Hillsdale Investment Management Inc. Buys 56,400 Shares of Interface, Inc. $TILE

Hillsdale Investment Management Inc. lifted its position in Interface, Inc. (NASDAQ:TILE) by 25.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,213 shares of the textile maker’s stock after acquiring an additional 56,400 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Interface were worth $5,865,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Interface by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 6,159,773 shares of the textile maker’s stock valued at $122,210,000 after buying an additional 43,309 shares during the last quarter. Congress Asset Management Co. raised its stake in shares of Interface by 9.1% during the 2nd quarter. Congress Asset Management Co. now owns 2,473,541 shares of the textile maker’s stock worth $51,771,000 after purchasing an additional 206,962 shares during the period. American Century Companies Inc. boosted its holdings in shares of Interface by 11.1% in the 1st quarter. American Century Companies Inc. now owns 2,214,325 shares of the textile maker’s stock worth $43,932,000 after buying an additional 222,029 shares during the last quarter. Geode Capital Management LLC grew its position in Interface by 0.7% during the second quarter. Geode Capital Management LLC now owns 1,433,183 shares of the textile maker’s stock valued at $30,000,000 after buying an additional 10,537 shares during the period. Finally, Nuveen LLC purchased a new stake in Interface during the first quarter worth about $15,505,000. 98.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on TILE. Weiss Ratings upgraded shares of Interface from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Barrington Research restated an “outperform” rating and set a $32.00 price target on shares of Interface in a research note on Friday, October 31st. Zacks Research upgraded Interface from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Finally, Wall Street Zen lowered Interface from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 16th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $32.00.

Insider Buying and Selling

In other Interface news, CFO Bruce Andrew Hausmann sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $26.95, for a total value of $673,750.00. Following the completion of the sale, the chief financial officer owned 145,403 shares in the company, valued at approximately $3,918,610.85. The trade was a 14.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is owned by company insiders.

Interface Trading Up 4.9%

Shares of Interface stock opened at $26.80 on Friday. The company’s 50-day moving average price is $27.31 and its 200-day moving average price is $24.28. The company has a current ratio of 2.88, a quick ratio of 1.59 and a debt-to-equity ratio of 0.53. Interface, Inc. has a 12-month low of $17.24 and a 12-month high of $30.20. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.04 and a beta of 2.07.

Interface (NASDAQ:TILE) last posted its earnings results on Friday, October 31st. The textile maker reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.15. The business had revenue of $364.53 million for the quarter, compared to analysts’ expectations of $358.19 million. Interface had a net margin of 7.08% and a return on equity of 18.97%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.48 EPS. Interface has set its FY 2025 guidance at EPS. On average, equities analysts expect that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 28th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, November 28th. Interface’s payout ratio is 4.17%.

Interface 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.