Empowered Funds LLC Buys Shares of 93,960 Interface, Inc. $TILE

Empowered Funds LLC bought a new stake in Interface, Inc. (NASDAQ:TILE) during the 2nd quarter, Holdings Channel reports. The fund bought 93,960 shares of the textile maker’s stock, valued at approximately $3,368,000.

Other institutional investors also recently modified their holdings of the company. Royal Bank of Canada raised its stake in shares of Interface by 8.4% during the first quarter. Royal Bank of Canada now owns 19,657 shares of the textile maker’s stock worth $390,000 after buying an additional 1,522 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Interface by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,118 shares of the textile maker’s stock valued at $677,000 after buying an additional 1,485 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Interface by 5.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker’s stock valued at $14,854,000 after acquiring an additional 42,011 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Interface by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 151,950 shares of the textile maker’s stock worth $3,015,000 after purchasing an additional 9,580 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Interface by 24.7% during the second quarter. JPMorgan Chase & Co. now owns 201,630 shares of the textile maker’s stock worth $4,220,000 after purchasing an additional 39,941 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

Wall Street Analysts Forecast Growth

TILE has been the topic of several analyst reports. Benchmark initiated coverage on Interface in a research note on Tuesday, May 19th. They issued a “buy” rating and a $36.00 target price on the stock. Weiss Ratings upgraded shares of Interface from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Wall Street Zen lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Barrington Research upped their target price on shares of Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Finally, Zacks Research upgraded shares of Interface from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat.com, Interface presently has an average rating of “Buy” and an average target price of $40.50.

Insider Buying and Selling at Interface

In other news, CEO Laurel Hurd sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $39.09, for a total value of $273,630.00. Following the completion of the transaction, the chief executive officer owned 506,978 shares in the company, valued at $19,817,770.02. This represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.47% of the stock is owned by company insiders.

Interface Stock Down 2.4%

Shares of Interface stock opened at $37.00 on Wednesday. The company has a market capitalization of $2.15 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 1.07 and a beta of 1.92. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.53 and a quick ratio of 1.35. The business has a 50-day moving average of $35.61 and a two-hundred day moving average of $31.17. Interface, Inc. has a 1 year low of $24.40 and a 1 year high of $40.50.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Friday, August 7th. The textile maker reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.24. Interface had a return on equity of 21.77% and a net margin of 10.10%.The business had revenue of $395.70 million for the quarter, compared to analysts’ expectations of $391.22 million. During the same quarter in the previous year, the business posted $0.60 EPS. Interface’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities analysts predict that Interface, Inc. will post 2.36 EPS for the current year.

Interface Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. Interface’s payout ratio is presently 4.86%.

Interface 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.