Wedge Capital Management L L P NC Reduces Holdings in Interface, Inc. $TILE

Key Points

• Wedge Capital Management L L P NC reduced its holdings in Interface, Inc. by 16.2%, resulting in ownership of 52,454 shares valued at approximately $1,098,000.
• Interface reported a significant quarterly earnings beat, with $0.60 earnings per share, exceeding analysts' expectations of $0.47, and a revenue of $375.52 million.
• The company recently announced a quarterly dividend of $0.02 per share, reflecting a modest annualized yield of 0.3% and a payout ratio of 4.94%.

Wedge Capital Management L L P NC lowered its stake in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 16.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,454 shares of the textile maker's stock after selling 10,115 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.09% of Interface worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Versant Capital Management Inc grew its position in shares of Interface by 49.6% during the first quarter. Versant Capital Management Inc now owns 2,458 shares of the textile maker's stock worth $49,000 after buying an additional 815 shares in the last quarter. Virtus Advisers LLC acquired a new stake in shares of Interface during the first quarter worth approximately $57,000. Martingale Asset Management L P acquired a new stake in shares of Interface during the first quarter worth approximately $260,000. Allspring Global Investments Holdings LLC grew its position in shares of Interface by 56.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 14,649 shares of the textile maker's stock worth $291,000 after buying an additional 5,299 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Interface during the first quarter worth approximately $303,000. Institutional investors and hedge funds own 98.34% of the company's stock.

Interface Price Performance

Shares of NASDAQ TILE opened at $29.73 on Tuesday. Interface, Inc. has a fifty-two week low of $17.24 and a fifty-two week high of $30.20. The firm's 50-day simple moving average is $25.47 and its 200 day simple moving average is $21.87. The company has a quick ratio of 1.59, a current ratio of 2.88 and a debt-to-equity ratio of 0.53. The stock has a market cap of $1.74 billion, a P/E ratio of 18.35, a P/E/G ratio of 1.16 and a beta of 2.11.

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 for the quarter, beating analysts' consensus estimates of $0.47 by $0.13. Interface had a net margin of 7.08% and a return on equity of 18.97%. The business had revenue of $375.52 million for the quarter, compared to analysts' expectations of $360.57 million. During the same period in the previous year, the business earned $0.40 earnings per share. The company's revenue was up 8.3% on a year-over-year basis. Interface has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts expect that Interface, Inc. will post 1.37 EPS for the current year.

Interface Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, August 29th. Interface's payout ratio is currently 4.94%.

Insider Activity at Interface

In other Interface news, VP Stansfield Nigel sold 79,497 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $25.60, for a total value of $2,035,123.20. Following the sale, the vice president directly owned 65,125 shares in the company, valued at approximately $1,667,200. The trade was a 54.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Bruce Andrew Hausmann sold 25,000 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $26.95, for a total transaction of $673,750.00. Following the completion of the sale, the chief financial officer owned 145,403 shares in the company, valued at approximately $3,918,610.85. This trade represents a 14.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,497 shares of company stock worth $2,839,573 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of Interface from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Barrington Research reaffirmed an "outperform" rating and issued a $32.00 price objective on shares of Interface in a report on Friday, August 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Interface has a consensus rating of "Buy" and an average price target of $32.00.

About Interface

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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