GW&K Investment Management LLC Purchases 111,564 Shares of Interface, Inc. $TILE

Key Points

• GW&K Investment Management increased its stake in Interface by 12.7% in the fourth quarter, buying 111,564 more shares and bringing its holding to 993,413 shares worth about $27.7 million.
• Interface reported better-than-expected quarterly results, posting EPS of $0.41 versus the $0.33 estimate and revenue of $331.0 million, up 11.3% year over year.
• The company declared a quarterly dividend of $0.03 per share, while analysts remain mostly positive with a consensus Moderate Buy rating and a $36 average price target.

GW&K Investment Management LLC lifted its position in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 12.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 993,413 shares of the textile maker's stock after purchasing an additional 111,564 shares during the period. GW&K Investment Management LLC owned 1.70% of Interface worth $27,736,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. ProShare Advisors LLC increased its stake in Interface by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 11,282 shares of the textile maker's stock worth $315,000 after acquiring an additional 349 shares during the period. Larson Financial Group LLC increased its stake in Interface by 30.8% during the 4th quarter. Larson Financial Group LLC now owns 1,538 shares of the textile maker's stock worth $43,000 after acquiring an additional 362 shares during the period. Los Angeles Capital Management LLC increased its stake in Interface by 0.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 58,483 shares of the textile maker's stock worth $1,560,000 after acquiring an additional 403 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Interface by 1.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 30,695 shares of the textile maker's stock worth $857,000 after acquiring an additional 452 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Interface by 2.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,953 shares of the textile maker's stock worth $722,000 after acquiring an additional 495 shares during the period. Institutional investors own 98.34% of the company's stock.

Interface Trading Down 3.0%

Shares of TILE opened at $30.40 on Thursday. Interface, Inc. has a 52-week low of $20.01 and a 52-week high of $35.11. The business's fifty day moving average is $28.07 and its 200-day moving average is $28.93. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.16 and a current ratio of 2.43. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 0.99 and a beta of 1.91.

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

Interface Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be paid a $0.03 dividend. The ex-dividend date is Friday, June 5th. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. Interface's dividend payout ratio (DPR) is presently 5.61%.

Insider Buying and Selling at Interface

In other news, CFO Bruce Andrew Hausmann sold 50,000 shares of Interface 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 transaction, the chief financial officer owned 119,256 shares in the company, valued at approximately $3,537,132.96. This trade represents a 29.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP David B. Foshee sold 44,393 shares of Interface stock in a transaction on Monday, May 18th. The shares were sold at an average price of $29.00, for a total value of $1,287,397.00. Following the completion of the transaction, the vice president owned 175,014 shares in the company, valued at approximately $5,075,406. The trade was a 20.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.47% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on TILE shares. Benchmark started coverage on Interface in a research note on Tuesday, May 19th. They set a "buy" rating and a $36.00 price objective on the stock. Wall Street Zen upgraded Interface from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. Barrington Research restated an "outperform" rating and set a $36.00 price objective on shares of Interface in a research note on Friday, April 17th. Finally, Weiss Ratings upgraded Interface from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, March 20th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $36.00.

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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