Interface, Inc. (NASDAQ:TILE) Short Interest Up 57.3% in August

Key Points

• Interface, Inc. reported a 57.3% increase in short interest in August, reaching 3,020,000 shares, which represents approximately 5.3% of its total shares.
• The company recently announced a quarterly dividend of $0.02 per share, with an annualized yield of 0.3% and a payout ratio of 4.94%.
• In its latest earnings report, Interface exceeded expectations with $0.60 earnings per share, up from $0.40 in the same quarter last year, alongside a revenue rise of 8.3% year-over-year.

Interface, Inc. (NASDAQ:TILE - Get Free Report) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totaling 3,020,000 shares, an increase of 57.3% from the August 15th total of 1,920,000 shares. Based on an average trading volume of 374,700 shares, the days-to-cover ratio is presently 8.1 days. Approximately 5.3% of the company's stock are short sold. Approximately 5.3% of the company's stock are short sold. Based on an average trading volume of 374,700 shares, the days-to-cover ratio is presently 8.1 days.

Insider Activity

In other news, VP Stansfield Nigel sold 79,497 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $25.60, for a total transaction of $2,035,123.20. Following the transaction, the vice president owned 65,125 shares in the company, valued at $1,667,200. This represents a 54.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Bruce Andrew Hausmann sold 25,000 shares of the company's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $26.95, for a total transaction of $673,750.00. Following the transaction, 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 position. 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 90 days. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Interface

A number of hedge funds and other institutional investors have recently modified their holdings of the company. IFP Advisors Inc increased its position in Interface by 2,695.2% during the 2nd quarter. IFP Advisors Inc now owns 1,174 shares of the textile maker's stock valued at $25,000 after purchasing an additional 1,132 shares during the period. EverSource Wealth Advisors LLC acquired a new position in Interface in the second quarter valued at about $35,000. Virtus Fund Advisers LLC acquired a new stake in Interface in the fourth quarter valued at approximately $48,000. Versant Capital Management Inc raised its holdings in Interface by 49.6% in the first quarter. Versant Capital Management Inc now owns 2,458 shares of the textile maker's stock valued at $49,000 after acquiring an additional 815 shares in the last quarter. Finally, Virtus Advisers LLC purchased a new position in shares of Interface during the first quarter worth approximately $57,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Interface Trading Down 1.3%

Shares of Interface stock traded down $0.39 during trading on Friday, hitting $29.49. The company's stock had a trading volume of 331,703 shares, compared to its average volume of 450,776. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 1.14 and a beta of 2.11. The stock has a 50-day moving average price of $25.14 and a two-hundred day moving average price of $21.67. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.88 and a quick ratio of 1.59. Interface has a 52 week low of $17.24 and a 52 week high of $30.20.

Interface (NASDAQ:TILE - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.13. Interface had a net margin of 7.08% and a return on equity of 18.97%. The company had revenue of $375.52 million during the quarter, compared to analyst estimates of $360.57 million. During the same quarter last year, the business posted $0.40 EPS. Interface's quarterly revenue was up 8.3% compared to the same quarter last year. Interface has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts anticipate that Interface will post 1.37 EPS for the current fiscal 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 given a dividend of $0.02 per share. The ex-dividend date was Friday, August 29th. This represents a $0.08 dividend on an annualized basis and a yield of 0.3%. Interface's dividend payout ratio is 4.94%.

Interface Company Profile

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.