Congress Asset Management Co. Boosts Holdings in Interface, Inc. $TILE

Congress Asset Management Co. grew its stake in shares of Interface, Inc. (NASDAQ:TILE) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,544,381 shares of the textile maker’s stock after acquiring an additional 70,840 shares during the quarter. Congress Asset Management Co. owned about 4.36% of Interface worth $73,634,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. IFP Advisors Inc increased its position in Interface by 2,695.2% during the second quarter. IFP Advisors Inc now owns 1,174 shares of the textile maker’s stock worth $25,000 after purchasing an additional 1,132 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of Interface during the 2nd quarter valued at $35,000. Virtus Advisers LLC acquired a new stake in shares of Interface during the 1st quarter worth $57,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Interface in the 2nd quarter worth $87,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Interface by 399.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,763 shares of the textile maker’s stock valued at $121,000 after acquiring an additional 4,608 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Wall Street Zen lowered Interface from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 16th. Weiss Ratings raised shares of Interface from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Zacks Research upgraded shares of Interface from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Barrington Research reiterated an “outperform” rating and set a $32.00 price objective on shares of Interface in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $32.00.

Interface Stock Performance

Shares of NASDAQ:TILE opened at $27.93 on Friday. The business’s 50-day simple moving average is $27.12 and its 200 day simple moving average is $25.37. The company has a market cap of $1.63 billion, a P/E ratio of 14.55, a PEG ratio of 1.01 and a beta of 1.94. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.70 and a current ratio of 2.89. Interface, Inc. has a one year low of $17.24 and a one year high of $30.20.

Interface (NASDAQ:TILE) last posted its quarterly earnings data on Friday, October 31st. The textile maker reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.15. Interface had a net margin of 8.27% and a return on equity of 19.30%. The company had revenue of $364.53 million for the quarter, compared to analyst estimates of $358.19 million. During the same quarter last year, the firm posted $0.48 earnings per share. The business’s quarterly revenue was up 5.9% on a year-over-year basis. On average, sell-side analysts forecast that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were issued a $0.02 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.08 dividend on an annualized basis and a yield of 0.3%. Interface’s payout ratio is currently 4.17%.

Interface 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.