Magnetar Financial LLC Invests $858,000 in Interface, Inc. $TILE

Key Points

• Magnetar Financial LLC has recently invested $858,000 in Interface, Inc., purchasing 43,259 shares and now owns 0.07% of the company.
• Interface, Inc. reported a quarterly earnings of $0.60 per share, surpassing analysts' expectations, and has announced a quarterly dividend of $0.02 per share to be paid on September 12th.
• Shares of Interface currently have a market capitalization of $1.56 billion, with a 12-month price range between $17.24 and $27.34.

Magnetar Financial LLC bought a new position in shares of Interface, Inc. (NASDAQ:TILE - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 43,259 shares of the textile maker's stock, valued at approximately $858,000. Magnetar Financial LLC owned approximately 0.07% of Interface at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Trexquant Investment LP lifted its holdings in Interface by 6.9% in the first quarter. Trexquant Investment LP now owns 257,283 shares of the textile maker's stock valued at $5,104,000 after buying an additional 16,689 shares during the period. Virtus Advisers LLC acquired a new position in Interface in the first quarter valued at approximately $57,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Interface by 135.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 19,778 shares of the textile maker's stock valued at $392,000 after buying an additional 11,365 shares during the period. CW Advisors LLC acquired a new position in Interface in the first quarter valued at approximately $6,208,000. Finally, Martingale Asset Management L P acquired a new position in Interface in the first quarter valued at approximately $260,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Interface Stock Down 0.1%

Shares of TILE stock opened at $26.72 on Friday. The firm has a fifty day moving average of $23.27 and a 200-day moving average of $21.02. The company has a quick ratio of 1.59, a current ratio of 2.88 and a debt-to-equity ratio of 0.53. Interface, Inc. has a 12-month low of $17.24 and a 12-month high of $27.34. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 1.05 and a beta of 2.00.

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

Interface Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, August 29th. Interface's dividend payout ratio (DPR) is currently 2.47%.

Insider Transactions at Interface

In other news, VP James Poppens sold 5,000 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $26.14, for a total transaction of $130,700.00. Following the completion of the sale, the vice president owned 124,616 shares in the company, valued at approximately $3,257,462.24. This trade represents a 3.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Stansfield Nigel sold 79,497 shares of Interface stock in a transaction dated 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 sale, the vice president owned 65,125 shares of the company's stock, valued at $1,667,200. This trade represents a 54.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,497 shares of company stock worth $2,839,573. 2.30% of the stock is owned by insiders.

Analyst Ratings Changes

TILE has been the topic of several analyst reports. Barrington Research reiterated an "outperform" rating and issued a $32.00 target price on shares of Interface in a report on Friday. Wall Street Zen upgraded shares of Interface from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Interface presently has a consensus rating of "Buy" and an average price target of $32.00.

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.

Want to see what other hedge funds are holding TILE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Interface, Inc. (NASDAQ:TILE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.