Reynders McVeigh Capital Management LLC cut its position in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 22.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 265,458 shares of the textile maker's stock after selling 77,825 shares during the quarter. Reynders McVeigh Capital Management LLC owned approximately 0.46% of Interface worth $3,350,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Aristeia Capital LLC bought a new position in shares of Interface during the third quarter valued at about $101,000. Olympiad Research LP bought a new position in Interface during the 3rd quarter worth approximately $141,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Interface by 86.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,235 shares of the textile maker's stock worth $149,000 after purchasing an additional 7,052 shares during the period. Los Angeles Capital Management LLC purchased a new position in Interface in the 3rd quarter worth approximately $264,000. Finally, Acadian Asset Management LLC bought a new stake in Interface in the third quarter valued at approximately $278,000. 98.34% of the stock is owned by hedge funds and other institutional investors.
Interface Trading Up 1.9 %
NASDAQ:TILE traded up $0.31 during trading hours on Friday, hitting $16.22. The company had a trading volume of 398,454 shares, compared to its average volume of 523,370. The stock has a 50-day moving average price of $15.96 and a 200 day moving average price of $13.17. Interface, Inc. has a 52 week low of $6.51 and a 52 week high of $18.47. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.72 and a quick ratio of 1.30. The company has a market capitalization of $944.00 million, a PE ratio of 16.06, a price-to-earnings-growth ratio of 0.96 and a beta of 1.99.
Interface (NASDAQ:TILE - Get Free Report) last released its earnings results on Friday, May 3rd. The textile maker reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.12. The company had revenue of $289.70 million during the quarter, compared to analysts' expectations of $284.76 million. Interface had a return on equity of 16.94% and a net margin of 4.73%. The firm's revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 EPS. On average, equities research analysts predict that Interface, Inc. will post 1.1 EPS for the current fiscal year.
Interface Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 dividend on an annualized basis and a yield of 0.25%. Interface's dividend payout ratio (DPR) is currently 3.96%.
Analyst Upgrades and Downgrades
A number of research firms recently commented on TILE. Truist Financial upped their price target on shares of Interface from $10.00 to $14.00 and gave the company a "hold" rating in a report on Wednesday, February 28th. Barrington Research upped their price objective on shares of Interface from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Friday, May 3rd. Finally, TheStreet raised Interface from a "c" rating to a "b-" rating in a research note on Tuesday, February 27th.
Read Our Latest Analysis on Interface
Insider Buying and Selling
In other Interface news, VP Stansfield Nigel sold 19,990 shares of the firm's stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $16.24, for a total transaction of $324,637.60. Following the completion of the transaction, the vice president now owns 181,855 shares of the company's stock, valued at $2,953,325.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by insiders.
About Interface
(
Free Report)
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.
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