Interface, Inc. (NASDAQ:TILE) Sees Significant Decrease in Short Interest

Interface, Inc. (NASDAQ:TILE - Get Free Report) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 1,130,000 shares, a decline of 29.8% from the March 15th total of 1,610,000 shares. Based on an average daily trading volume, of 348,900 shares, the days-to-cover ratio is currently 3.2 days. Currently, 2.0% of the company's shares are short sold.

Hedge Funds Weigh In On Interface

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Interface by 1.2% in the second quarter. BlackRock Inc. now owns 9,897,731 shares of the textile maker's stock valued at $87,001,000 after purchasing an additional 119,605 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Interface by 0.5% in the third quarter. Vanguard Group Inc. now owns 6,600,201 shares of the textile maker's stock valued at $59,335,000 after purchasing an additional 30,836 shares during the last quarter. Pzena Investment Management LLC increased its holdings in shares of Interface by 65.2% in the third quarter. Pzena Investment Management LLC now owns 3,614,372 shares of the textile maker's stock valued at $35,457,000 after purchasing an additional 1,426,749 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Interface by 0.5% in the fourth quarter. Wellington Management Group LLP now owns 2,508,961 shares of the textile maker's stock valued at $31,663,000 after acquiring an additional 12,847 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Interface by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,486,319 shares of the textile maker's stock valued at $20,188,000 after acquiring an additional 28,245 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TILE. Truist Financial lifted their price objective on shares of Interface from $10.00 to $14.00 and gave the stock a "hold" rating in a research note on Wednesday, February 28th. TheStreet raised shares of Interface from a "c" rating to a "b-" rating in a research note on Tuesday, February 27th.

Interface Stock Down 2.3 %

TILE traded down $0.37 during trading on Friday, reaching $15.43. The company had a trading volume of 401,330 shares, compared to its average volume of 357,372. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.72 and a quick ratio of 1.42. Interface has a 12 month low of $6.51 and a 12 month high of $18.47. The business's fifty day moving average price is $15.08 and its 200 day moving average price is $12.26. The company has a market cap of $898.03 million, a P/E ratio of 20.30 and a beta of 1.98.

Interface (NASDAQ:TILE - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The textile maker reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.19. The firm had revenue of $325.10 million for the quarter, compared to analyst estimates of $320.16 million. Interface had a net margin of 3.53% and a return on equity of 14.95%. The business's revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Equities analysts anticipate that Interface will post 1.02 EPS for the current year.

Interface Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 29th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.04 dividend on an annualized basis and a yield of 0.26%. Interface's payout ratio is 5.26%.

Interface Company 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.