Russell Investments Group Ltd. trimmed its position in shares of Interface, Inc. (NASDAQ:TILE – Free Report) by 12.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,730 shares of the textile maker’s stock after selling 4,730 shares during the period. Russell Investments Group Ltd. owned 0.06% of Interface worth $413,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Federated Hermes Inc. acquired a new stake in shares of Interface in the 4th quarter worth approximately $1,187,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of 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 acquiring an additional 3,230 shares during the period. Mackenzie Financial Corp lifted its stake 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 acquiring an additional 12,859 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of Interface in the 4th quarter worth approximately $367,000. Finally, New York State Teachers Retirement System lifted its stake 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 acquiring an additional 5,441 shares during the period. 98.34% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Truist Financial upped their price target 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 upgraded shares of Interface from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. Finally, Barrington Research boosted their target price on shares of Interface from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd.
Read Our Latest Research Report on TILEInterface Stock Up 1.2 %
NASDAQ TILE opened at $15.51 on Wednesday. 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’s 50 day simple moving average is $16.03 and its 200 day simple moving average is $13.54. Interface, Inc. has a 12 month low of $6.65 and a 12 month high of $18.47. The company has a market capitalization of $903.30 million, a P/E ratio of 15.36, a PEG ratio of 0.88 and a beta of 1.99.
Interface (NASDAQ:TILE – Get Free Report) last released its quarterly earnings results on Friday, May 3rd. The textile maker reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.12. Interface had a net margin of 4.73% and a return on equity of 16.94%. The business had revenue of $289.70 million for the quarter, compared to analyst estimates of $284.76 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. The firm’s revenue was down 2.1% compared to the same quarter last year. Equities research analysts expect that Interface, Inc. will post 1.18 earnings per share for the current fiscal year.
Interface Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.26%. Interface’s dividend payout ratio is currently 3.96%.
Insider Activity
In other news, VP Stansfield Nigel sold 19,990 shares of the business’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 sale, the vice president now owns 181,855 shares in the company, valued at $2,953,325.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is owned by company insiders.
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.
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