Interface, Inc. $TILE Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Interface, Inc. (NASDAQ:TILE) by 22.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 139,334 shares of the textile maker’s stock after buying an additional 25,601 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.24% of Interface worth $4,994,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Interface in the second quarter valued at approximately $338,055,000. Dimensional Fund Advisors LP grew its stake in Interface by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,689,857 shares of the textile maker’s stock worth $75,105,000 after buying an additional 36,530 shares during the period. State Street Corp increased its holdings in Interface by 0.7% in the 4th quarter. State Street Corp now owns 2,192,472 shares of the textile maker’s stock valued at $61,214,000 after purchasing an additional 14,764 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of 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 valued at $56,071,000 after buying an additional 1,149,733 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Interface in the second quarter valued at approximately $66,077,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Insider Buying and Selling at Interface

In related news, CEO Laurel Hurd sold 7,000 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $39.09, for a total value of $273,630.00. Following the sale, the chief executive officer owned 506,978 shares of the company’s stock, valued at $19,817,770.02. The trade was a 1.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel T. Hendrix sold 8,000 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $37.13, for a total transaction of $297,040.00. Following the completion of the sale, the director owned 88,147 shares in the company, valued at $3,272,898.11. This represents a 8.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 15,170 shares of company stock valued at $577,322. 2.47% of the stock is owned by company insiders.

Interface Stock Down 2.6%

TILE stock opened at $34.51 on Thursday. The company has a current ratio of 2.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.29. Interface, Inc. has a 1 year low of $24.40 and a 1 year high of $40.50. The company has a fifty day simple moving average of $35.70 and a 200 day simple moving average of $31.29. The firm has a market cap of $2.00 billion, a PE ratio of 13.97, a PEG ratio of 1.00 and a beta of 1.92.

Interface (NASDAQ:TILE) last posted its quarterly earnings data on Friday, August 7th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.24. The business had revenue of $395.70 million during the quarter, compared to the consensus estimate of $391.22 million. Interface had a net margin of 10.10% and a return on equity of 21.77%. Interface’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 EPS. Sell-side analysts anticipate that Interface, Inc. will post 2.36 EPS for the current fiscal year.

Interface Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Interface’s dividend payout ratio is presently 4.86%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TILE. Barrington Research raised their target price on Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Zacks Research upgraded shares of Interface from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 26th. Wall Street Zen lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of Interface from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Finally, Benchmark initiated coverage on shares of Interface in a report on Tuesday, May 19th. They issued a “buy” rating and a $36.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to MarketBeat.com, Interface presently has an average rating of “Buy” and an average target price of $40.50.

Interface Company 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.