Panagora Asset Management Inc. Buys 16358 Shares of Interface, Inc. (NASDAQ:TILE) - Defense World

kembaliui.blogspot.com

Panagora Asset Management Inc. raised its stake in Interface, Inc. (NASDAQ:TILE – Free Report) by 7.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,017 shares of the textile maker’s stock after buying an additional 16,358 shares during the period. Panagora Asset Management Inc. owned 0.42% of Interface worth $3,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aristeia Capital LLC acquired a new stake in shares of Interface during the 3rd quarter valued at $101,000. Olympiad Research LP acquired a new stake in shares of Interface during the third quarter valued at about $141,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Interface by 86.2% during the third 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 last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Interface in the third quarter valued at approximately $264,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Interface in the third quarter valued at approximately $278,000. Institutional investors own 98.34% of the company’s stock.

Insider Activity at Interface

In other Interface news, VP Stansfield Nigel sold 19,990 shares of Interface stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $16.24, for a total value of $324,637.60. Following the completion of the sale, the vice president now directly owns 181,855 shares in the company, valued at $2,953,325.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. 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. Truist Financial boosted their price objective 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. Finally, TheStreet upgraded Interface from a “c” rating to a “b-” rating in a report on Tuesday, February 27th.

Read Our Latest Stock Report on Interface

Interface Stock Performance

Shares of TILE stock opened at $15.54 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.72 and a quick ratio of 1.30. Interface, Inc. has a one year low of $6.65 and a one year high of $18.47. The business’s 50 day simple moving average is $16.03 and its 200 day simple moving average is $13.45. The stock has a market capitalization of $905.05 million, a PE ratio of 15.39, a PEG ratio of 0.88 and a beta of 1.99.

Interface (NASDAQ:TILE – Get Free Report) last posted its quarterly earnings data on Friday, May 3rd. The textile maker reported $0.24 earnings per share for the quarter, topping the consensus estimate 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 net margin of 4.73% and a return on equity of 16.94%. Interface’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 earnings per share. As a group, research analysts forecast that Interface, Inc. will post 1.18 earnings per share for the current year.

Interface Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date is Friday, May 31st. Interface’s dividend payout ratio is 3.96%.

Interface Company Profile

(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.