Interface, Inc. $TILE Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Interface, Inc. by 16.6%, now holding approximately 1.74% of the company worth about $20 million.
• Interface recently posted earnings per share of $0.60, exceeding expectations, with revenues of $375.52 million, reflecting an 8.3% year-over-year increase.
• The company declared a $0.02 dividend to be paid on September 12th, with an ex-dividend date of August 29th, highlighting a low payout ratio of 2.47%.

Wellington Management Group LLP cut its holdings in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 16.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,012,505 shares of the textile maker's stock after selling 201,836 shares during the period. Wellington Management Group LLP owned approximately 1.74% of Interface worth $20,088,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TILE. Virtus Fund Advisers LLC acquired a new stake in Interface in the 4th quarter worth about $48,000. Versant Capital Management Inc lifted its stake in Interface by 49.6% in the 1st quarter. Versant Capital Management Inc now owns 2,458 shares of the textile maker's stock worth $49,000 after purchasing an additional 815 shares in the last quarter. Bayesian Capital Management LP purchased a new position in Interface in the 4th quarter worth approximately $217,000. PharVision Advisers LLC purchased a new position in Interface in the 4th quarter worth approximately $223,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Interface by 56.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,649 shares of the textile maker's stock worth $291,000 after purchasing an additional 5,299 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Interface Stock Down 0.1%

Shares of Interface stock traded down $0.02 during trading hours on Friday, reaching $26.72. 274,569 shares of the company were exchanged, compared to its average volume of 449,558. Interface, Inc. has a 1 year low of $17.24 and a 1 year high of $27.34. The stock's fifty day moving average is $23.14 and its 200 day moving average is $21.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.59 and a current ratio of 2.88. The firm has a market cap of $1.56 billion, a PE ratio of 16.49, a PEG ratio of 1.06 and a beta of 2.00.

Interface (NASDAQ:TILE - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The textile maker reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.13. Interface had a return on equity of 18.97% and a net margin of 7.08%.The business had revenue of $375.52 million for the quarter, compared to analyst estimates of $360.57 million. During the same quarter in the prior year, the company earned $0.40 earnings per share. The company's revenue was up 8.3% on a year-over-year basis. Interface has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts forecast that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, August 29th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.3%. Interface's payout ratio is presently 2.47%.

Insider Buying and Selling

In related news, CFO Bruce Andrew Hausmann sold 25,000 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $26.95, for a total transaction of $673,750.00. Following the completion of the transaction, the chief financial officer owned 145,403 shares in the company, valued at approximately $3,918,610.85. The trade was a 14.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP James Poppens sold 5,000 shares of the business's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $26.14, for a total transaction of $130,700.00. Following the transaction, the vice president owned 124,616 shares of the company's stock, valued at approximately $3,257,462.24. The trade was a 3.86% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 109,497 shares of company stock worth $2,839,573. Corporate insiders own 2.30% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on TILE. Barrington Research reissued an "outperform" rating and issued a $32.00 target price on shares of Interface in a research note on Friday. Wall Street Zen raised shares of Interface from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $32.00.

Interface Company 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.