Interface, Inc. (NASDAQ:TILE) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP boosted its position in Interface, Inc. (NASDAQ:TILE) by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,508,961 shares of the textile maker’s stock after buying an additional 12,847 shares during the quarter. Wellington Management Group LLP owned 4.32% of Interface worth $31,663,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Aristeia Capital LLC acquired a new position in Interface in the 3rd quarter worth $101,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Interface by 21.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,465 shares of the textile maker’s stock worth $233,000 after buying an additional 3,230 shares in the last quarter. Arjuna Capital acquired a new position in Interface in the 4th quarter worth $257,000. Gendell Jeffrey L acquired a new position in Interface in the 4th quarter worth $277,000. Finally, Acadian Asset Management LLC acquired a new position in Interface in the 3rd quarter worth $278,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Insider Transactions at Interface

In related news, Director Daniel T. Hendrix sold 12,500 shares of Interface stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $15.05, for a total value of $188,125.00. Following the sale, the director now directly owns 258,647 shares in the company, valued at approximately $3,892,637.35. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Interface news, VP Stansfield Nigel sold 19,990 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $16.24, for a total value of $324,637.60. Following the completion of the transaction, the vice president now owns 181,855 shares in the company, valued at approximately $2,953,325.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel T. Hendrix sold 12,500 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $15.05, for a total transaction of $188,125.00. Following the completion of the transaction, the director now owns 258,647 shares of the company’s stock, valued at approximately $3,892,637.35. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Interface Price Performance

Shares of NASDAQ:TILE opened at $14.91 on Tuesday. The company has a market cap of $868.36 million, a PE ratio of 14.76, a P/E/G ratio of 0.83 and a beta of 2.00. Interface, Inc. has a fifty-two week low of $8.21 and a fifty-two week high of $18.47. The firm has a 50-day simple moving average of $15.46 and a 200 day simple moving average of $14.41. The company has a quick ratio of 1.30, a current ratio of 2.72 and a debt-to-equity ratio of 0.89.

Interface (NASDAQ:TILE) last issued its earnings results on Friday, May 3rd. The textile maker reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.12. Interface had a return on equity of 16.94% and a net margin of 4.73%. The company had revenue of $289.70 million during the quarter, compared to the consensus estimate of $284.76 million. During the same period in the previous year, the firm posted $0.07 earnings per share. Interface’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Interface, Inc. will post 1.18 EPS for the current year.

Interface Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Friday, May 31st. Interface’s dividend payout ratio (DPR) is 3.96%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TILE. TheStreet upgraded shares of Interface from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th. Barrington Research restated an “outperform” rating and issued a $22.00 target price on shares of Interface in a research note on Monday, June 17th. Finally, Truist Financial upped their target price on shares of Interface from $10.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th.

Interface Company 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.