Louisiana State Employees Retirement System Buys Shares of 25,900 Interface, Inc. $TILE

Louisiana State Employees Retirement System bought a new stake in Interface, Inc. (NASDAQ:TILE) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 25,900 shares of the textile maker’s stock, valued at approximately $645,000.

A number of other institutional investors have also recently made changes to their positions in TILE. CIBC Private Wealth Group LLC raised its stake in Interface by 180.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 631 shares during the last quarter. Larson Financial Group LLC boosted its stake in Interface by 114.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker’s stock worth $34,000 after purchasing an additional 628 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of Interface during the second quarter worth $35,000. Wexford Capital LP purchased a new stake in shares of Interface during the third quarter worth $43,000. Finally, Blue Trust Inc. raised its position in shares of Interface by 88.3% in the fourth quarter. Blue Trust Inc. now owns 2,199 shares of the textile maker’s stock valued at $61,000 after buying an additional 1,031 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, VP David B. Foshee sold 44,393 shares of the firm’s stock in a transaction 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 directly owned 175,014 shares in the company, valued at $5,075,406. This trade represents a 20.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Bruce Andrew Hausmann sold 50,000 shares of Interface stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.66, for a total value of $1,483,000.00. Following the completion of the sale, the chief financial officer directly owned 119,256 shares of the company’s stock, valued at $3,537,132.96. The trade was a 29.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.47% of the stock is owned by corporate insiders.

Interface Trading Down 3.4%

NASDAQ TILE opened at $33.64 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.43 and a quick ratio of 1.16. The stock has a market capitalization of $1.95 billion, a P/E ratio of 15.72, a PEG ratio of 1.10 and a beta of 1.88. The firm’s 50-day moving average is $30.67 and its two-hundred day moving average is $29.71. Interface, Inc. has a 12 month low of $20.37 and a 12 month high of $36.66.

Interface (NASDAQ:TILE) last announced its quarterly earnings results on Friday, May 8th. The textile maker reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.08. Interface had a net margin of 8.92% and a return on equity of 20.09%. The business had revenue of $331.04 million during the quarter, compared to analysts’ expectations of $320.38 million. During the same period last year, the business earned $0.25 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, sell-side analysts anticipate that Interface, Inc. will post 2.11 earnings per share for the current year.

Interface Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, June 5th. Interface’s dividend payout ratio is 5.61%.

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.