Envestnet Asset Management Inc. Lowers Stock Position in Interface, Inc. $TILE

Envestnet Asset Management Inc. cut its stake in shares of Interface, Inc. (NASDAQ:TILE) by 5.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,797 shares of the textile maker’s stock after selling 5,473 shares during the period. Envestnet Asset Management Inc.’s holdings in Interface were worth $1,921,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. IFP Advisors Inc boosted its position in shares of Interface by 2,695.2% during the 2nd quarter. IFP Advisors Inc now owns 1,174 shares of the textile maker’s stock worth $25,000 after purchasing an additional 1,132 shares during the period. Virtus Advisers LLC acquired a new position in Interface during the first quarter worth $57,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Interface during the second quarter worth $87,000. RHS Financial LLC acquired a new stake in shares of Interface in the second quarter valued at $212,000. Finally, Moran Wealth Management LLC raised its holdings in shares of Interface by 11.0% in the 2nd quarter. Moran Wealth Management LLC now owns 11,426 shares of the textile maker’s stock valued at $239,000 after buying an additional 1,131 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TILE shares. Wall Street Zen cut Interface from a “strong-buy” rating to a “buy” rating in a report on Sunday. Barrington Research reissued an “outperform” rating and issued a $32.00 price objective on shares of Interface in a research note on Friday, October 31st. Weiss Ratings upgraded shares of Interface from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Finally, Zacks Research upgraded shares of Interface from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $32.00.

Insiders Place Their Bets

In other Interface news, CFO Bruce Andrew Hausmann sold 25,000 shares of Interface stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $26.95, for a total transaction of $673,750.00. Following the completion of the sale, the chief financial officer directly owned 145,403 shares of the company’s stock, valued at $3,918,610.85. The trade was a 14.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP James Poppens sold 5,000 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $26.14, for a total value of $130,700.00. Following the completion of the transaction, the vice president owned 124,616 shares in the company, valued at approximately $3,257,462.24. The trade was a 3.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.30% of the company’s stock.

Interface Stock Performance

Shares of Interface stock opened at $25.40 on Wednesday. The business has a 50-day simple moving average of $27.44 and a 200-day simple moving average of $24.21. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.59 and a current ratio of 2.88. Interface, Inc. has a one year low of $17.24 and a one year high of $30.20. The company has a market cap of $1.48 billion, a PE ratio of 15.68, a P/E/G ratio of 1.04 and a beta of 2.07.

Interface (NASDAQ:TILE) last issued its earnings results on Friday, October 31st. The textile maker reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.15. Interface had a net margin of 7.08% and a return on equity of 18.97%. The firm had revenue of $364.53 million for the quarter, compared to analysts’ expectations of $358.19 million. During the same quarter last year, the company earned $0.48 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year. Interface has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, November 28th. Interface’s payout ratio is 4.17%.

Interface Profile

Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.