Allspring Global Investments Holdings LLC Makes New $228,000 Investment in Interface, Inc. (NASDAQ:TILE)

Allspring Global Investments Holdings LLC acquired a new stake in shares of Interface, Inc. (NASDAQ:TILE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,350 shares of the textile maker’s stock, valued at approximately $228,000.

Several other institutional investors have also recently made changes to their positions in TILE. Foundry Partners LLC bought a new stake in Interface in the 3rd quarter valued at about $4,308,000. Barclays PLC grew its position in Interface by 688.5% in the 3rd quarter. Barclays PLC now owns 256,987 shares of the textile maker’s stock valued at $4,873,000 after purchasing an additional 224,395 shares during the period. Weiss Asset Management LP bought a new stake in Interface during the 3rd quarter valued at $4,206,000. Jane Street Group LLC raised its holdings in Interface by 176.7% during the third quarter. Jane Street Group LLC now owns 158,352 shares of the textile maker’s stock worth $3,004,000 after buying an additional 101,114 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of Interface in the third quarter valued at $1,661,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Insider Activity at Interface

In other news, VP David B. Foshee sold 15,175 shares of Interface stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $26.27, for a total value of $398,647.25. Following the completion of the transaction, the vice president now owns 202,398 shares in the company, valued at $5,316,995.46. This trade represents a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel T. Hendrix sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $23.78, for a total transaction of $297,250.00. Following the sale, the director now owns 103,647 shares in the company, valued at $2,464,725.66. The trade was a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,175 shares of company stock worth $1,471,087. Insiders own 2.60% of the company’s stock.

Interface Price Performance

Shares of NASDAQ TILE opened at $18.87 on Wednesday. The company has a market capitalization of $1.10 billion, a PE ratio of 13.20, a PEG ratio of 0.96 and a beta of 2.10. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average price is $23.84 and its 200-day moving average price is $21.91. Interface, Inc. has a twelve month low of $13.15 and a twelve month high of $27.34.

Interface (NASDAQ:TILE) last posted its quarterly earnings data on Tuesday, February 25th. The textile maker reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Interface had a net margin of 6.49% and a return on equity of 19.91%. The business had revenue of $335.00 million during the quarter, compared to the consensus estimate of $340.51 million. During the same quarter last year, the company posted $0.41 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities analysts anticipate that Interface, Inc. will post 1.37 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Barrington Research reissued an “outperform” rating and set a $30.00 target price on shares of Interface in a research report on Tuesday. StockNews.com raised Interface from a “buy” rating to a “strong-buy” rating in a report on Monday.

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.