HB Wealth Management LLC Buys New Holdings in Interface, Inc. $TILE

HB Wealth Management LLC purchased a new position in shares of Interface, Inc. (NASDAQ:TILE) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 40,104 shares of the textile maker’s stock, valued at approximately $1,161,000. HB Wealth Management LLC owned 0.07% of Interface as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in shares of Interface by 8.4% during the first quarter. Royal Bank of Canada now owns 19,657 shares of the textile maker’s stock worth $390,000 after purchasing an additional 1,522 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Interface by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,118 shares of the textile maker’s stock valued at $677,000 after purchasing an additional 1,485 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Interface by 5.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker’s stock valued at $14,854,000 after purchasing an additional 42,011 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Interface by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 151,950 shares of the textile maker’s stock worth $3,015,000 after buying an additional 9,580 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Interface in the first quarter valued at $488,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TILE shares. Wall Street Zen downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 16th. Barrington Research reissued an “outperform” rating and set a $32.00 price objective on shares of Interface in a report on Friday, October 31st. Weiss Ratings lowered Interface from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, December 24th. Finally, Zacks Research downgraded Interface from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $32.00.

Interface Price Performance

Interface stock opened at $30.06 on Monday. Interface, Inc. has a 52 week low of $17.24 and a 52 week high of $30.20. The company’s 50 day moving average price is $27.54 and its two-hundred day moving average price is $26.27. The stock has a market cap of $1.76 billion, a P/E ratio of 15.66, a P/E/G ratio of 1.00 and a beta of 1.90. The company has a quick ratio of 1.70, a current ratio of 2.89 and a debt-to-equity ratio of 0.49.

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

Interface Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were issued 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, November 28th. Interface’s payout ratio is 4.17%.

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.