33,974 Shares in Interface, Inc. (NASDAQ:TILE) Purchased by GSA Capital Partners LLP

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 bought a new position in Interface, Inc. (NASDAQ:TILE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 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 filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in Interface by 56.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 14,649 shares of the textile maker's stock worth $291,000 after buying an additional 5,299 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Interface by 277.1% in the first quarter. Envestnet Asset Management Inc. now owns 97,270 shares of the textile maker's stock worth $1,930,000 after acquiring an additional 71,476 shares during the period. North Star Investment Management Corp. grew its stake in shares of Interface by 9.9% in the first quarter. North Star Investment Management Corp. now owns 166,075 shares of the textile maker's stock worth $3,295,000 after acquiring an additional 15,000 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of Interface in the first quarter worth approximately $304,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Interface in the fourth quarter worth approximately $2,498,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Interface Stock Up 0.8%

Shares of NASDAQ:TILE traded up $0.21 during trading on Tuesday, reaching $25.46. The stock had a trading volume of 452,470 shares, compared to its average volume of 390,911. Interface, Inc. has a one year low of $15.93 and a one year high of $27.34. The company has a market capitalization of $1.49 billion, a P/E ratio of 15.72, a PEG ratio of 0.99 and a beta of 2.00. The company has a current ratio of 2.88, a quick ratio of 1.59 and a debt-to-equity ratio of 0.53. The firm's 50-day simple moving average is $20.99 and its 200 day simple moving average is $20.68.

Interface (NASDAQ:TILE - Get Free Report) last posted its earnings results on Friday, August 1st. The textile maker reported $0.60 earnings per share 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 firm had revenue of $375.52 million during the quarter, compared to analyst estimates of $360.57 million. During the same period in the previous year, the firm earned $0.40 EPS. The business's quarterly revenue was up 8.3% on a year-over-year basis. As a group, research analysts expect that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Interface's dividend payout ratio is presently 2.47%.

Insider Buying and Selling

In other Interface news, VP James Poppens sold 19,474 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $20.14, for a total transaction of $392,206.36. Following the sale, the vice president directly owned 130,142 shares in the company, valued at $2,621,059.88. This represents a 13.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TILE shares. Wall Street Zen upgraded shares of Interface from a "hold" rating to a "buy" rating in a research report on Saturday, May 10th. Barrington Research increased their price objective on shares of Interface from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Friday.

Interface 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.