Louisiana State Employees Retirement System Invests $645,000 in Interface, Inc. $TILE

Louisiana State Employees Retirement System bought a new stake in Interface, Inc. (NASDAQ:TILE) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 25,900 shares of the textile maker’s stock, valued at approximately $645,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. ProShare Advisors LLC lifted its stake in Interface by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 11,282 shares of the textile maker’s stock valued at $315,000 after acquiring an additional 349 shares during the period. Larson Financial Group LLC increased its stake in shares of Interface by 30.8% in the fourth quarter. Larson Financial Group LLC now owns 1,538 shares of the textile maker’s stock worth $43,000 after acquiring an additional 362 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of Interface by 0.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 58,483 shares of the textile maker’s stock worth $1,560,000 after purchasing an additional 403 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Interface by 1.5% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 30,695 shares of the textile maker’s stock worth $857,000 after purchasing an additional 452 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Interface by 2.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,953 shares of the textile maker’s stock valued at $722,000 after purchasing an additional 495 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

Insider Buying and Selling

In other news, CFO Bruce Andrew Hausmann sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $29.66, for a total transaction 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 $3,537,132.96. This represents a 29.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP David B. Foshee sold 44,393 shares of Interface stock in a transaction on Monday, May 18th. The shares were sold at an average price of $29.00, for a total transaction of $1,287,397.00. Following the completion of the sale, the vice president directly owned 175,014 shares in the company, valued at $5,075,406. This represents a 20.23% decrease in their position. The SEC filing for this sale provides additional information. 2.47% of the stock is owned by insiders.

Interface Stock Down 3.4%

TILE opened at $33.64 on Wednesday. The company has a fifty day moving average of $30.67 and a two-hundred day moving average of $29.71. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 1.10 and a beta of 1.88. Interface, Inc. has a fifty-two week low of $20.37 and a fifty-two week high of $36.66. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.16 and a current ratio of 2.43.

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

Interface Announces Dividend

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

Analysts Set New Price Targets

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

About Interface

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.