Sanctuary Advisors LLC Takes $1.80 Million Position in Interface, Inc. $TILE

Sanctuary Advisors LLC purchased a new stake in shares of Interface, Inc. (NASDAQ:TILE) in the second quarter, HoldingsChannel.com reports. The firm purchased 50,188 shares of the textile maker’s stock, valued at approximately $1,799,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC boosted its position in Interface by 180.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker’s stock valued at $27,000 after buying an additional 631 shares during the last quarter. Allworth Financial LP purchased a new stake in shares of Interface during the second quarter worth about $36,000. Larson Financial Group LLC increased its position in shares of Interface by 114.6% during the third quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker’s stock worth $34,000 after acquiring an additional 628 shares during the last quarter. Wexford Capital LP acquired a new position in shares of Interface in the third quarter worth about $43,000. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of Interface in the second quarter worth about $35,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Interface Stock Down 0.6%

Shares of Interface stock opened at $38.70 on Thursday. The business has a 50-day moving average price of $35.18 and a 200 day moving average price of $31.07. Interface, Inc. has a fifty-two week low of $24.40 and a fifty-two week high of $40.50. The firm has a market cap of $2.25 billion, a P/E ratio of 15.67, a P/E/G ratio of 1.10 and a beta of 1.90. The company has a quick ratio of 1.35, a current ratio of 2.53 and a debt-to-equity ratio of 0.29.

Interface (NASDAQ:TILE) last released its earnings results 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%.Interface’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS. On average, sell-side analysts forecast that Interface, Inc. will post 2.36 earnings per share for the current fiscal year.

Interface Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a dividend of $0.03 per share. 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 4.86%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Zacks Research downgraded Interface from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Weiss Ratings upgraded Interface from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Wall Street Zen downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Barrington Research lifted their price target on shares of Interface from $36.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Finally, Benchmark began coverage on shares of Interface in a report on Tuesday, May 19th. They issued a “buy” rating and a $36.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.50.

Insider Buying and Selling

In other Interface news, CEO Laurel Hurd sold 7,000 shares of Interface stock in a transaction 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 of the company’s stock, valued at $19,817,770.02. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.47% of the stock is currently owned by corporate insiders.

About Interface

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.