Interface, Inc. $TILE Shares Bought by AlphaQuest LLC

Key Points

• AlphaQuest LLC boosted its stake in Interface by 304.9% in the fourth quarter, while several other hedge funds also increased holdings. Institutional investors now own 98.34% of the company’s stock.
• Interface reported better-than-expected quarterly results, posting EPS of $0.41 versus estimates of $0.33 and revenue of $331.04 million versus $320.38 million expected. Revenue rose 11.3% year over year.
• Analysts remain generally bullish on the stock, with a Moderate Buy consensus and an average price target of $36.00. The company also announced a quarterly dividend of $0.03 per share, payable June 18.

AlphaQuest LLC raised its holdings in Interface, Inc. (NASDAQ:TILE - Free Report) by 304.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,080 shares of the textile maker's stock after acquiring an additional 37,712 shares during the quarter. AlphaQuest LLC owned 0.09% of Interface worth $1,398,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in TILE. Congress Asset Management Co. increased its position in Interface by 3.3% during the 4th quarter. Congress Asset Management Co. now owns 2,629,174 shares of the textile maker's stock worth $73,407,000 after purchasing an additional 84,793 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Interface by 5.5% in the 3rd quarter. American Century Companies Inc. now owns 2,412,549 shares of the textile maker's stock valued at $69,819,000 after purchasing an additional 126,263 shares in the last quarter. LSV Asset Management lifted its stake in shares of Interface by 2.5% in the 4th quarter. LSV Asset Management now owns 843,629 shares of the textile maker's stock valued at $23,554,000 after purchasing an additional 20,300 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Interface by 5.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker's stock valued at $14,854,000 after purchasing an additional 42,011 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in Interface by 2.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 646,357 shares of the textile maker's stock worth $18,706,000 after acquiring an additional 13,095 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company's stock.

Insiders Place Their Bets

In other news, VP David B. Foshee sold 44,393 shares of the company's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $29.00, for a total value of $1,287,397.00. Following the completion of the sale, the vice president owned 175,014 shares in the company, valued at $5,075,406. This represents a 20.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP James Poppens sold 10,000 shares of the company's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $29.42, for a total value of $294,200.00. Following the sale, the vice president directly owned 119,496 shares of the company's stock, valued at approximately $3,515,572.32. This represents a 7.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 70,043 shares of company stock valued at $2,023,689. 2.47% of the stock is owned by company insiders.

Interface Price Performance

Shares of TILE opened at $29.70 on Thursday. The company has a market cap of $1.72 billion, a P/E ratio of 13.88, a PEG ratio of 0.93 and a beta of 1.92. The stock has a fifty day moving average price of $27.17 and a 200 day moving average price of $28.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.43 and a quick ratio of 1.16. Interface, Inc. has a 12 month low of $19.66 and a 12 month high of $35.11.

Interface (NASDAQ:TILE - Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The textile maker reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.08. The firm had revenue of $331.04 million during the quarter, compared to the consensus estimate of $320.38 million. Interface had a return on equity of 20.09% and a net margin of 8.92%.The firm's revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 EPS. On average, research analysts forecast that Interface, Inc. will post 2.11 earnings per share for the current year.

Interface Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, June 5th. Interface's dividend payout ratio is presently 5.61%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Benchmark assumed coverage on Interface in a research report on Tuesday, May 19th. They issued a "buy" rating and a $36.00 target price on the stock. Barrington Research reaffirmed an "outperform" rating and issued a $36.00 target price on shares of Interface in a research report on Friday, April 17th. Wall Street Zen upgraded Interface from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 16th. Finally, Weiss Ratings upgraded Interface from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, March 20th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.00.

About Interface

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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