Allspring Global Investments Holdings LLC trimmed its position in Interface, Inc. (NASDAQ:TILE - Free Report) by 26.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129,776 shares of the textile maker's stock after selling 46,773 shares during the period. Allspring Global Investments Holdings LLC owned 0.22% of Interface worth $3,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its holdings in shares of Interface by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 11,282 shares of the textile maker's stock worth $315,000 after purchasing an additional 349 shares during the period. Larson Financial Group LLC lifted its stake in Interface by 30.8% during the 4th quarter. Larson Financial Group LLC now owns 1,538 shares of the textile maker's stock valued at $43,000 after acquiring an additional 362 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of Interface by 0.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 58,483 shares of the textile maker's stock valued at $1,560,000 after acquiring an additional 403 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Interface by 1.5% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 30,695 shares of the textile maker's stock worth $857,000 after acquiring an additional 452 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Interface by 2.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,953 shares of the textile maker's stock worth $722,000 after acquiring an additional 495 shares during the period. Hedge funds and other institutional investors own 98.34% of the company's stock.
Interface Price Performance
Shares of TILE opened at $32.98 on Friday. The company has a market cap of $1.91 billion, a P/E ratio of 15.41, a PEG ratio of 1.03 and a beta of 1.88. Interface, Inc. has a fifty-two week low of $20.37 and a fifty-two week high of $36.66. The company has a quick ratio of 1.16, a current ratio of 2.43 and a debt-to-equity ratio of 0.30. The firm's 50 day moving average price is $31.92 and its 200 day moving average price is $30.12.
Interface (NASDAQ:TILE - Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The textile maker reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.08. Interface had a net margin of 8.92% and a return on equity of 20.09%. The company had revenue of $331.04 million for the quarter, compared to the consensus estimate of $320.38 million. During the same period in the prior year, the firm posted $0.25 EPS. The company's quarterly revenue was up 11.3% compared to the same quarter last year. On average, research analysts forecast that Interface, Inc. will post 2.11 earnings per share for the current fiscal year.
Interface Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date was Friday, June 5th. Interface's payout ratio is 5.61%.
Insider Activity
In other Interface news, CFO Bruce Andrew Hausmann sold 50,000 shares of the company's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.66, for a total transaction of $1,483,000.00. Following the completion of the transaction, the chief financial officer owned 119,256 shares in the company, valued at approximately $3,537,132.96. This represents a 29.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David B. Foshee sold 44,393 shares of the business's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $29.00, for a total transaction of $1,287,397.00. Following the sale, the vice president owned 175,014 shares in the company, valued at $5,075,406. The trade was a 20.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.47% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Interface from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 16th. Barrington Research reaffirmed an "outperform" rating and set a $36.00 price target on shares of Interface in a research report on Friday, April 17th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Interface in a research note on Wednesday, June 17th. Benchmark started coverage on Interface in a report on Tuesday, May 19th. They issued a "buy" rating and a $36.00 price objective for the company. Finally, Zacks Research upgraded Interface from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $36.00.
View Our Latest Analysis on Interface
Interface Profile
(
Free Report)
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.
Further Reading
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