Sanctuary Advisors LLC Takes Position in Interface, Inc. $TILE

Key Points

• Sanctuary Advisors acquired 50,188 shares of Interface, valued at approximately $1.8 million, while institutional investors collectively own 98.34% of the company.
• Analysts maintain a generally positive outlook, with Interface receiving a consensus “Moderate Buy” rating and an average price target of $40.50.
• Interface exceeded quarterly expectations, reporting $0.88 in EPS versus the $0.64 estimate and revenue of $395.7 million; revenue increased 5.4% year over year.

Sanctuary Advisors LLC bought a new stake in Interface, Inc. (NASDAQ:TILE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 50,188 shares of the textile maker's stock, valued at approximately $1,799,000. Sanctuary Advisors LLC owned about 0.09% of Interface at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TILE. BlackRock Inc. acquired a new stake in Interface in the 2nd quarter worth about $338,055,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Interface during the 2nd quarter valued at about $66,077,000. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Interface by 133.9% during 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 acquiring an additional 1,149,733 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Interface during the 2nd quarter worth about $16,508,000. Finally, UBS Group AG boosted its position in shares of Interface by 413.8% in the fourth quarter. UBS Group AG now owns 499,035 shares of the textile maker's stock worth $13,933,000 after acquiring an additional 401,912 shares during the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TILE shares. Benchmark initiated coverage on shares of Interface in a report on Tuesday, May 19th. They issued a "buy" rating and a $36.00 target price for the company. Zacks Research lowered shares of Interface from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 28th. Wall Street Zen cut shares of Interface from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 15th. Weiss Ratings upgraded Interface from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 12th. Finally, Barrington Research increased their target price on Interface from $36.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Interface has an average rating of "Moderate Buy" and a consensus price target of $40.50.

Insider Activity at Interface

In other news, CEO Laurel Hurd sold 7,000 shares of the company's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $39.09, for a total value of $273,630.00. Following the completion of the sale, the chief executive officer owned 506,978 shares of the company's stock, valued at $19,817,770.02. This represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.47% of the stock is currently owned by corporate insiders.

Interface Price Performance

TILE opened at $38.70 on Thursday. The company has a quick ratio of 1.35, a current ratio of 2.53 and a debt-to-equity ratio of 0.29. Interface, Inc. has a 52-week low of $24.40 and a 52-week high of $40.50. The company has a 50 day moving average of $35.18 and a two-hundred day moving average of $31.07. The company has a market cap of $2.25 billion, a P/E ratio of 15.67, a P/E/G ratio of 1.10 and a beta of 1.90.

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

Interface Dividend Announcement

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

About Interface

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source