Counterpoint Mutual Funds LLC Makes New $561,000 Investment in Interface, Inc. $TILE

Counterpoint Mutual Funds LLC purchased a new position in Interface, Inc. (NASDAQ:TILE) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 22,492 shares of the textile maker’s stock, valued at approximately $561,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Y Intercept Hong Kong Ltd acquired a new position in shares of Interface during the first quarter valued at approximately $344,000. Strs Ohio acquired a new stake in Interface in the first quarter worth approximately $725,000. Inspire Investing LLC lifted its position in Interface by 22.5% in the first quarter. Inspire Investing LLC now owns 20,548 shares of the textile maker’s stock worth $512,000 after purchasing an additional 3,773 shares during the period. Louisiana State Employees Retirement System bought a new position in Interface during the 1st quarter valued at $645,000. Finally, Diversified Trust Co boosted its stake in Interface by 8.1% during the 1st quarter. Diversified Trust Co now owns 19,301 shares of the textile maker’s stock valued at $481,000 after purchasing an additional 1,438 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Zacks Research raised Interface from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Interface in a research note on Wednesday, June 17th. Benchmark initiated coverage on Interface in a report on Tuesday, May 19th. They set a “buy” rating and a $36.00 target price on the stock. Wall Street Zen upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Finally, Barrington Research reissued an “outperform” rating and issued a $36.00 price target on shares of Interface in a report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $36.00.

Interface Stock Performance

Interface stock opened at $35.67 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.16 and a current ratio of 2.43. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 1.13 and a beta of 1.88. Interface, Inc. has a 1 year low of $20.37 and a 1 year high of $36.66. The firm’s 50 day moving average price is $30.42 and its two-hundred day moving average price is $29.62.

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

Interface Announces Dividend

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

Insider Buying and Selling at Interface

In related news, VP David B. Foshee sold 44,393 shares of Interface 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 owned 175,014 shares of the company’s stock, valued at approximately $5,075,406. This trade represents a 20.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Bruce Andrew Hausmann sold 50,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $29.66, for a total value of $1,483,000.00. Following the sale, the chief financial officer owned 119,256 shares in the company, valued at approximately $3,537,132.96. The trade was a 29.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.47% 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.