th quarter valued at approximately $48,000. Versant Capital Management Inc lifted its position in shares of Interface by 49.6% during the 1st quarter. Versant Capital Management Inc now owns 2,458 shares of the textile maker's stock valued at $49,000 after buying an additional 815 shares during the last quarter. National Bank of Canada FI boosted its position in Interface by 13.3% during the fourth quarter. National Bank of Canada FI now owns 3,850 shares of the textile maker's stock worth $94,000 after purchasing an additional 451 shares during the period. Finally, Scotia Capital Inc. purchased a new position in shares of Interface in the fourth quarter valued at $204,000. Institutional investors and hedge funds own 98.34% of the company's stock.

Interface Stock Performance

Interface stock traded down $0.95 during mid-day trading on Thursday, reaching $24.76. 122,615 shares of the stock traded hands, compared to its average volume of 457,026. The stock has a market capitalization of $1.45 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 1.00 and a beta of 2.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.88 and a quick ratio of 1.59. The business's 50-day moving average is $21.09 and its 200-day moving average is $20.71. Interface, Inc. has a 12-month low of $16.20 and a 12-month high of $27.34.

Interface (NASDAQ:TILE - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The textile maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.13. The business had revenue of $375.52 million for the quarter, compared to analysts' expectations 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 quarter last year, the company posted $0.40 EPS. As a group, sell-side analysts predict that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Friday, May 30th. Interface's dividend payout ratio (DPR) is presently 2.47%.

Insider Buying and Selling at Interface

In other news, VP James Poppens sold 19,474 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $20.14, for a total value of $392,206.36. Following the completion of the transaction, the vice president owned 130,142 shares of the company's stock, valued at $2,621,059.88. This represents a 13.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Barrington Research lifted their price target on Interface from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Wall Street Zen upgraded shares of Interface from a "hold" rating to a "buy" rating in a report on Saturday, May 10th.

About Interface

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.