Federated Hermes Inc. Invests $1.19 Million in Interface, Inc. (NASDAQ:TILE)

Federated Hermes Inc. acquired a new stake in shares of Interface, Inc. (NASDAQ:TILE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 94,045 shares of the textile maker's stock, valued at approximately $1,187,000. Federated Hermes Inc. owned about 0.16% of Interface as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Interface by 21.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,465 shares of the textile maker's stock worth $233,000 after buying an additional 3,230 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Interface by 56.1% in the 4th quarter. Mackenzie Financial Corp now owns 35,761 shares of the textile maker's stock worth $451,000 after purchasing an additional 12,859 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of Interface in the 4th quarter worth about $367,000. New York State Teachers Retirement System raised its holdings in shares of Interface by 4.7% in the 4th quarter. New York State Teachers Retirement System now owns 120,969 shares of the textile maker's stock worth $1,527,000 after purchasing an additional 5,441 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in shares of Interface by 112.4% in the 4th quarter. Pacer Advisors Inc. now owns 2,432,561 shares of the textile maker's stock worth $30,699,000 after purchasing an additional 1,287,420 shares during the period. 98.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TILE. Truist Financial raised their price objective on Interface from $10.00 to $14.00 and gave the stock a "hold" rating in a report on Wednesday, February 28th. TheStreet upgraded Interface from a "c" rating to a "b-" rating in a report on Tuesday, February 27th. Finally, Barrington Research began coverage on Interface in a report on Monday, April 15th. They issued an "outperform" rating and a $20.00 price objective on the stock.

Interface Stock Down 0.1 %

Shares of NASDAQ:TILE traded down $0.01 during mid-day trading on Wednesday, hitting $15.28. 608,783 shares of the company traded hands, compared to its average volume of 380,406. The firm has a market cap of $889.30 million, a P/E ratio of 20.11, a PEG ratio of 1.00 and a beta of 1.98. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 2.72. Interface, Inc. has a 52-week low of $6.51 and a 52-week high of $18.47. The firm's 50 day simple moving average is $15.72 and its 200 day simple moving average is $12.83.

Interface (NASDAQ:TILE - Get Free Report) last announced its earnings results on Tuesday, February 27th. The textile maker reported $0.41 EPS for the quarter, beating the consensus estimate of $0.22 by $0.19. The business had revenue of $325.10 million for the quarter, compared to the consensus estimate of $320.16 million. Interface had a return on equity of 14.95% and a net margin of 3.53%. The company's revenue was down 3.1% on a year-over-year basis. During the same period last year, the business posted $0.31 EPS. On average, equities analysts anticipate that Interface, Inc. will post 1.05 EPS for the current year.

Interface Dividend Announcement

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

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.