Federated Hermes Inc. Purchases 27,109 Shares of Interface, Inc. (NASDAQ:TILE)

Federated Hermes Inc. grew its position in 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 firm owned 134,243 shares of the textile maker's stock after purchasing an additional 27,109 shares during the quarter. Federated Hermes Inc. owned approximately 0.23% of Interface worth $2,663,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Mackenzie Financial Corp increased its position in Interface by 19.3% during the first quarter. Mackenzie Financial Corp now owns 45,560 shares of the textile maker's stock worth $904,000 after acquiring an additional 7,372 shares during the period. LPL Financial LLC bought a new position in Interface during the first quarter worth $3,172,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Interface by 16.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,962 shares of the textile maker's stock worth $396,000 after acquiring an additional 2,848 shares during the period. HB Wealth Management LLC increased its position in Interface by 18.8% during the first quarter. HB Wealth Management LLC now owns 39,995 shares of the textile maker's stock worth $794,000 after acquiring an additional 6,320 shares during the period. Finally, Pacer Advisors Inc. bought a new position in Interface during the first quarter worth $8,635,000. Institutional investors own 98.34% of the company's stock.

Insider Transactions at Interface

In other Interface news, 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 sale, the vice president owned 130,142 shares of the company's stock, valued at $2,621,059.88. The trade was a 13.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.60% of the stock is owned by company insiders.

Interface Trading Up 2.6%

Shares of Interface stock opened at $25.25 on Tuesday. The firm has a market capitalization of $1.48 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 1.04 and a beta of 2.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.88 and a quick ratio of 1.59. The company's fifty day moving average price is $20.99 and its two-hundred day moving average price is $20.68. Interface, Inc. has a 52-week low of $14.75 and a 52-week high of $27.34.

Interface (NASDAQ:TILE - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The textile maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.13. The firm had revenue of $375.52 million for the quarter, compared to analyst estimates of $360.57 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 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. On average, analysts expect that Interface, Inc. will post 1.37 EPS for the current 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. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, May 30th. Interface's payout ratio is 2.76%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TILE shares. Wall Street Zen raised shares of Interface from a "hold" rating to a "buy" rating in a research report on Saturday, May 10th. Barrington Research boosted their target price on shares of Interface from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Friday.

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.

Want to see what other hedge funds are holding TILE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Interface, Inc. (NASDAQ:TILE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.