Federated Hermes Inc. Increases Holdings in Interface, Inc. (NASDAQ:TILE)

Federated Hermes Inc. increased its stake in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 25.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 134,243 shares of the textile maker's stock after buying an additional 27,109 shares during the quarter. Federated Hermes Inc. owned about 0.23% of Interface worth $2,663,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Huntington National Bank acquired a new position in Interface during the 4th quarter worth approximately $28,000. Virtus Fund Advisers LLC acquired a new position in Interface during the 4th quarter worth approximately $48,000. Versant Capital Management Inc increased its position in Interface by 49.6% during the 1st quarter. Versant Capital Management Inc now owns 2,458 shares of the textile maker's stock worth $49,000 after purchasing an additional 815 shares during the period. National Bank of Canada FI increased its position in Interface by 13.3% during the 4th quarter. National Bank of Canada FI now owns 3,850 shares of the textile maker's stock worth $94,000 after purchasing an additional 451 shares during the period. Finally, Scotia Capital Inc. acquired a new position in Interface during the 4th quarter worth approximately $204,000. Hedge funds and other institutional investors own 98.34% of the company's stock.

Wall Street Analyst Weigh In

TILE has been the topic of several recent analyst reports. Wall Street Zen upgraded Interface from a "hold" rating to a "buy" rating in a research report on Saturday, May 10th. Barrington Research boosted their price target on Interface from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st.

Interface Price Performance

Shares of Interface stock traded down $0.24 during trading on Friday, hitting $24.65. 96,325 shares of the company were exchanged, compared to its average volume of 455,610. The company has a quick ratio of 1.59, a current ratio of 2.88 and a debt-to-equity ratio of 0.53. Interface, Inc. has a fifty-two week low of $16.20 and a fifty-two week high of $27.34. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of 1.01 and a beta of 2.00. The firm has a 50 day moving average price of $21.29 and a 200 day moving average price of $20.75.

Interface (NASDAQ:TILE - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.13. Interface had a return on equity of 18.97% and a net margin of 7.08%. The firm had revenue of $375.52 million during the quarter, compared to the consensus estimate of $360.57 million. During the same period in the previous year, the firm posted $0.40 EPS. The company's quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities analysts expect that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $0.01 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.04 annualized dividend and a yield of 0.2%. Interface's payout ratio is 2.47%.

Insider Buying and Selling at Interface

In other Interface news, VP Stansfield Nigel sold 79,497 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $25.60, for a total value of $2,035,123.20. Following the completion of the transaction, the vice president directly owned 65,125 shares in the company, valued at approximately $1,667,200. The trade was a 54.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP James Poppens sold 19,474 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $20.14, for a total value of $392,206.36. Following the completion of the transaction, the vice president owned 130,142 shares of the company's stock, valued at $2,621,059.88. This trade represents a 13.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 99,497 shares of company stock valued at $2,437,913 over the last quarter. 2.30% of the stock is currently owned by insiders.

About Interface

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.