Clark Capital Management Group Inc. Acquires 49,528 Shares of Interface, Inc. $TILE

Key Points

• Clark Capital Management Group Inc. increased its stake in Interface, Inc. by 17.4%, acquiring an additional 49,528 shares worth approximately $6.64 million, indicating strong institutional interest in the company.
• Interface reported a quarterly earnings per share of $0.60, exceeding analysts' expectations and showing an 8.3% revenue growth compared to the previous year.
• The company declared a quarterly dividend of $0.02 per share, with an annualized yield of 0.3%, reflecting a low payout ratio of 4.94%.

Clark Capital Management Group Inc. grew its holdings in Interface, Inc. (NASDAQ:TILE - Free Report) by 17.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 334,543 shares of the textile maker's stock after purchasing an additional 49,528 shares during the period. Clark Capital Management Group Inc. owned about 0.57% of Interface worth $6,637,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Virtus Fund Advisers LLC bought a new position in shares of Interface in the fourth quarter valued at $48,000. Versant Capital Management Inc grew its stake in shares of Interface by 49.6% in the first quarter. Versant Capital Management Inc now owns 2,458 shares of the textile maker's stock valued at $49,000 after buying an additional 815 shares in the last quarter. Virtus Advisers LLC bought a new position in shares of Interface in the first quarter valued at $57,000. Bayesian Capital Management LP bought a new position in shares of Interface in the fourth quarter valued at $217,000. Finally, PharVision Advisers LLC bought a new position in Interface during the fourth quarter worth $223,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Interface Price Performance

Shares of TILE stock traded up $0.43 on Wednesday, reaching $27.47. The company had a trading volume of 94,790 shares, compared to its average volume of 445,583. The stock has a market capitalization of $1.60 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 1.10 and a beta of 2.11. The company has a quick ratio of 1.59, a current ratio of 2.88 and a debt-to-equity ratio of 0.53. Interface, Inc. has a one year low of $17.24 and a one year high of $28.32. The business's 50-day moving average is $24.16 and its 200 day moving average is $21.25.

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

Interface Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.08 annualized dividend and a dividend yield of 0.3%. Interface's dividend payout ratio (DPR) is 4.94%.

Insider Transactions at Interface

In other news, CFO Bruce Andrew Hausmann sold 25,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer owned 145,403 shares of the company's stock, valued at $3,918,610.85. This trade represents a 14.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP James Poppens sold 5,000 shares of Interface stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $26.14, for a total transaction of $130,700.00. Following the completion of the sale, the vice president directly 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. Insiders sold a total of 109,497 shares of company stock valued at $2,839,573 in the last quarter. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barrington Research reaffirmed an "outperform" rating and set a $32.00 price objective on shares of Interface in a research report on Friday, August 29th. 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 investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $32.00.

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.