Counterpoint Mutual Funds LLC Takes Position in Interface, Inc. $TILE

Counterpoint Mutual Funds LLC acquired a new stake in shares of Interface, Inc. (NASDAQ:TILE) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 22,492 shares of the textile maker’s stock, valued at approximately $561,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Y Intercept Hong Kong Ltd acquired a new stake in Interface during the first quarter worth about $344,000. Strs Ohio acquired a new position in Interface in the first quarter valued at approximately $725,000. Inspire Investing LLC boosted its stake in Interface by 22.5% in the first quarter. Inspire Investing LLC now owns 20,548 shares of the textile maker’s stock valued at $512,000 after acquiring an additional 3,773 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of Interface during the first quarter valued at approximately $645,000. Finally, Diversified Trust Co grew its holdings in shares of Interface by 8.1% during the first quarter. Diversified Trust Co now owns 19,301 shares of the textile maker’s stock valued at $481,000 after purchasing an additional 1,438 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Analysts Set New Price Targets

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

Interface Price Performance

Shares of NASDAQ:TILE opened at $35.67 on Friday. The firm’s 50 day moving average is $30.42 and its two-hundred day moving average is $29.62. Interface, Inc. has a 52 week low of $20.37 and a 52 week high of $36.66. The firm has a market capitalization of $2.07 billion, a P/E ratio of 16.67, a PEG ratio of 1.13 and a beta of 1.88. 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) last released its quarterly earnings results on Friday, May 8th. The textile maker reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.08. The company had revenue of $331.04 million for the quarter, compared to analysts’ expectations of $320.38 million. Interface had a return on equity of 20.09% and a net margin of 8.92%.The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 earnings per share. Analysts anticipate that Interface, Inc. will post 2.11 earnings per share for the current year.

Interface Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.12 annualized dividend and a yield of 0.3%. Interface’s payout ratio is presently 5.61%.

Insider Buying and Selling at Interface

In other Interface news, VP David B. Foshee sold 44,393 shares of the business’s stock in a transaction on 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 completion of the transaction, the vice president owned 175,014 shares in the company, valued at approximately $5,075,406. The trade was a 20.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Bruce Andrew Hausmann sold 50,000 shares of the 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 of the company’s stock, valued at approximately $3,537,132.96. The trade was a 29.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.47% of the stock is owned by insiders.

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.