JPMorgan Chase & Co. Acquires 87,462 Shares of Interface, Inc. $TILE

JPMorgan Chase & Co. boosted its stake in Interface, Inc. (NASDAQ:TILE) by 43.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 289,092 shares of the textile maker’s stock after acquiring an additional 87,462 shares during the period. JPMorgan Chase & Co. owned 0.50% of Interface worth $8,366,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Congress Asset Management Co. boosted its stake in shares of Interface by 2.9% during the 3rd quarter. Congress Asset Management Co. now owns 2,544,381 shares of the textile maker’s stock valued at $73,634,000 after purchasing an additional 70,840 shares in the last quarter. American Century Companies Inc. increased its position in shares of Interface by 5.5% during the third quarter. American Century Companies Inc. now owns 2,412,549 shares of the textile maker’s stock valued at $69,819,000 after buying an additional 126,263 shares during the period. Goldman Sachs Group Inc. raised its stake in Interface by 5.9% in the first quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker’s stock worth $14,854,000 after buying an additional 42,011 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in Interface by 2.1% in the third quarter. Qube Research & Technologies Ltd now owns 646,357 shares of the textile maker’s stock worth $18,706,000 after buying an additional 13,095 shares during the period. Finally, Clark Capital Management Group Inc. lifted its holdings in Interface by 67.9% in the third quarter. Clark Capital Management Group Inc. now owns 623,295 shares of the textile maker’s stock worth $18,038,000 after buying an additional 252,157 shares during the period. Institutional investors own 98.34% of the company’s stock.

Interface Price Performance

TILE opened at $24.73 on Monday. The firm has a market cap of $1.43 billion, a PE ratio of 12.62, a P/E/G ratio of 0.80 and a beta of 1.87. The stock has a 50-day moving average price of $30.27 and a 200-day moving average price of $28.70. Interface, Inc. has a 1 year low of $17.24 and a 1 year high of $35.11. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.34 and a quick ratio of 1.18.

Interface (NASDAQ:TILE) last announced its quarterly earnings data on Tuesday, February 24th. The textile maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.40 by $0.09. The company had revenue of $349.39 million for the quarter, compared to the consensus estimate of $350.54 million. Interface had a net margin of 8.37% and a return on equity of 19.54%. Interface’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 EPS. Sell-side analysts predict that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, March 27th. This is an increase from Interface’s previous quarterly dividend of $0.02. Interface’s dividend payout ratio (DPR) is presently 6.12%.

Insiders Place Their Bets

In related news, VP James Poppens sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $29.42, for a total value of $294,200.00. Following the transaction, the vice president directly owned 119,496 shares of the company’s stock, valued at approximately $3,515,572.32. This represents a 7.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 25,650 shares of company stock valued at $736,292. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TILE. Weiss Ratings upgraded Interface from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 20th. Wall Street Zen lowered Interface from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 17th. Barrington Research upped their price target on Interface from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Finally, Zacks Research downgraded Interface from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $36.00.

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.