GW&K Investment Management LLC Decreases Stock Holdings in Interface, Inc. $TILE

GW&K Investment Management LLC reduced its stake in shares of Interface, Inc. (NASDAQ:TILE) by 21.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 881,849 shares of the textile maker’s stock after selling 245,623 shares during the period. GW&K Investment Management LLC owned 1.51% of Interface worth $25,521,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. TD Private Client Wealth LLC purchased a new stake in Interface in the 3rd quarter valued at $32,000. Blue Trust Inc. acquired a new position in shares of Interface during the 3rd quarter valued at about $34,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Interface in the second quarter valued at about $35,000. Richardson Financial Services Inc. increased its position in Interface by 166.4% during the third quarter. Richardson Financial Services Inc. now owns 1,569 shares of the textile maker’s stock worth $45,000 after purchasing an additional 980 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in Interface by 63.3% during the third quarter. Global Retirement Partners LLC now owns 1,759 shares of the textile maker’s stock worth $51,000 after purchasing an additional 682 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

Interface Trading Down 3.0%

NASDAQ TILE opened at $28.14 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.18 and a current ratio of 2.34. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 0.94 and a beta of 1.87. The firm has a 50 day simple moving average of $31.18 and a 200-day simple moving average of $28.74. Interface, Inc. has a one year low of $17.24 and a one year high of $35.11.

Interface (NASDAQ:TILE) last announced its quarterly earnings data on Tuesday, February 24th. The textile maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.09. Interface had a return on equity of 19.54% and a net margin of 8.37%.The business had revenue of $349.39 million for the quarter, compared to analysts’ expectations of $350.54 million. During the same period last year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities research analysts anticipate that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be issued a dividend of $0.03 per share. This is a boost from Interface’s previous quarterly dividend of $0.02. The ex-dividend date is Friday, March 27th. This represents a $0.12 annualized dividend and a yield of 0.4%. Interface’s dividend payout ratio (DPR) is presently 4.08%.

Insider Activity at Interface

In other news, VP James Poppens sold 5,000 shares of Interface stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $28.11, for a total transaction of $140,550.00. Following the completion of the sale, the vice president directly owned 111,846 shares of the company’s stock, valued at approximately $3,143,991.06. The trade was a 4.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 17,650 shares of company stock valued at $511,892. Corporate insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Zacks Research lowered shares of Interface from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Wall Street Zen downgraded Interface from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 1st. Barrington Research increased their price target on Interface from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Finally, Weiss Ratings raised Interface from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Interface has a consensus rating of “Moderate Buy” and an average target price of $36.00.

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.