First Eagle Investment Management LLC Has $2.59 Million Position in Interface, Inc. (NASDAQ:TILE)

First Eagle Investment Management LLC raised its stake in Interface, Inc. (NASDAQ:TILE) by 46.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 176,617 shares of the textile maker’s stock after buying an additional 56,093 shares during the quarter. First Eagle Investment Management LLC owned 0.30% of Interface worth $2,593,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new position in shares of Interface during the 2nd quarter valued at $32,000. Allspring Global Investments Holdings LLC purchased a new position in Interface in the first quarter valued at about $57,000. GAMMA Investing LLC increased its position in Interface by 131.1% in the 1st quarter. GAMMA Investing LLC now owns 3,943 shares of the textile maker’s stock worth $66,000 after purchasing an additional 2,237 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Interface during the 2nd quarter worth about $91,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Interface during the 1st quarter valued at about $110,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Insider Activity

In related news, CFO Bruce Andrew Hausmann sold 55,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $17.00, for a total transaction of $935,000.00. Following the completion of the sale, the chief financial officer now owns 198,475 shares in the company, valued at approximately $3,374,075. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Interface news, Director Daniel T. Hendrix sold 10,347 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $14.43, for a total value of $149,307.21. Following the sale, the director now directly owns 248,300 shares in the company, valued at approximately $3,582,969. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Bruce Andrew Hausmann sold 55,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $17.00, for a total transaction of $935,000.00. Following the transaction, the chief financial officer now directly owns 198,475 shares of the company’s stock, valued at approximately $3,374,075. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 125,858 shares of company stock valued at $2,091,604. 2.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on TILE. StockNews.com raised shares of Interface from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th. Barrington Research restated an “outperform” rating and set a $22.00 price target on shares of Interface in a report on Friday.

Interface Stock Performance

Shares of NASDAQ TILE opened at $18.97 on Friday. The business’s 50-day simple moving average is $17.57 and its 200-day simple moving average is $16.27. Interface, Inc. has a 52 week low of $8.26 and a 52 week high of $19.45. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.45 and a current ratio of 2.76. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 18.78, a P/E/G ratio of 0.94 and a beta of 1.98.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Friday, August 2nd. The textile maker reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.12. The company had revenue of $346.60 million for the quarter, compared to analyst estimates of $340.21 million. Interface had a net margin of 5.20% and a return on equity of 18.42%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 earnings per share. As a group, equities research analysts expect that Interface, Inc. will post 1.28 earnings per share for the current fiscal year.

Interface Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.21%. The ex-dividend date was Friday, August 30th. Interface’s dividend payout ratio is currently 3.96%.

Interface Company 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.