Westover Capital Advisors LLC Acquires Shares of 62,478 Interface, Inc. $TILE

Key Points

• Westover Capital Advisors disclosed a new fourth-quarter stake in Interface, buying 62,478 shares worth about $1.74 million. Institutional investors now own the vast majority of the company, with hedge funds and other institutions holding 98.34% of the stock.
• Analysts have turned increasingly positive on Interface, with recent upgrades and buy ratings leading to a Moderate Buy consensus and an average $36 price target.
• Interface posted stronger-than-expected quarterly results, including EPS of $0.41 versus estimates of $0.33 and revenue of $331.04 million, up 11.3% year over year. The company also declared a quarterly dividend of $0.03 per share.

Westover Capital Advisors LLC acquired a new stake in Interface, Inc. (NASDAQ:TILE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 62,478 shares of the textile maker's stock, valued at approximately $1,744,000. Westover Capital Advisors LLC owned approximately 0.11% of Interface as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in shares of Interface by 114.6% during the third 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. Wexford Capital LP purchased a new stake in shares of Interface during the third quarter worth about $43,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Interface during the second quarter worth about $35,000. Blue Trust Inc. increased its stake in shares of Interface by 88.3% during the fourth 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, TD Private Client Wealth LLC increased its stake in shares of Interface by 168.0% during the fourth quarter. TD Private Client Wealth LLC now owns 2,985 shares of the textile maker's stock worth $83,000 after purchasing an additional 1,871 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TILE shares. Weiss Ratings raised shares of Interface from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, March 20th. Barrington Research reissued an "outperform" rating and set a $36.00 target price on shares of Interface in a research note on Friday, April 17th. Benchmark started coverage on shares of Interface in a research note on Tuesday, May 19th. They set a "buy" rating and a $36.00 target price for the company. Finally, Wall Street Zen raised shares of Interface from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Interface presently has a consensus rating of "Moderate Buy" and an average target price of $36.00.

Insider Transactions at Interface

In related news, VP James Poppens sold 10,000 shares of the business's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $29.42, for a total transaction of $294,200.00. Following the transaction, the vice president directly owned 119,496 shares in the company, valued at approximately $3,515,572.32. The trade was a 7.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP David B. Foshee sold 44,393 shares of the business's stock in a transaction dated 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 transaction, the vice president owned 175,014 shares in the company, valued at $5,075,406. The trade was a 20.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 70,043 shares of company stock worth $2,023,689 over the last 90 days. 2.47% of the stock is currently owned by company insiders.

Interface Stock Performance

TILE opened at $28.81 on Monday. The firm has a market capitalization of $1.67 billion, a PE ratio of 13.46, a PEG ratio of 0.91 and a beta of 1.92. Interface, Inc. has a twelve month low of $18.74 and a twelve month high of $35.11. The firm's 50-day moving average price is $27.07 and its 200 day moving average price is $28.58. The company has a current ratio of 2.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.30.

Interface (NASDAQ:TILE - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $331.04 million for the quarter, compared to analyst estimates of $320.38 million. Interface had a net margin of 8.92% and a return on equity of 20.09%. Interface's quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 earnings per share. As a group, sell-side analysts expect that Interface, Inc. will post 2.11 EPS for the current fiscal year.

Interface Announces Dividend

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

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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