Russell Investments Group Ltd. Cuts Stock Holdings in Interface, Inc. (NASDAQ:TILE) - Defense World

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Russell Investments Group Ltd. trimmed its position in shares of Interface, Inc. (NASDAQ:TILE – Get Rating) by 14.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,872 shares of the textile maker’s stock after selling 13,641 shares during the quarter. Russell Investments Group Ltd. owned 0.13% of Interface worth $1,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of TILE. Allspring Global Investments Holdings LLC purchased a new position in Interface during the 4th quarter worth $875,000. Qube Research & Technologies Ltd purchased a new position in shares of Interface in the 4th quarter worth about $186,000. Advisor Group Holdings Inc. boosted its holdings in shares of Interface by 19.8% in the 4th quarter. Advisor Group Holdings Inc. now owns 7,584 shares of the textile maker’s stock worth $122,000 after buying an additional 1,256 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Interface by 49.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 41,940 shares of the textile maker’s stock worth $669,000 after buying an additional 13,876 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Interface by 110.1% in the 4th quarter. American Century Companies Inc. now owns 256,666 shares of the textile maker’s stock worth $4,094,000 after buying an additional 134,525 shares during the last quarter. 96.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, TheStreet raised shares of Interface from a “c+” rating to a “b-” rating in a report on Friday, August 5th.

Interface Price Performance

Shares of NASDAQ:TILE opened at $12.86 on Friday. The company’s 50-day moving average is $13.20 and its 200 day moving average is $13.37. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.24 and a current ratio of 2.51. The company has a market capitalization of $764.75 million, a P/E ratio of 12.13 and a beta of 1.76. Interface, Inc. has a fifty-two week low of $11.87 and a fifty-two week high of $18.03.

Interface (NASDAQ:TILE – Get Rating) last released its quarterly earnings data on Friday, August 5th. The textile maker reported $0.36 EPS for the quarter, beating the consensus estimate of $0.32 by $0.04. The business had revenue of $346.60 million for the quarter, compared to the consensus estimate of $357.70 million. Interface had a net margin of 4.89% and a return on equity of 23.39%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 earnings per share. On average, equities research analysts forecast that Interface, Inc. will post 1.21 earnings per share for the current year.

Interface Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, September 2nd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 1st. This is an increase from Interface’s previous quarterly dividend of $0.01. This represents a $0.40 annualized dividend and a yield of 3.11%. Interface’s dividend payout ratio is 3.77%.

Interface Profile

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Interface, Inc, a modular flooring company, designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific. The company offers modular carpets under the Interface and FLOR brand names; carpet tiles under the GlasBacRE name for use in commercial interiors, including offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; modular resilient flooring products; rubber flooring under the norament and noraplan brand names; and luxury vinyl tile products.