Teacher Retirement System of Texas Buys 70666 Shares of Interface, Inc. (NASDAQ:TILE) - Defense World

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Teacher Retirement System of Texas raised its stake in shares of Interface, Inc. (NASDAQ:TILE – Free Report) by 311.5% in the 4th quarter, HoldingsChannel reports. The firm owned 93,353 shares of the textile maker’s stock after purchasing an additional 70,666 shares during the period. Teacher Retirement System of Texas’ holdings in Interface were worth $1,178,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TILE. Access Investment Management LLC bought a new position in Interface in the fourth quarter valued at $2,024,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Interface by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,118,347 shares of the textile maker’s stock valued at $14,114,000 after buying an additional 36,088 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Interface by 207.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 82,593 shares of the textile maker’s stock worth $1,042,000 after buying an additional 55,700 shares during the last quarter. Federated Hermes Inc. purchased a new stake in Interface in the fourth quarter worth approximately $1,187,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Interface by 21.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,465 shares of the textile maker’s stock worth $233,000 after buying an additional 3,230 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

Insider Activity at Interface

In other 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 sale, the vice president now directly owns 181,855 shares in the company, valued at approximately $2,953,325.20. The sale was disclosed in a filing with the SEC, which is available through this link. 2.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TILE shares. 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 report on Wednesday, February 28th. Barrington Research boosted their price target on shares of Interface from $20.00 to $22.00 and gave the stock 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 Stock Report on TILE

Interface Stock Performance

NASDAQ:TILE opened at $15.33 on Tuesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.30 and a current ratio of 2.72. Interface, Inc. has a fifty-two week low of $6.65 and a fifty-two week high of $18.47. The firm has a market cap of $892.53 million, a PE ratio of 15.17, a price-to-earnings-growth ratio of 0.88 and a beta of 1.99. The business has a 50 day moving average price of $16.03 and a 200-day moving average price of $13.49.

Interface (NASDAQ:TILE – Get Free Report) last announced its quarterly earnings results on Friday, May 3rd. The textile maker reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.12. The business 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%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 EPS. Equities research analysts predict that Interface, Inc. will post 1.18 earnings per share for the current year.

Interface Announces Dividend

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

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.