Wellington Management Group LLP Grows Position in Interface, Inc. $TILE

Wellington Management Group LLP grew its stake in Interface, Inc. (NASDAQ:TILE) by 91.6% during the 2nd quarter, Holdings Channel reports. The fund owned 294,389 shares of the textile maker’s stock after acquiring an additional 140,745 shares during the period. Wellington Management Group LLP’s holdings in Interface were worth $10,551,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. CIBC Private Wealth Group LLC increased its position in Interface by 180.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker’s stock worth $27,000 after purchasing an additional 631 shares in the last quarter. Larson Financial Group LLC raised its stake in Interface by 114.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker’s stock valued at $34,000 after purchasing an additional 628 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in Interface in the 2nd quarter valued at about $35,000. Allworth Financial LP purchased a new position in Interface in the 2nd quarter valued at about $36,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Interface during the 2nd quarter worth about $39,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Interface Price Performance

Shares of Interface stock opened at $37.24 on Tuesday. Interface, Inc. has a twelve month low of $24.40 and a twelve month high of $40.50. The stock has a market capitalization of $2.16 billion, a P/E ratio of 15.08, a PEG ratio of 1.05 and a beta of 1.92. The company has a current ratio of 2.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.29. The business’s fifty day moving average price is $35.74 and its 200 day moving average price is $31.27.

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

Interface Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a $0.03 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.12 annualized dividend and a yield of 0.3%. Interface’s dividend payout ratio (DPR) is presently 4.86%.

Insider Buying and Selling

In other news, Director Daniel T. Hendrix sold 8,000 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $37.13, for a total value of $297,040.00. Following the completion of the sale, the director owned 88,147 shares of the company’s stock, valued at $3,272,898.11. This represents a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Laurel Hurd sold 7,000 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $39.09, for a total transaction of $273,630.00. Following the completion of the transaction, the chief executive officer directly owned 506,978 shares in the company, valued at approximately $19,817,770.02. This represents a 1.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 15,170 shares of company stock worth $577,322. 2.47% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Benchmark assumed coverage on shares of Interface in a research report on Tuesday, May 19th. They set 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. Zacks Research raised shares of Interface from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 26th. Finally, Barrington Research boosted their price target on Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to data from MarketBeat.com, Interface currently has an average rating of “Buy” and a consensus price target of $40.50.

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.