Westover Capital Advisors LLC Buys Shares of 62,478 Interface, Inc. $TILE

Westover Capital Advisors LLC bought a new stake in Interface, Inc. (NASDAQ:TILE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 62,478 shares of the textile maker’s stock, valued at approximately $1,744,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. American Century Companies Inc. boosted its holdings in Interface by 5.5% in the 3rd quarter. American Century Companies Inc. now owns 2,412,549 shares of the textile maker’s stock valued at $69,819,000 after purchasing an additional 126,263 shares during the last quarter. Congress Asset Management Co. boosted its holdings in Interface by 3.3% in the 4th quarter. Congress Asset Management Co. now owns 2,629,174 shares of the textile maker’s stock valued at $73,407,000 after purchasing an additional 84,793 shares during the last quarter. SummerHaven Investment Management LLC acquired a new position in Interface in the 3rd quarter valued at about $1,102,000. JPMorgan Chase & Co. boosted its holdings in Interface by 43.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 289,092 shares of the textile maker’s stock valued at $8,366,000 after purchasing an additional 87,462 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Interface by 2,333.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 280,986 shares of the textile maker’s stock valued at $7,845,000 after purchasing an additional 269,439 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Interface

In other news, VP James Poppens sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were 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 in the company, valued at approximately $3,515,572.32. This represents a 7.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP David B. Foshee sold 44,393 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $29.00, for a total transaction of $1,287,397.00. Following the completion of the transaction, the vice president owned 175,014 shares in the company, valued at approximately $5,075,406. This represents a 20.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 70,043 shares of company stock worth $2,023,689. Company insiders own 2.47% of the company’s stock.

Wall Street Analyst Weigh In

TILE has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Barrington Research reiterated an “outperform” rating and issued a $36.00 target price on shares of Interface in a report on Friday, April 17th. Weiss Ratings upgraded shares of Interface from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 20th. Finally, Benchmark started coverage on shares of Interface in a report on Tuesday, May 19th. They issued a “buy” rating and a $36.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Interface presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Interface Stock Performance

Shares of TILE stock opened at $28.81 on Monday. The firm’s 50 day moving average price is $27.07 and its 200-day moving average price is $28.58. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.16 and a current ratio of 2.43. Interface, Inc. has a one year low of $18.74 and a one year high of $35.11. The firm has a market cap of $1.67 billion, a P/E ratio of 13.46, a P/E/G ratio of 0.91 and a beta of 1.92.

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

Interface Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, June 5th. Interface’s dividend payout ratio is currently 5.61%.

About Interface

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.