LPL Financial LLC Purchases Shares of 159,875 Interface, Inc. (NASDAQ: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 Interface, Inc. (NASDAQ:TILE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 159,875 shares of the textile maker's stock, valued at approximately $3,172,000. LPL Financial LLC owned approximately 0.27% of Interface as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of TILE. Allspring Global Investments Holdings LLC lifted its position in shares of Interface by 56.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 14,649 shares of the textile maker's stock worth $291,000 after purchasing an additional 5,299 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Interface by 277.1% in the first 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 in the last quarter. North Star Investment Management Corp. raised its position in Interface by 9.9% during the first quarter. North Star Investment Management Corp. now owns 166,075 shares of the textile maker's stock worth $3,295,000 after acquiring an additional 15,000 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Interface during the first quarter worth $304,000. Finally, Raymond James Financial Inc. bought a new stake in Interface during the fourth quarter worth $2,498,000. Institutional investors own 98.34% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TILE. Wall Street Zen raised shares of Interface from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Barrington Research upped their price target on shares of Interface from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st.

Insider Buying and Selling

In other Interface news, VP James Poppens sold 19,474 shares of the stock in a transaction that occurred 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 sale, the vice president owned 130,142 shares of the company's stock, valued at approximately $2,621,059.88. This represents a 13.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Stansfield Nigel sold 79,497 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $25.60, for a total value of $2,035,123.20. Following the completion of the transaction, 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. Insiders have sold a total of 99,497 shares of company stock valued at $2,437,913 in the last three months. Insiders own 2.30% of the company's stock.

Interface Trading Down 0.4%

TILE opened at $26.62 on Friday. Interface, Inc. has a twelve month low of $17.04 and a twelve month high of $27.34. The company has a 50-day simple moving average of $22.01 and a 200 day simple moving average of $20.79. The company has a quick ratio of 1.59, a current ratio of 2.88 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 1.04 and a beta of 2.00.

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

Interface Announces Dividend

The company also recently announced a dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, August 29th. Interface's dividend payout ratio is currently 2.47%.

Interface 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.

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