Baker Chad R Makes New $1.72 Million Investment in Interface, Inc. $TILE

Baker Chad R purchased a new stake in shares of Interface, Inc. (NASDAQ:TILE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 59,495 shares of the textile maker’s stock, valued at approximately $1,718,000. Baker Chad R owned about 0.10% of Interface as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Congress Asset Management Co. boosted its holdings in Interface by 3.3% during the fourth quarter. Congress Asset Management Co. now owns 2,629,174 shares of the textile maker’s stock valued at $73,407,000 after acquiring an additional 84,793 shares during the period. American Century Companies Inc. increased its stake in shares of Interface by 5.5% in the third quarter. American Century Companies Inc. now owns 2,412,549 shares of the textile maker’s stock worth $69,819,000 after purchasing an additional 126,263 shares during the period. Geode Capital Management LLC lifted its position in shares of Interface by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,433,183 shares of the textile maker’s stock worth $30,000,000 after purchasing an additional 10,537 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Interface by 5.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker’s stock worth $14,854,000 after purchasing an additional 42,011 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in Interface by 2.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 646,357 shares of the textile maker’s stock valued at $18,706,000 after purchasing an additional 13,095 shares during the period. Institutional investors own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

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

Interface Stock Down 1.9%

Shares of TILE opened at $25.16 on Friday. The company has a quick ratio of 1.18, a current ratio of 2.34 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $30.39 and a two-hundred day moving average price of $28.71. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 12.84, a P/E/G ratio of 0.83 and a beta of 1.87. Interface, Inc. has a 12 month low of $17.24 and a 12 month high of $35.11.

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

Interface Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.5%. This is a positive change from Interface’s previous quarterly dividend of $0.02. The ex-dividend date is Friday, March 27th. Interface’s dividend payout ratio (DPR) is currently 4.08%.

Insider Transactions at Interface

In other Interface news, VP James Poppens sold 10,000 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $29.42, for a total transaction of $294,200.00. Following the completion of the transaction, the vice president directly owned 119,496 shares in the company, valued at $3,515,572.32. This represents a 7.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 25,650 shares of company stock worth $736,292 in the last three months. Corporate insiders own 2.30% of the company’s stock.

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.