Interface, Inc. $TILE Shares Acquired by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Interface, Inc. by 62.6%, owning 23,821 shares valued at $499,000 at the end of the second quarter.
• Multiple research firms issued downgrades on Interface's stock, with Weiss Ratings lowering it from a "buy" to a "hold" rating, reflecting more cautious sentiment from analysts.
• Insider sales occurred, including a significant sale by VP Stansfield Nigel of 79,497 shares for over $2 million, indicating possible concerns about the company's stock performance.

Allspring Global Investments Holdings LLC boosted its position in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 62.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,821 shares of the textile maker's stock after purchasing an additional 9,172 shares during the period. Allspring Global Investments Holdings LLC's holdings in Interface were worth $499,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. RHS Financial LLC acquired a new stake in Interface during the 2nd quarter valued at $212,000. Inspire Investing LLC grew its holdings in Interface by 7.1% during the 2nd quarter. Inspire Investing LLC now owns 18,614 shares of the textile maker's stock valued at $390,000 after purchasing an additional 1,242 shares in the last quarter. IFP Advisors Inc grew its holdings in Interface by 2,695.2% during the 2nd quarter. IFP Advisors Inc now owns 1,174 shares of the textile maker's stock valued at $25,000 after purchasing an additional 1,132 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Interface by 7.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 34,865 shares of the textile maker's stock valued at $729,000 after purchasing an additional 2,559 shares in the last quarter. Finally, Congress Asset Management Co. grew its holdings in Interface by 9.1% during the 2nd quarter. Congress Asset Management Co. now owns 2,473,541 shares of the textile maker's stock valued at $51,771,000 after purchasing an additional 206,962 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on TILE. Weiss Ratings lowered shares of Interface from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Interface from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 18th. Barrington Research reissued an "outperform" rating and set a $32.00 price objective on shares of Interface in a report on Wednesday, October 15th. Finally, Zacks Research lowered shares of Interface from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 30th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $32.00.

Insider Activity at Interface

In related news, VP Stansfield Nigel sold 79,497 shares of Interface stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $25.60, for a total value of $2,035,123.20. Following the sale, the vice president directly owned 65,125 shares in the company, valued at $1,667,200. This trade represents a 54.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Bruce Andrew Hausmann sold 25,000 shares of Interface stock in a transaction dated 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 sale, the chief financial officer owned 145,403 shares in the company, valued at approximately $3,918,610.85. This represents a 14.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,497 shares of company stock worth $2,839,573 in the last ninety days. 2.30% of the stock is owned by insiders.

Interface Trading Up 0.3%

Interface stock opened at $28.12 on Friday. The firm's 50-day moving average is $27.72 and its 200-day moving average is $23.22. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.59 and a current ratio of 2.88. Interface, Inc. has a 1 year low of $17.24 and a 1 year high of $30.20. The company has a market cap of $1.64 billion, a P/E ratio of 17.36, a PEG ratio of 1.10 and a beta of 2.07.

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

Interface Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were given a $0.02 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.08 annualized dividend and a yield of 0.3%. Interface's dividend payout ratio (DPR) is currently 4.94%.

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.

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