Northwestern Mutual Wealth Management Co. Buys 269,439 Shares of Interface, Inc. $TILE

Key Points

• Northwestern Mutual Wealth Management Co. dramatically increased its stake in Interface, buying 269,439 shares in the fourth quarter and lifting its holdings to 280,986 shares worth about $7.85 million.
• Interface beat expectations in its latest quarter, reporting EPS of $0.41 versus the $0.33 estimate and revenue of $331.04 million, up 11.3% year over year.
• Analysts remain constructive on TILE, with a consensus rating of Moderate Buy and an average price target of $36, while the stock recently traded at $28.81.

Northwestern Mutual Wealth Management Co. lifted its stake in Interface, Inc. (NASDAQ:TILE - Free Report) by 2,333.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 280,986 shares of the textile maker's stock after purchasing an additional 269,439 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.48% of Interface worth $7,845,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in TILE. Larson Financial Group LLC boosted its position in shares of Interface by 114.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker's stock worth $34,000 after purchasing an additional 628 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Interface in the 2nd quarter worth approximately $35,000. Wexford Capital LP bought a new stake in shares of Interface in the 3rd quarter worth approximately $43,000. Blue Trust Inc. boosted its position in shares of Interface by 88.3% in the 4th quarter. Blue Trust Inc. now owns 2,199 shares of the textile maker's stock worth $61,000 after purchasing an additional 1,031 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Interface by 399.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,763 shares of the textile maker's stock worth $121,000 after purchasing an additional 4,608 shares in the last quarter. 98.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TILE has been the topic of a number of analyst reports. Barrington Research reissued an "outperform" rating and issued a $36.00 price target on shares of Interface in a research report on Friday, April 17th. Wall Street Zen raised Interface from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 16th. Weiss Ratings raised Interface from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, March 20th. Finally, Benchmark initiated coverage on Interface in a research report on Tuesday. They issued a "buy" rating and a $36.00 price target on the stock. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $36.00.

Interface Price Performance

Shares of NASDAQ TILE opened at $28.81 on Friday. Interface, Inc. has a twelve month low of $18.74 and a twelve month high of $35.11. The firm has a market cap of $1.67 billion, a P/E ratio of 13.46, a PEG ratio of 0.92 and a beta of 1.92. The company has a 50 day moving average of $27.07 and a 200 day moving average of $28.56. The company has a quick ratio of 1.16, a current ratio of 2.43 and a debt-to-equity ratio of 0.30.

Interface (NASDAQ:TILE - Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The textile maker reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.08. Interface had a net margin of 8.92% and a return on equity of 20.09%. The company had revenue of $331.04 million during the quarter, compared to analyst estimates of $320.38 million. During the same period in the previous year, the business earned $0.25 EPS. The firm's revenue for the quarter was up 11.3% on a year-over-year basis. As a group, research analysts expect that Interface, Inc. will post 2.11 EPS for the current fiscal year.

Interface Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, June 5th. Interface's payout ratio is presently 5.61%.

Insider Buying and Selling

In related news, VP James Poppens sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $29.42, for a total value of $294,200.00. Following the completion of the transaction, the vice president directly owned 119,496 shares in the company, valued at $3,515,572.32. The trade was a 7.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David B. Foshee sold 44,393 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $29.00, for a total transaction of $1,287,397.00. Following the completion of the transaction, the vice president owned 175,014 shares of the company's stock, valued at approximately $5,075,406. The trade was a 20.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 70,043 shares of company stock valued at $2,023,689. 2.47% of the stock is owned by company insiders.

Interface 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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