Vest Financial LLC Purchases 52,116 Shares of Interface, Inc. $TILE

Key Points

• Vest Financial LLC bought 52,116 shares of Interface during the third quarter, valued at approximately $1.79 million and representing about 0.09% of the company. Institutional investors collectively own 98.34% of Interface.
• Interface reported quarterly EPS of $0.88, exceeding the $0.64 consensus estimate, while revenue rose 5.4% year over year to $395.7 million. Analysts’ average rating is “Moderate Buy,” with an average price target of $40.50.
• Company insiders sold 58,621 shares worth approximately $2.12 million over the past 90 days. Interface also maintains a quarterly dividend of $0.03 per share, equivalent to a 0.3% annual yield.

Vest Financial LLC purchased a new position in Interface, Inc. (NASDAQ:TILE - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 52,116 shares of the textile maker's stock, valued at approximately $1,793,000. Vest Financial LLC owned about 0.09% of Interface as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in shares of Interface by 91.6% in the 2nd quarter. Wellington Management Group LLP now owns 294,389 shares of the textile maker's stock worth $10,551,000 after buying an additional 140,745 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Interface in the 2nd quarter worth about $5,906,000. Bank of New York Mellon Corp bought a new stake in shares of Interface in the 2nd quarter worth about $16,508,000. Deutsche Bank AG purchased a new stake in shares of Interface during the 2nd quarter valued at about $2,347,000. Finally, Edgestream Partners L.P. purchased a new stake in shares of Interface during the 1st quarter valued at about $3,257,000. Hedge funds and other institutional investors own 98.34% of the company's stock.

Insider Activity

In other news, Director Daniel Hendrix sold 8,000 shares of the firm's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $37.13, for a total transaction of $297,040.00. Following the transaction, the director owned 88,147 shares in the company, valued at approximately $3,272,898.11. This trade represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Foshee sold 28,451 shares of Interface stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $35.99, for a total value of $1,023,951.49. Following the completion of the sale, the vice president owned 146,563 shares of the company's stock, valued at $5,274,802.37. The trade was a 16.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 58,621 shares of company stock worth $2,123,964. Company insiders own 2.47% of the company's stock.

Interface Price Performance

Interface stock opened at $36.42 on Friday. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 1.03 and a beta of 1.99. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.53 and a quick ratio of 1.35. Interface, Inc. has a 1 year low of $24.40 and a 1 year high of $40.50. The firm has a 50-day moving average of $35.98 and a two-hundred day moving average of $32.92.

Interface (NASDAQ:TILE - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $395.70 million for the quarter, compared to analysts' expectations of $391.22 million. Interface had a return on equity of 21.77% and a net margin of 10.10%. Interface's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 earnings per share. On average, research analysts forecast that Interface, Inc. will post 2.36 earnings per share for the current year.

Interface Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. Interface's dividend payout ratio is presently 4.86%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Weiss Ratings upgraded Interface from a "buy (b)" rating to a "buy (b+)" rating in a research report on Monday, October 12th. Wall Street Zen downgraded Interface from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 15th. Barrington Research upped their price objective on Interface from $36.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Finally, Zacks Research lowered Interface from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 9th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $40.50.

About Interface

Interface, Inc designs and manufactures modular flooring products for commercial, institutional and residential interiors. Its portfolio includes carpet tile, broadloom carpet and resilient flooring, including luxury vinyl tile. The company serves markets such as corporate offices, hospitality, education, healthcare and retail.

Founded in 1973 by Ray Anderson, Interface is headquartered in Atlanta, Georgia, and sells its products through a global network serving customers in North America, Europe and the Asia-Pacific region.

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