Interface, Inc. $TILE Shares Sold by Teacher Retirement System of Texas

Key Points

• Teacher Retirement System of Texas cut its stake in Interface, Inc. (NASDAQ:TILE) by 47.6% in Q4, selling 139,770 shares and leaving it with 154,038 shares (about 0.26% of the company) valued at $4.30 million.
• Interface beat quarterly EPS (reported $0.49 vs. $0.40 expected), delivered 4.3% year-over-year revenue growth, and raised its quarterly dividend to $0.03 (annualized $0.12, ~0.4% yield).
• Institutional ownership stands at 98.34% with firms like Goldman Sachs and JPMorgan increasing positions, while insiders have sold 25,650 shares in the past 90 days (including a 10,000-share sale by VP James Poppens).

Teacher Retirement System of Texas lessened its stake in Interface, Inc. (NASDAQ:TILE - Free Report) by 47.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 154,038 shares of the textile maker's stock after selling 139,770 shares during the quarter. Teacher Retirement System of Texas owned about 0.26% of Interface worth $4,301,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of Interface by 8.4% during the first quarter. Royal Bank of Canada now owns 19,657 shares of the textile maker's stock worth $390,000 after purchasing an additional 1,522 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Interface by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,118 shares of the textile maker's stock valued at $677,000 after purchasing an additional 1,485 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Interface by 5.9% during 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Interface by 6.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 151,950 shares of the textile maker's stock worth $3,015,000 after buying an additional 9,580 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Interface by 24.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 201,630 shares of the textile maker's stock worth $4,220,000 after buying an additional 39,941 shares during the period. Institutional investors and hedge funds own 98.34% of the company's stock.

Interface Price Performance

Shares of TILE stock opened at $27.94 on Tuesday. The firm has a fifty day moving average of $27.86 and a two-hundred day moving average of $28.44. The firm has a market cap of $1.62 billion, a P/E ratio of 14.26, a P/E/G ratio of 0.91 and a beta of 1.96. Interface, Inc. has a 1-year low of $18.23 and a 1-year high of $35.11. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.34 and a quick ratio of 1.18.

Interface (NASDAQ:TILE - Get Free Report) last issued its earnings results on Tuesday, February 24th. The textile maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.09. The business had revenue of $349.39 million for the quarter, compared to analyst estimates of $350.54 million. Interface had a net margin of 8.37% and a return on equity of 19.54%. The company's revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.34 EPS. As a group, research analysts anticipate that Interface, Inc. will post 2.05 earnings per share for the current fiscal year.

Interface Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 27th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, March 27th. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. This is a boost from Interface's previous quarterly dividend of $0.02. Interface's dividend payout ratio (DPR) is 6.12%.

Insider Activity at Interface

In other news, VP James Poppens sold 10,000 shares of Interface stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $29.42, for a total value of $294,200.00. Following the completion of the transaction, the vice president owned 119,496 shares in the company, valued at approximately $3,515,572.32. This trade represents a 7.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 25,650 shares of company stock valued at $736,292. 2.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TILE shares. Weiss Ratings raised shares of Interface from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, March 20th. Zacks Research cut Interface from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 30th. Barrington Research reissued an "outperform" rating and issued a $36.00 price target on shares of Interface in a report on Friday, April 17th. Finally, Wall Street Zen lowered Interface from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 17th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock 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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