Martingale Asset Management L P Makes New Investment in Interface, Inc. $TILE

Key Points

• Martingale Asset Management L P has made a new investment in Interface, Inc., acquiring 13,109 shares valued at approximately $260,000.
• Several institutional investors have also increased their stakes in Interface, including Wells Fargo and Envestnet Asset Management, showing a growing interest in the company.
• Interface's recent quarterly earnings surpassed analyst expectations, reporting an EPS of $0.60, significantly higher than the anticipated $0.47.

Martingale Asset Management L P bought a new position in Interface, Inc. (NASDAQ:TILE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,109 shares of the textile maker's stock, valued at approximately $260,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its holdings in shares of Interface by 29.9% in the fourth quarter. Wells Fargo & Company MN now owns 33,114 shares of the textile maker's stock valued at $806,000 after buying an additional 7,618 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Interface by 26.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 25,794 shares of the textile maker's stock valued at $628,000 after buying an additional 5,332 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Interface in the fourth quarter valued at $2,498,000. Mariner LLC increased its holdings in shares of Interface by 12.7% in the fourth quarter. Mariner LLC now owns 25,898 shares of the textile maker's stock valued at $631,000 after buying an additional 2,913 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Interface by 16.8% in the fourth quarter. Marshall Wace LLP now owns 49,866 shares of the textile maker's stock valued at $1,214,000 after buying an additional 7,167 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on TILE shares. Barrington Research upped their price target on Interface from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Wall Street Zen raised Interface from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Interface has a consensus rating of "Buy" and a consensus price target of $32.00.

Interface Trading Down 2.1%

Interface stock opened at $26.68 on Tuesday. The company's fifty day simple moving average is $22.73 and its 200-day simple moving average is $20.89. 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 stock has a market cap of $1.56 billion, a P/E ratio of 16.47, a P/E/G ratio of 1.07 and a beta of 2.00.

Interface (NASDAQ:TILE - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The textile maker reported $0.60 earnings per share (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%. Interface's revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 earnings per share. Interface has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts forecast that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Dividend Announcement

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

Insider Transactions at Interface

In other Interface news, VP Stansfield Nigel sold 79,497 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were 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 directly owned 65,125 shares in the company, valued at $1,667,200. This represents a 54.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James Poppens sold 5,000 shares of the company'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 transaction, the vice president directly owned 124,616 shares of the company's stock, valued at $3,257,462.24. This represents a 3.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,497 shares of company stock valued at $2,568,613 over the last 90 days. Corporate 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.

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