LPL Financial LLC Purchases New Position in Interface, Inc. $TILE

Key Points

• LPL Financial LLC acquired 159,875 shares of Interface, Inc. for around $3.17 million, representing approximately 0.27% ownership in the company as of their recent SEC filing.
• Interface received upgrades from research firms, with Wall Street Zen increasing its rating to "strong-buy" and Barrington Research raising the price target from $30.00 to $32.00.
• The company reported a higher-than-expected EPS of $0.60 for the last quarter, beating analyst estimates and showcasing an 8.3% revenue growth year-over-year.

LPL Financial LLC purchased a new stake in shares of Interface, Inc. (NASDAQ:TILE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 159,875 shares of the textile maker's stock, valued at approximately $3,172,000. LPL Financial LLC owned 0.27% of Interface at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Interface by 56.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,649 shares of the textile maker's stock valued at $291,000 after buying an additional 5,299 shares during the period. Envestnet Asset Management Inc. raised its holdings in Interface by 277.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 97,270 shares of the textile maker's stock worth $1,930,000 after purchasing an additional 71,476 shares during the period. North Star Investment Management Corp. raised its holdings in Interface by 9.9% in the 1st quarter. North Star Investment Management Corp. now owns 166,075 shares of the textile maker's stock worth $3,295,000 after purchasing an additional 15,000 shares during the period. Harbor Capital Advisors Inc. bought a new position in Interface in the 1st quarter worth $304,000. Finally, Raymond James Financial Inc. bought a new position in Interface in the 4th quarter worth $2,498,000. 98.34% of the stock is owned by institutional investors.

Interface Price Performance

Shares of TILE stock traded down $0.29 during trading hours on Thursday, hitting $26.16. The stock had a trading volume of 328,875 shares, compared to its average volume of 428,656. Interface, Inc. has a one year low of $17.24 and a one year high of $27.34. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.88 and a quick ratio of 1.59. The stock's 50-day moving average price is $22.46 and its two-hundred day moving average price is $20.88. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 1.04 and a beta of 2.00.

Interface (NASDAQ:TILE - Get Free Report) last issued its earnings results on Friday, August 1st. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.13. The firm had revenue of $375.52 million for the quarter, compared to analysts' expectations of $360.57 million. Interface had a return on equity of 18.97% and a net margin of 7.08%.The business's revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 earnings per share. Interface has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts forecast that Interface, Inc. will post 1.37 EPS for the current year.

Interface Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be given a $0.02 dividend. The ex-dividend date is Friday, August 29th. Interface's dividend payout ratio (DPR) is currently 2.47%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wall Street Zen raised Interface from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Barrington Research raised their target price on Interface from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $32.00.

Insider Activity

In other Interface news, VP Stansfield Nigel sold 79,497 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $25.60, for a total transaction of $2,035,123.20. Following the completion of the transaction, the vice president owned 65,125 shares in the company, valued at $1,667,200. The trade was a 54.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP James Poppens sold 19,474 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $20.14, for a total value of $392,206.36. Following the completion of the sale, the vice president owned 130,142 shares of the company's stock, valued at $2,621,059.88. The trade was a 13.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,497 shares of company stock valued at $2,437,913. 2.30% of the stock is currently owned by company insiders.

About Interface

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.