Interface, Inc. $TILE Shares Sold by Front Street Capital Management Inc.

Front Street Capital Management Inc. trimmed its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 26.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,127 shares of the textile maker’s stock after selling 16,925 shares during the period. Front Street Capital Management Inc.’s holdings in Interface were worth $1,199,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC increased its holdings in shares of Interface by 180.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker’s stock valued at $27,000 after buying an additional 631 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Interface by 114.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker’s stock worth $34,000 after acquiring an additional 628 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Interface during the 2nd quarter worth $35,000. Wexford Capital LP bought a new stake in shares of Interface during the 3rd quarter worth $43,000. Finally, Blue Trust Inc. grew its holdings in shares of Interface by 88.3% in the 4th quarter. Blue Trust Inc. now owns 2,199 shares of the textile maker’s stock worth $61,000 after acquiring an additional 1,031 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TILE shares. Wall Street Zen raised Interface from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Benchmark started coverage on Interface in a research report on Tuesday, May 19th. They issued a “buy” rating and a $36.00 price target for the company. Zacks Research cut Interface from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Barrington Research restated an “outperform” rating and set a $36.00 price objective on shares of Interface in a report on Friday, April 17th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Interface in a research note on Wednesday, June 17th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Insiders Place Their Bets

In related news, CFO Bruce Andrew Hausmann sold 50,000 shares of the company’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 completion of the sale, the vice president directly owned 175,014 shares of the company’s stock, valued at approximately $5,075,406. This represents a 20.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.47% of the company’s stock.

Interface Trading Up 0.8%

Interface stock opened at $33.80 on Friday. Interface, Inc. has a 52 week low of $20.37 and a 52 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. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 1.06 and a beta of 1.88. The company has a 50 day moving average price of $32.36 and a 200 day moving average price of $30.25.

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

Interface Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were issued a dividend of $0.03 per share. 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 currently 5.61%.

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.