Interface, Inc. (NASDAQ:TILE - Get Rating) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 790,600 shares, a drop of 25.4% from the October 15th total of 1,060,000 shares. Based on an average trading volume of 235,400 shares, the short-interest ratio is currently 3.4 days. Approximately 1.4% of the company's stock are short sold.
Institutional Trading of Interface
Institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors raised its holdings in shares of Interface by 228.8% in the first quarter. Captrust Financial Advisors now owns 2,604 shares of the textile maker's stock worth $35,000 after acquiring an additional 1,812 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Interface during the 2nd quarter worth $50,000. KBC Group NV bought a new stake in shares of Interface during the 2nd quarter worth $62,000. Quantbot Technologies LP bought a new stake in shares of Interface during the 3rd quarter worth $46,000. Finally, ACG Wealth bought a new stake in shares of Interface during the 2nd quarter worth $101,000. 90.02% of the stock is currently owned by hedge funds and other institutional investors.
Interface Price Performance
Shares of Interface stock traded up $0.01 during trading on Friday, reaching $11.06. The company's stock had a trading volume of 181,741 shares, compared to its average volume of 198,322. The business has a 50 day moving average price of $10.26 and a 200-day moving average price of $12.19. The company has a quick ratio of 1.19, a current ratio of 2.54 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $657.74 million, a P/E ratio of 9.96 and a beta of 1.87. Interface has a 12-month low of $8.90 and a 12-month high of $17.19.
Interface Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.62%. This is an increase from Interface's previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Thursday, September 1st. Interface's payout ratio is presently 3.60%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the company. Truist Financial cut their target price on Interface from $19.00 to $13.00 in a research report on Tuesday. StockNews.com lowered Interface from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. Finally, TheStreet lowered Interface from a "b-" rating to a "c+" rating in a research report on Wednesday, September 21st.
About Interface
(Get Rating)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.
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Short Interest in Interface, Inc. (NASDAQ:TILE) Declines By 25.4% - MarketBeat
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