Jupiter Asset Management Ltd. Has $6.81 Million Stock Holdings in Interface, Inc. (NASDAQ:TILE)

Key Points

• Jupiter Asset Management Ltd. increased its holdings in Interface, Inc. by 28.5%, acquiring 76,103 shares to reach a total of 343,102 shares worth approximately $6.8 million.
• Interface's recent quarterly earnings report showed an EPS of $0.60, exceeding analysts' expectations and marking an 8.3% year-over-year revenue growth.
• Several hedge funds have also significantly invested in Interface recently, with institutional investors now owning 98.34% of the company's stock.

Jupiter Asset Management Ltd. grew its holdings in Interface, Inc. (NASDAQ:TILE - Free Report) by 28.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 343,102 shares of the textile maker's stock after purchasing an additional 76,103 shares during the period. Jupiter Asset Management Ltd. owned about 0.59% of Interface worth $6,807,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TILE. Huntington National Bank bought a new position in Interface in the 4th quarter valued at about $28,000. Virtus Fund Advisers LLC acquired a new stake in Interface during the 4th quarter worth approximately $48,000. Versant Capital Management Inc boosted its stake in Interface by 49.6% in the 1st quarter. Versant Capital Management Inc now owns 2,458 shares of the textile maker's stock valued at $49,000 after purchasing an additional 815 shares during the period. National Bank of Canada FI boosted its stake in Interface by 13.3% in the 4th quarter. National Bank of Canada FI now owns 3,850 shares of the textile maker's stock valued at $94,000 after purchasing an additional 451 shares during the period. Finally, Scotia Capital Inc. acquired a new position in Interface in the 4th quarter valued at $204,000. Institutional investors own 98.34% of the company's stock.

Interface Price Performance

NASDAQ TILE traded up $0.21 during midday trading on Tuesday, hitting $25.46. The company had a trading volume of 452,470 shares, compared to its average volume of 390,911. The firm has a 50-day moving average price of $20.99 and a 200-day moving average price of $20.68. The company has a market capitalization of $1.49 billion, a PE ratio of 15.72, a P/E/G ratio of 0.99 and a beta of 2.00. The company has a current ratio of 2.88, a quick ratio of 1.59 and a debt-to-equity ratio of 0.53. Interface, Inc. has a twelve month low of $15.93 and a twelve month high of $27.34.

Interface (NASDAQ:TILE - Get Free Report) last issued its earnings results on Friday, August 1st. The textile maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.47 by $0.13. Interface had a net margin of 7.08% and a return on equity of 18.97%. The company had revenue of $375.52 million during the quarter, compared to analysts' expectations of $360.57 million. During the same period in the previous year, the company earned $0.40 EPS. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, analysts anticipate that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $0.01 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Interface's dividend payout ratio is 2.47%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Barrington Research boosted their target price on shares of Interface from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Friday. Wall Street Zen upgraded shares of Interface from a "hold" rating to a "buy" rating in a research report on Saturday, May 10th.

Insider Activity at Interface

In other news, VP James Poppens sold 19,474 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $20.14, for a total transaction of $392,206.36. Following the completion of the transaction, the vice president directly owned 130,142 shares in the company, valued at approximately $2,621,059.88. This represents a 13.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.60% of the company's stock.

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.