130,688 Shares in Interface, Inc. $TILE Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new position in shares of Interface, Inc. (NASDAQ:TILE) in the first quarter, Holdings Channel reports. The fund purchased 130,688 shares of the textile maker’s stock, valued at approximately $3,257,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. CIBC Private Wealth Group LLC boosted its holdings in shares of Interface by 180.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker’s stock valued at $27,000 after acquiring an additional 631 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Interface by 114.6% in the third 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 during the period. Wexford Capital LP acquired a new stake in shares of Interface in the third quarter worth $43,000. EverSource Wealth Advisors LLC purchased a new position in shares of Interface during the second quarter worth $35,000. Finally, Blue Trust Inc. raised its holdings in shares of Interface by 88.3% during the fourth quarter. Blue Trust Inc. now owns 2,199 shares of the textile maker’s stock worth $61,000 after purchasing an additional 1,031 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TILE shares. Barrington Research reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Interface in a report on Friday, April 17th. Benchmark began coverage on Interface in a research report on Tuesday, May 19th. They set a “buy” rating and a $36.00 price target on the stock. Wall Street Zen upgraded Interface from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Zacks Research cut Interface from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Interface in a research note on Wednesday, June 17th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Interface Price Performance

NASDAQ:TILE opened at $34.26 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.43 and a quick ratio of 1.16. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 1.08 and a beta of 1.88. The company has a 50 day moving average price of $32.46 and a 200-day moving average price of $30.28. Interface, Inc. has a 1-year low of $20.37 and a 1-year high of $36.66.

Interface (NASDAQ:TILE) last posted 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. Interface had a net margin of 8.92% and a return on equity of 20.09%. The firm had revenue of $331.04 million during the quarter, compared to analysts’ expectations of $320.38 million. During the same period in the previous year, the business posted $0.25 EPS. The business’s revenue was up 11.3% compared to the same quarter last year. Equities research analysts forecast that Interface, Inc. will post 2.11 EPS for the current year.

Interface Announces Dividend

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

Insider Transactions at Interface

In other Interface news, CFO Bruce Andrew Hausmann sold 50,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $29.66, for a total value of $1,483,000.00. Following the completion of the transaction, the chief financial officer owned 119,256 shares in the company, valued at approximately $3,537,132.96. This represents a 29.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $1,287,397.00. Following the sale, the vice president directly owned 175,014 shares in the company, valued at approximately $5,075,406. The trade was a 20.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.47% of the company’s stock.

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.