Interface, Inc. (NASDAQ:TILE) Shares Bought by GW&K Investment Management LLC

GW&K Investment Management LLC grew its stake in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 15.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,183,961 shares of the textile maker's stock after acquiring an additional 154,872 shares during the period. GW&K Investment Management LLC owned about 2.03% of Interface worth $23,490,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Interface by 56.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,649 shares of the textile maker's stock valued at $291,000 after buying an additional 5,299 shares during the period. North Star Investment Management Corp. boosted its holdings in shares of Interface by 9.9% in the 1st quarter. North Star Investment Management Corp. now owns 166,075 shares of the textile maker's stock valued at $3,295,000 after buying an additional 15,000 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Interface in the 1st quarter valued at about $304,000. Raymond James Financial Inc. acquired a new position in shares of Interface in the 4th quarter valued at about $2,498,000. Finally, Virtus Fund Advisers LLC acquired a new position in shares of Interface in the 4th quarter valued at about $48,000. 98.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TILE has been the subject of several research reports. Barrington Research reaffirmed an "outperform" rating and issued a $30.00 price target on shares of Interface in a report on Tuesday. Wall Street Zen upgraded shares of Interface from a "hold" rating to a "buy" rating in a research report on Saturday, May 10th.

Interface Stock Performance

NASDAQ:TILE traded up $0.33 during mid-day trading on Tuesday, hitting $20.72. The stock had a trading volume of 352,022 shares, compared to its average volume of 494,687. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 0.86 and a beta of 1.97. The company has a 50 day simple moving average of $20.75 and a 200-day simple moving average of $20.84. Interface, Inc. has a 52 week low of $14.75 and a 52 week high of $27.34. The company has a current ratio of 2.76, a quick ratio of 1.42 and a debt-to-equity ratio of 0.59.

Interface (NASDAQ:TILE - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The textile maker reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.04. The firm had revenue of $297.41 million for the quarter, compared to the consensus estimate of $297.11 million. Interface had a net margin of 6.48% and a return on equity of 17.73%. Interface's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.24 EPS. On average, research analysts expect that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.19%. Interface's dividend payout ratio (DPR) is 2.76%.

Insider Activity at Interface

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 approximately $2,621,059.88. The trade was a 13.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.60% of the company's stock.

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.