Man Group plc Purchases New Shares in Interface, Inc. $TILE

Key Points

• Man Group plc initiated a position in Interface, purchasing 44,129 shares valued at approximately $1.58 million. Institutional investors collectively own 98.34% of the company, with BlackRock also establishing a significant new position.
• Analyst sentiment is broadly positive: Interface has an average “Buy” rating and a consensus price target of $40.50, compared with shares opening at $36.85.
• Interface exceeded quarterly expectations, reporting $0.88 in EPS versus the $0.64 consensus estimate and revenue of $395.7 million, up 5.4% year over year. The company also declared a quarterly dividend of $0.03 per share.

Man Group plc purchased a new position in shares of Interface, Inc. (NASDAQ:TILE - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 44,129 shares of the textile maker's stock, valued at approximately $1,582,000. Man Group plc owned approximately 0.08% of Interface as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Interface in the second quarter worth about $338,055,000. Dimensional Fund Advisors LP increased its holdings in shares of Interface by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,689,857 shares of the textile maker's stock valued at $75,105,000 after purchasing an additional 36,530 shares in the last quarter. State Street Corp increased its holdings in shares of Interface by 0.7% in the fourth quarter. State Street Corp now owns 2,192,472 shares of the textile maker's stock valued at $61,214,000 after purchasing an additional 14,764 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Interface by 133.9% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker's stock worth $56,071,000 after purchasing an additional 1,149,733 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new position in Interface in the 2nd quarter worth approximately $66,077,000. Institutional investors own 98.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TILE. Benchmark initiated coverage on Interface in a research report on Tuesday, May 19th. They issued a "buy" rating and a $36.00 price objective on the stock. Weiss Ratings raised Interface from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 12th. Zacks Research upgraded Interface from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 26th. Barrington Research boosted their price objective on Interface from $36.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Finally, Wall Street Zen cut Interface from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $40.50.

Interface Stock Performance

Shares of Interface stock opened at $36.85 on Thursday. The firm has a fifty day moving average of $35.66 and a two-hundred day moving average of $31.19. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 1.05 and a beta of 1.92. Interface, Inc. has a 52 week low of $24.40 and a 52 week high of $40.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.35 and a current ratio of 2.53.

Interface (NASDAQ:TILE - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.24. Interface had a return on equity of 21.77% and a net margin of 10.10%.The business had revenue of $395.70 million for the quarter, compared to analyst estimates of $391.22 million. During the same period last year, the company earned $0.60 EPS. The firm's revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts predict that Interface, Inc. will post 2.36 EPS for the current year.

Interface Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a dividend of $0.03 per share. The ex-dividend date is Friday, September 4th. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. Interface's dividend payout ratio (DPR) is 4.86%.

Insider Activity

In other news, CEO Laurel Hurd sold 7,000 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $39.09, for a total transaction of $273,630.00. Following the completion of the transaction, the chief executive officer directly owned 506,978 shares in the company, valued at approximately $19,817,770.02. The trade was a 1.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.47% of the company's stock.

Interface Company Profile

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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