Strs Ohio Makes New Investment in Interface, Inc. $TILE

Strs Ohio acquired a new stake in Interface, Inc. (NASDAQ:TILE) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 29,100 shares of the textile maker’s stock, valued at approximately $725,000. Strs Ohio owned about 0.05% of Interface as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Interface by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,689,857 shares of the textile maker’s stock valued at $75,105,000 after acquiring an additional 36,530 shares in the last quarter. Congress Asset Management Co. lifted its holdings in Interface by 3.3% during the fourth quarter. Congress Asset Management Co. now owns 2,629,174 shares of the textile maker’s stock worth $73,407,000 after acquiring an additional 84,793 shares during the period. State Street Corp boosted its position in Interface by 0.7% in the fourth quarter. State Street Corp now owns 2,192,472 shares of the textile maker’s stock worth $61,214,000 after purchasing an additional 14,764 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in Interface by 133.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker’s stock worth $56,071,000 after purchasing an additional 1,149,733 shares during the last quarter. Finally, GW&K Investment Management LLC grew its stake in Interface by 12.7% in the 4th quarter. GW&K Investment Management LLC now owns 993,413 shares of the textile maker’s stock valued at $27,736,000 after purchasing an additional 111,564 shares during the period. Institutional investors own 98.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TILE shares. Benchmark initiated coverage on Interface in a research report on Tuesday, May 19th. They set a “buy” rating and a $36.00 target price for the company. Barrington Research restated an “outperform” rating and set a $36.00 price target on shares of Interface in a research report on Friday, April 17th. Weiss Ratings restated a “buy (b-)” rating on shares of Interface in a report on Wednesday, June 17th. Wall Street Zen raised shares of Interface from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Finally, Zacks Research upgraded shares of Interface from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $36.00.

Insider Buying and Selling at Interface

In other news, CFO Bruce Andrew Hausmann sold 50,000 shares of Interface stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.66, for a total value of $1,483,000.00. Following the completion of the transaction, the chief financial officer directly owned 119,256 shares in the company, valued at approximately $3,537,132.96. The trade was a 29.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David B. Foshee sold 44,393 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $29.00, for a total value of $1,287,397.00. Following the sale, the vice president directly owned 175,014 shares in the company, valued at $5,075,406. This trade represents a 20.23% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.47% of the stock is currently owned by insiders.

Interface Stock Performance

NASDAQ TILE opened at $32.14 on Thursday. The firm has a market cap of $1.87 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 1.06 and a beta of 1.88. The company has a quick ratio of 1.16, a current ratio of 2.43 and a debt-to-equity ratio of 0.30. The company’s 50 day moving average is $30.75 and its 200-day moving average is $29.74. Interface, Inc. has a 12-month low of $20.37 and a 12-month high of $36.66.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Friday, May 8th. The textile maker reported $0.41 EPS for the quarter, topping the consensus estimate of $0.33 by $0.08. Interface had a net margin of 8.92% and a return on equity of 20.09%. The company had revenue of $331.04 million during the quarter, compared to the consensus estimate of $320.38 million. During the same period last year, the firm earned $0.25 EPS. Interface’s revenue for the quarter was up 11.3% on a year-over-year basis. Sell-side analysts predict that Interface, Inc. will post 2.11 earnings per share for the current year.

Interface Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, June 5th. Interface’s dividend payout ratio (DPR) is presently 5.61%.

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.