Interface, Inc. $TILE Shares Sold by Front Street Capital Management Inc.

Front Street Capital Management Inc. trimmed its position in Interface, Inc. (NASDAQ:TILE) by 26.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,127 shares of the textile maker’s stock after selling 16,925 shares during the quarter. Front Street Capital Management Inc. owned approximately 0.08% of Interface worth $1,199,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. ProShare Advisors LLC boosted its holdings in Interface by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 11,282 shares of the textile maker’s stock worth $315,000 after purchasing an additional 349 shares during the period. Larson Financial Group LLC raised its holdings in shares of Interface by 30.8% during the fourth quarter. Larson Financial Group LLC now owns 1,538 shares of the textile maker’s stock worth $43,000 after purchasing an additional 362 shares during the period. Los Angeles Capital Management LLC lifted its position in shares of Interface by 0.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 58,483 shares of the textile maker’s stock worth $1,560,000 after buying an additional 403 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Interface by 1.5% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 30,695 shares of the textile maker’s stock worth $857,000 after buying an additional 452 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Interface by 2.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,953 shares of the textile maker’s stock valued at $722,000 after buying an additional 495 shares during the period. 98.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Interface

In related news, VP David B. Foshee sold 44,393 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $29.00, for a total transaction of $1,287,397.00. Following the transaction, the vice president 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bruce Andrew Hausmann sold 50,000 shares of the business’s stock in a transaction that occurred on 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 directly 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. Company insiders own 2.47% of the company’s stock.

Interface Trading Up 0.8%

NASDAQ:TILE opened at $33.80 on Friday. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.06 and a beta of 1.88. 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 1 year low of $20.37 and a 1 year high of $36.66. The business has a fifty day moving average of $32.36 and a 200-day moving average of $30.25.

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

Interface Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TILE. Zacks Research downgraded shares of Interface from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Weiss Ratings reissued a “buy (b-)” rating on shares of Interface in a report on Wednesday, June 17th. Barrington Research restated an “outperform” rating and issued a $36.00 target price on shares of Interface in a research note on Friday, April 17th. Benchmark assumed coverage on Interface in a report on Tuesday, May 19th. They set a “buy” rating and a $36.00 target price for the company. Finally, Wall Street Zen upgraded Interface from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

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.