Reynders McVeigh Capital Management LLC Has $11.33 Million Stock Holdings in Interface, Inc. $TILE

Key Points

• Reynders McVeigh Capital Management LLC increased its stake in Interface by 10.6% in Q4 to 405,856 shares worth $11.33 million, representing about 0.70% of the company.
• Analysts have a consensus rating of Moderate Buy on TILE with an average price target of $36.00 (two Buy ratings and one Hold).
• Interface beat EPS estimates last quarter ($0.49 vs $0.40), reported roughly flat revenue, and raised its quarterly dividend to $0.03 (annualized $0.12, yield 0.4%).

Reynders McVeigh Capital Management LLC boosted its position in Interface, Inc. (NASDAQ:TILE - Free Report) by 10.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 405,856 shares of the textile maker's stock after buying an additional 38,872 shares during the quarter. Reynders McVeigh Capital Management LLC owned approximately 0.70% of Interface worth $11,331,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Congress Asset Management Co. raised its position in Interface by 3.3% in the 4th quarter. Congress Asset Management Co. now owns 2,629,174 shares of the textile maker's stock valued at $73,407,000 after buying an additional 84,793 shares during the last quarter. American Century Companies Inc. raised its position in Interface by 5.5% in the 3rd quarter. American Century Companies Inc. now owns 2,412,549 shares of the textile maker's stock valued at $69,819,000 after buying an additional 126,263 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Interface by 5.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker's stock valued at $14,854,000 after buying an additional 42,011 shares during the last quarter. Qube Research & Technologies Ltd raised its position in Interface by 2.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 646,357 shares of the textile maker's stock valued at $18,706,000 after buying an additional 13,095 shares during the last quarter. Finally, Clark Capital Management Group Inc. raised its position in Interface by 67.9% in the 3rd quarter. Clark Capital Management Group Inc. now owns 623,295 shares of the textile maker's stock valued at $18,038,000 after buying an additional 252,157 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TILE. Weiss Ratings raised Interface from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, March 20th. Wall Street Zen lowered Interface from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 17th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $36.00 price target on shares of Interface in a research report on Friday, April 17th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Interface presently has a consensus rating of "Moderate Buy" and an average price target of $36.00.

Interface Price Performance

TILE stock opened at $27.83 on Monday. The company has a current ratio of 2.34, a quick ratio of 1.18 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.61 billion, a PE ratio of 14.20, a PEG ratio of 0.91 and a beta of 1.92. Interface, Inc. has a 1-year low of $18.74 and a 1-year high of $35.11. The business's 50 day simple moving average is $27.52 and its 200 day simple moving average is $28.47.

Interface (NASDAQ:TILE - Get Free Report) last posted its earnings results on Tuesday, February 24th. The textile maker reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.09. The business had revenue of $349.39 million for the quarter, compared to analyst estimates of $350.54 million. Interface had a return on equity of 19.54% and a net margin of 8.37%.The firm's revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 EPS. As a group, research analysts anticipate that Interface, Inc. will post 2.05 EPS for the current year.

Interface Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 27th were issued a $0.03 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. This is a positive change from Interface's previous quarterly dividend of $0.02. Interface's payout ratio is currently 6.12%.

Insider Buying and Selling

In other Interface news, VP James Poppens sold 10,000 shares of the company's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $29.42, for a total value of $294,200.00. Following the transaction, the vice president directly owned 119,496 shares of the company's stock, valued at $3,515,572.32. This represents a 7.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 25,650 shares of company stock valued at $736,292. Corporate 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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