Interface, Inc. $TILE Shares Sold by North Star Investment Management Corp.

Key Points

• North Star Investment Management cut its stake in Interface by 27% in the first quarter, selling 38,200 shares and leaving it with 103,075 shares worth about $2.57 million.
• Interface beat quarterly expectations, reporting EPS of $0.41 versus $0.33 expected and revenue of $331.0 million, up 11.3% year over year.
• Analysts remain generally positive on TILE, with a Moderate Buy consensus and an average price target of $36; the stock recently traded near its 52-week high at $35.74.

North Star Investment Management Corp. lowered its stake in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 27.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 103,075 shares of the textile maker's stock after selling 38,200 shares during the period. North Star Investment Management Corp. owned approximately 0.18% of Interface worth $2,569,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TILE. Louisiana State Employees Retirement System purchased a new stake in Interface in the first quarter valued at approximately $645,000. Diversified Trust Co boosted its position in shares of Interface by 8.1% during the first quarter. Diversified Trust Co now owns 19,301 shares of the textile maker's stock worth $481,000 after buying an additional 1,438 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in shares of Interface by 133.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker's stock valued at $56,071,000 after buying an additional 1,149,733 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Interface in the fourth quarter valued at $471,000. Finally, Zacks Investment Management raised its holdings in shares of Interface by 40.2% in the 4th quarter. Zacks Investment Management now owns 53,739 shares of the textile maker's stock valued at $1,500,000 after buying an additional 15,401 shares during the period. Institutional investors and hedge funds own 98.34% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on TILE. Weiss Ratings restated a "buy (b-)" rating on shares of Interface in a report on Wednesday, June 17th. Benchmark assumed coverage on shares of Interface in a research note on Tuesday, May 19th. They set a "buy" rating and a $36.00 price target on the stock. Barrington Research reissued an "outperform" rating and set a $36.00 price target on shares of Interface in a research report on Friday, April 17th. Finally, Wall Street Zen raised shares of Interface from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Interface presently has a consensus rating of "Moderate Buy" and an average price target of $36.00.

Interface Price Performance

TILE stock opened at $35.74 on Monday. The business's 50-day moving average is $29.64 and its two-hundred day moving average is $29.36. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.43 and a quick ratio of 1.16. The firm has a market capitalization of $2.08 billion, a P/E ratio of 16.70, a P/E/G ratio of 1.13 and a beta of 1.92. Interface, Inc. has a 1 year low of $20.37 and a 1 year high of $36.05.

Interface (NASDAQ:TILE - Get Free Report) last announced 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. Interface had a return on equity of 20.09% and a net margin of 8.92%.The business had revenue of $331.04 million during the quarter, compared to the consensus estimate of $320.38 million. During the same period in the previous year, the company posted $0.25 earnings per share. The business's revenue for the quarter was up 11.3% on a year-over-year basis. Analysts anticipate that Interface, Inc. will post 2.11 earnings per share for the current fiscal year.

Interface Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date was Friday, June 5th. Interface's payout ratio is 5.61%.

Insider Buying and Selling

In other Interface news, CFO Bruce Andrew Hausmann sold 50,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.66, for a total value of $1,483,000.00. Following the sale, the chief financial officer directly owned 119,256 shares of the company's stock, valued at approximately $3,537,132.96. This represents a 29.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP David B. Foshee sold 44,393 shares of Interface stock in a transaction on Monday, May 18th. The stock was sold at an average price of $29.00, for a total transaction of $1,287,397.00. Following the sale, the vice president directly owned 175,014 shares of the company's stock, valued at approximately $5,075,406. This trade represents a 20.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.47% of the company's stock.

Interface Profile

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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