Green Alpha Advisors LLC Purchases New Shares in Interface, Inc. $TILE

Green Alpha Advisors LLC bought a new stake in shares of Interface, Inc. (NASDAQ:TILE) in the 2nd quarter, Holdings Channel reports. The fund bought 69,097 shares of the textile maker’s stock, valued at approximately $2,476,000. Interface comprises approximately 1.7% of Green Alpha Advisors LLC’s portfolio, making the stock its 17th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in TILE. ProShare Advisors LLC increased its position in shares of Interface by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 11,282 shares of the textile maker’s stock worth $315,000 after purchasing an additional 349 shares during the last quarter. Larson Financial Group LLC increased its stake in Interface by 30.8% during the fourth quarter. Larson Financial Group LLC now owns 1,538 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 362 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Interface by 0.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 58,483 shares of the textile maker’s stock worth $1,560,000 after acquiring an additional 403 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Interface by 1.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 30,695 shares of the textile maker’s stock worth $857,000 after purchasing an additional 452 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Interface by 2.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,953 shares of the textile maker’s stock worth $722,000 after buying an additional 495 shares during the period. Institutional investors own 98.34% of the company’s stock.

Insider Buying and Selling

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 stock was sold at an average price of $29.66, for a total value of $1,483,000.00. Following the transaction, the chief financial officer directly owned 119,256 shares of the company’s stock, valued at $3,537,132.96. This represents a 29.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.47% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings raised Interface from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Benchmark started coverage on shares of Interface in a research report on Tuesday, May 19th. They set a “buy” rating and a $36.00 price objective for the company. Zacks Research lowered shares of Interface from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. Barrington Research raised their target price on shares of Interface from $36.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Finally, Wall Street Zen lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.50.

Interface Stock Down 0.4%

Shares of NASDAQ:TILE opened at $38.94 on Friday. The company has a market cap of $2.26 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 1.10 and a beta of 1.90. The firm has a 50 day simple moving average of $34.73 and a 200 day simple moving average of $30.97. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.35 and a current ratio of 2.53. Interface, Inc. has a 52 week low of $24.40 and a 52 week high of $40.50.

Interface (NASDAQ:TILE) last issued its quarterly earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.24. Interface had a return on equity of 21.77% and a net margin of 10.10%.The business had revenue of $395.70 million for the quarter, compared to the consensus estimate of $391.22 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. Interface’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, research analysts expect that Interface, Inc. will post 2.36 earnings per share for the current year.

Interface Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Interface’s payout ratio is currently 4.86%.

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.