HB Wealth Management LLC Takes Position in Interface, Inc. $TILE

HB Wealth Management LLC purchased a new position in shares of Interface, Inc. (NASDAQ:TILE) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 40,104 shares of the textile maker’s stock, valued at approximately $1,161,000.

Several other institutional investors have also bought and sold shares of TILE. IFP Advisors Inc increased its position in Interface by 2,695.2% in the second quarter. IFP Advisors Inc now owns 1,174 shares of the textile maker’s stock worth $25,000 after buying an additional 1,132 shares during the last quarter. Blue Trust Inc. bought a new position in shares of Interface during the 3rd quarter worth $34,000. EverSource Wealth Advisors LLC purchased a new stake in Interface in the 2nd quarter worth about $35,000. Global Retirement Partners LLC raised its stake in Interface by 63.3% in the 3rd quarter. Global Retirement Partners LLC now owns 1,759 shares of the textile maker’s stock valued at $51,000 after acquiring an additional 682 shares during the period. Finally, CWM LLC lifted its holdings in Interface by 15.1% during the third quarter. CWM LLC now owns 2,857 shares of the textile maker’s stock valued at $83,000 after purchasing an additional 375 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Interface Stock Performance

NASDAQ TILE opened at $30.06 on Monday. The company’s 50 day simple moving average is $27.54 and its two-hundred day simple moving average is $26.27. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.89 and a quick ratio of 1.70. Interface, Inc. has a 1 year low of $17.24 and a 1 year high of $30.20. The stock has a market capitalization of $1.76 billion, a PE ratio of 15.66, a P/E/G ratio of 1.00 and a beta of 1.90.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Friday, October 31st. The textile maker reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.15. The firm had revenue of $364.53 million for the quarter, compared to analysts’ expectations of $358.19 million. Interface had a net margin of 8.27% and a return on equity of 19.30%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 earnings per share. Analysts predict that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were given 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, November 28th. Interface’s dividend payout ratio (DPR) is 4.17%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TILE shares. Wall Street Zen downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 16th. Barrington Research reiterated an “outperform” rating and issued a $32.00 price objective on shares of Interface in a research note on Friday, October 31st. Zacks Research downgraded Interface from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Finally, Weiss Ratings lowered Interface from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, December 24th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $32.00.

Interface 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.