First Trust Advisors LP Acquires 19,269 Shares of Interface, Inc. $TILE

First Trust Advisors LP boosted its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 20.1% in the first quarter, Holdings Channel.com reports. The fund owned 115,064 shares of the textile maker’s stock after buying an additional 19,269 shares during the quarter. First Trust Advisors LP’s holdings in Interface were worth $2,867,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TILE. Dimensional Fund Advisors LP grew its stake in shares of Interface by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,689,857 shares of the textile maker’s stock worth $75,105,000 after purchasing an additional 36,530 shares during the period. State Street Corp increased its holdings in Interface by 0.7% in the fourth quarter. State Street Corp now owns 2,192,472 shares of the textile maker’s stock valued at $61,214,000 after purchasing an additional 14,764 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Interface by 133.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker’s stock valued at $56,071,000 after buying an additional 1,149,733 shares during the period. GW&K Investment Management LLC lifted its stake in Interface by 12.7% in the fourth quarter. GW&K Investment Management LLC now owns 993,413 shares of the textile maker’s stock valued at $27,736,000 after buying an additional 111,564 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Interface by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 870,156 shares of the textile maker’s stock worth $24,295,000 after buying an additional 33,650 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

Insider Activity at Interface

In other news, CFO Bruce Andrew Hausmann sold 50,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.66, for a total transaction of $1,483,000.00. Following the completion of the sale, the chief financial officer owned 119,256 shares of the company’s stock, valued at $3,537,132.96. This represents a 29.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David B. Foshee sold 44,393 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $29.00, for a total value of $1,287,397.00. Following the transaction, the vice president directly owned 175,014 shares of the company’s stock, valued at $5,075,406. This represents a 20.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.47% of the company’s stock.

Interface Stock Down 0.3%

Shares of Interface stock opened at $35.10 on Friday. Interface, Inc. has a 1 year low of $24.40 and a 1 year high of $36.66. The business has a 50-day moving average of $32.91 and a two-hundred day moving average of $30.41. The company has a market capitalization of $2.04 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 1.11 and a beta of 1.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.43 and a quick ratio of 1.16.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Friday, May 8th. The textile maker reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.08. Interface had a return on equity of 20.09% and a net margin of 8.92%.The company had revenue of $331.04 million for the quarter, compared to analyst estimates of $320.38 million. During the same quarter last year, the firm posted $0.25 earnings per share. Interface’s revenue was up 11.3% compared to the same quarter last year. As a group, equities analysts predict that Interface, Inc. will post 2.11 EPS for the current year.

Interface Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date was Friday, June 5th. Interface’s dividend payout ratio (DPR) is 5.61%.

Analyst Ratings Changes

Several research firms have recently issued reports on TILE. Zacks Research lowered Interface from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Interface in a research report on Wednesday, June 17th. Benchmark began coverage on shares of Interface in a research note on Tuesday, May 19th. They set a “buy” rating and a $36.00 price objective on the stock. Wall Street Zen upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Interface in a research note on Friday, April 17th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.