Public Sector Pension Investment Board Raises Stock Holdings in Interface, Inc. $TILE

Key Points

• The Public Sector Pension Investment Board increased its stake in Interface, Inc. ($TILE) by 27.3%, owning a total of 184,887 shares worth approximately $3.67 million.
• Interface reported a $0.60 earnings per share for the last quarter, exceeding analysts' expectations of $0.47, and experienced an 8.3% year-over-year revenue increase.
• The company has announced a dividend of $0.02 per share to be paid on September 12th, with a dividend payout ratio of 2.47%.

Public Sector Pension Investment Board lifted its holdings in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 27.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,887 shares of the textile maker's stock after purchasing an additional 39,595 shares during the period. Public Sector Pension Investment Board owned about 0.32% of Interface worth $3,668,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TILE. Congress Asset Management Co. bought a new stake in shares of Interface during the 1st quarter worth $44,969,000. Hood River Capital Management LLC bought a new stake in shares of Interface during the 4th quarter worth $28,897,000. Nuveen LLC bought a new stake in shares of Interface during the 1st quarter worth $15,505,000. Pacer Advisors Inc. bought a new stake in shares of Interface during the 1st quarter worth $8,635,000. Finally, Nuveen Asset Management LLC raised its stake in shares of Interface by 170.3% during the 4th quarter. Nuveen Asset Management LLC now owns 641,730 shares of the textile maker's stock worth $15,626,000 after purchasing an additional 404,277 shares during the period. 98.34% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP James Poppens sold 5,000 shares of the company's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $26.14, for a total transaction of $130,700.00. Following the sale, the vice president directly owned 124,616 shares in the company, valued at $3,257,462.24. This represents a 3.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Stansfield Nigel sold 79,497 shares of the company's 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 owned 65,125 shares in the company, valued at approximately $1,667,200. This represents a 54.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,497 shares of company stock worth $2,568,613. Company insiders own 2.60% of the company's stock.

Analyst Ratings Changes

TILE has been the topic of a number of recent analyst reports. Barrington Research lifted their target price on Interface from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Wall Street Zen upgraded Interface from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $32.00.

Interface Stock Performance

Interface stock traded up $1.10 during midday trading on Friday, reaching $27.26. The stock had a trading volume of 396,356 shares, compared to its average volume of 436,213. Interface, Inc. has a 12 month low of $17.24 and a 12 month high of $27.34. The firm's 50-day moving average price is $22.61 and its 200 day moving average price is $20.86. The firm has a market capitalization of $1.59 billion, a PE ratio of 16.83, a P/E/G ratio of 1.07 and a beta of 2.00. 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 (NASDAQ:TILE - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The textile maker reported $0.60 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $360.57 million. During the same period in the previous year, the business posted $0.40 EPS. The firm's quarterly 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. As a group, research analysts predict that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Dividend Announcement

The business also recently declared a 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 is Friday, August 29th. Interface's dividend payout ratio is currently 2.47%.

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.