AlphaQuest LLC Increases Stock Position in Interface, Inc. $TILE

AlphaQuest LLC lifted its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 184.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,767 shares of the textile maker’s stock after purchasing an additional 7,629 shares during the period. AlphaQuest LLC’s holdings in Interface were worth $246,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of TILE. Ethic Inc. increased its position in Interface by 6.2% during the second quarter. Ethic Inc. now owns 11,797 shares of the textile maker’s stock worth $249,000 after buying an additional 686 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Interface in the 2nd quarter valued at about $87,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Interface in the 2nd quarter valued at about $527,000. Allianz Asset Management GmbH boosted its stake in shares of Interface by 12.5% during the 2nd quarter. Allianz Asset Management GmbH now owns 567,138 shares of the textile maker’s stock worth $11,870,000 after purchasing an additional 63,112 shares during the last quarter. Finally, Moran Wealth Management LLC grew its holdings in shares of Interface by 11.0% during the second quarter. Moran Wealth Management LLC now owns 11,426 shares of the textile maker’s stock worth $239,000 after buying an additional 1,131 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Interface Stock Performance

Interface stock opened at $24.90 on Friday. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 1.04 and a beta of 2.07. Interface, Inc. has a 12 month low of $17.24 and a 12 month high of $30.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.88 and a quick ratio of 1.59. The stock’s 50-day moving average is $27.72 and its 200-day moving average is $23.55.

Interface (NASDAQ:TILE) last posted its earnings results on Friday, October 31st. The textile maker reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $358.19 million. During the same quarter in the prior year, the company earned $0.48 EPS. The company’s revenue was up 5.9% on a year-over-year basis. Interface has set its FY 2025 guidance at EPS. Equities analysts anticipate that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, August 29th. Interface’s dividend payout ratio (DPR) is currently 4.94%.

Insider Activity at Interface

In other Interface news, VP James Poppens sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $26.14, for a total value of $130,700.00. Following the transaction, the vice president directly owned 124,616 shares of the company’s stock, valued at $3,257,462.24. This trade represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Bruce Andrew Hausmann sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $26.95, for a total value of $673,750.00. Following the transaction, the chief financial officer owned 145,403 shares in the company, valued at approximately $3,918,610.85. This represents a 14.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 109,497 shares of company stock worth $2,839,573. 2.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on TILE. Barrington Research reissued an “outperform” rating and set a $32.00 price objective on shares of Interface in a research note on Friday. Zacks Research lowered Interface from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. Wall Street Zen downgraded Interface from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 18th. Finally, Weiss Ratings upgraded Interface from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.00.

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.