Truist Financial Corp Sells 982 Shares of Interface, Inc. (NASDAQ:TILE) - Defense World

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Truist Financial Corp trimmed its holdings in shares of Interface, Inc. (NASDAQ:TILE – Free Report) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,408 shares of the textile maker’s stock after selling 982 shares during the period. Truist Financial Corp owned approximately 0.05% of Interface worth $384,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Aristeia Capital LLC bought a new position in Interface during the third quarter valued at approximately $101,000. Olympiad Research LP purchased a new position in shares of Interface in the 3rd quarter worth $141,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Interface by 86.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,235 shares of the textile maker’s stock worth $149,000 after buying an additional 7,052 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Interface in the third quarter worth $264,000. Finally, Acadian Asset Management LLC purchased a new stake in Interface during the third quarter valued at $278,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TILE. Truist Financial raised their target price on Interface from $10.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Barrington Research upped their target price on shares of Interface from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, TheStreet upgraded shares of Interface from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th.

Get Our Latest Stock Report on TILE

Insider Buying and Selling at Interface

In other news, VP Stansfield Nigel sold 19,990 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 181,855 shares of the company’s stock, valued at $2,953,325.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

Interface Stock Down 1.0 %

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

Interface (NASDAQ:TILE – Get Free Report) last posted its quarterly earnings results on Friday, May 3rd. The textile maker reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.12. The business had revenue of $289.70 million during the quarter, compared to analyst estimates of $284.76 million. Interface had a net margin of 4.73% and a return on equity of 16.94%. The company’s revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 earnings per share. On average, equities research analysts forecast that Interface, Inc. will post 1.18 EPS for the current year.

Interface Dividend Announcement

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

Interface 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.