Y Intercept Hong Kong Ltd Makes New $276,000 Investment in Interface, Inc. $TILE

Y Intercept Hong Kong Ltd bought a new stake in Interface, Inc. (NASDAQ:TILE) in the second quarter, HoldingsChannel reports. The fund bought 13,164 shares of the textile maker’s stock, valued at approximately $276,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Interface by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 6,159,773 shares of the textile maker’s stock worth $122,210,000 after acquiring an additional 43,309 shares during the period. Congress Asset Management Co. boosted its stake in shares of Interface by 9.1% in the second quarter. Congress Asset Management Co. now owns 2,473,541 shares of the textile maker’s stock valued at $51,771,000 after purchasing an additional 206,962 shares during the period. American Century Companies Inc. grew its holdings in Interface by 11.1% during the 1st quarter. American Century Companies Inc. now owns 2,214,325 shares of the textile maker’s stock valued at $43,932,000 after purchasing an additional 222,029 shares in the last quarter. GW&K Investment Management LLC increased its stake in Interface by 15.0% during the 1st quarter. GW&K Investment Management LLC now owns 1,183,961 shares of the textile maker’s stock worth $23,490,000 after buying an additional 154,872 shares during the period. Finally, Nuveen LLC acquired a new position in Interface in the 1st quarter worth $15,505,000. 98.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Barrington Research restated an “outperform” rating and set a $32.00 target price on shares of Interface in a research note on Friday, October 31st. Zacks Research raised Interface from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Weiss Ratings upgraded Interface from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Finally, Wall Street Zen raised Interface from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $32.00.

Interface Trading Down 0.1%

NASDAQ:TILE opened at $25.76 on Friday. The company has a market cap of $1.50 billion, a PE ratio of 15.90, a P/E/G ratio of 1.04 and a beta of 2.07. The business’s 50 day moving average is $27.62 and its two-hundred day moving average is $23.82. The company has a quick ratio of 1.59, a current ratio of 2.88 and a debt-to-equity ratio of 0.53. Interface, Inc. has a 52 week low of $17.24 and a 52 week high of $30.20.

Interface (NASDAQ:TILE) last posted its quarterly earnings results on Friday, October 31st. The textile maker reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.15. The business had revenue of $364.53 million for the quarter, compared to analyst estimates of $358.19 million. Interface had a return on equity of 18.97% and a net margin of 7.08%.The business’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.48 EPS. Interface has set its FY 2025 guidance at EPS. On average, analysts predict that Interface, Inc. will post 1.37 EPS for the current year.

Interface Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were given a dividend of $0.02 per share. 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, August 29th. Interface’s dividend payout ratio is currently 4.17%.

Insider Activity

In other news, VP James Poppens sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $26.14, for a total transaction of $130,700.00. Following the completion of the transaction, the vice president directly owned 124,616 shares of the company’s stock, valued at approximately $3,257,462.24. This represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Bruce Andrew Hausmann sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $26.95, for a total value of $673,750.00. Following the completion of the sale, the chief financial officer directly owned 145,403 shares in the company, valued at approximately $3,918,610.85. This trade represents a 14.67% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.30% of the stock is owned by corporate insiders.

Interface 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.