Hsbc Holdings PLC Sells 2,332 Shares of Interface, Inc. $TILE

Hsbc Holdings PLC decreased its holdings in Interface, Inc. (NASDAQ:TILE) by 10.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 19,538 shares of the textile maker’s stock after selling 2,332 shares during the period. Hsbc Holdings PLC’s holdings in Interface were worth $383,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in Interface by 2.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 59,340 shares of the textile maker’s stock worth $1,445,000 after acquiring an additional 1,483 shares during the last quarter. Northern Trust Corp grew its position in Interface by 11.6% during the 4th quarter. Northern Trust Corp now owns 665,537 shares of the textile maker’s stock worth $16,206,000 after acquiring an additional 69,417 shares during the last quarter. Comerica Bank grew its position in Interface by 161.0% during the 4th quarter. Comerica Bank now owns 53,841 shares of the textile maker’s stock worth $1,311,000 after acquiring an additional 33,214 shares during the last quarter. Algert Global LLC grew its position in Interface by 14.5% during the 4th quarter. Algert Global LLC now owns 219,854 shares of the textile maker’s stock worth $5,353,000 after acquiring an additional 27,783 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Interface by 30.8% during the 4th quarter. Ameriprise Financial Inc. now owns 410,819 shares of the textile maker’s stock worth $10,003,000 after acquiring an additional 96,669 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TILE. Wall Street Zen raised Interface from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 9th. Barrington Research reaffirmed an “outperform” rating and set a $32.00 price target on shares of Interface in a research note on Friday, August 29th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $32.00.

Insiders Place Their Bets

In related news, VP Stansfield Nigel sold 79,497 shares of Interface stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $25.60, for a total transaction of $2,035,123.20. Following the sale, the vice president directly owned 65,125 shares in the company, valued at approximately $1,667,200. This trade represents a 54.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP James Poppens sold 5,000 shares of Interface stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $26.14, for a total value of $130,700.00. Following the sale, the vice president owned 124,616 shares in the company, valued at $3,257,462.24. This trade represents a 3.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,497 shares of company stock valued at $2,839,573. Corporate insiders own 2.60% of the company’s stock.

Interface Stock Performance

Shares of TILE opened at $26.50 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.59 and a current ratio of 2.88. The stock has a 50 day moving average price of $23.50 and a two-hundred day moving average price of $21.07. The firm has a market capitalization of $1.55 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.05 and a beta of 2.11. Interface, Inc. has a 52 week low of $17.24 and a 52 week high of $27.34.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Friday, August 1st. The textile maker reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.13. The firm had revenue of $375.52 million during the quarter, compared to analyst estimates of $360.57 million. Interface had a return on equity of 18.97% and a net margin of 7.08%.The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 EPS. Interface has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts forecast that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.02 per share. 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, August 29th. Interface’s payout ratio is currently 4.94%.

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.