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A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its stake in Interface by 0.6% in the 1st quarter. Principal Financial Group Inc. now owns 443,524 shares of the textile maker’s stock worth $5,535,000 after purchasing an additional 2,547 shares during the period. BlackRock Inc. boosted its stake in shares of Interface by 5.7% during the 1st quarter. BlackRock Inc. now owns 9,628,102 shares of the textile maker’s stock worth $120,158,000 after buying an additional 520,178 shares during the last quarter. Reynders McVeigh Capital Management LLC acquired a new position in shares of Interface during the 1st quarter worth about $3,984,000. Swiss National Bank boosted its stake in shares of Interface by 1.2% during the 1st quarter. Swiss National Bank now owns 134,100 shares of the textile maker’s stock worth $1,674,000 after buying an additional 1,600 shares during the last quarter. Finally, Aptus Capital Advisors LLC boosted its stake in shares of Interface by 23.9% during the 1st quarter. Aptus Capital Advisors LLC now owns 31,582 shares of the textile maker’s stock worth $394,000 after buying an additional 6,096 shares during the last quarter. 88.79% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on TILE shares. TheStreet upgraded shares of Interface from a “d+” rating to a “c-” rating in a research note on Monday, March 22nd. Zacks Investment Research upgraded shares of Interface from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Wednesday, May 12th.
Shares of TILE stock opened at $16.34 on Tuesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.26 and a current ratio of 2.38. The firm’s 50-day moving average is $13.82 and its 200-day moving average is $11.69. The stock has a market cap of $964.27 million, a price-to-earnings ratio of 25.94 and a beta of 2.12. Interface, Inc. has a 52-week low of $5.88 and a 52-week high of $16.51.
Interface (NASDAQ:TILE) last issued its earnings results on Friday, May 7th. The textile maker reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.13. The company had revenue of $253.30 million for the quarter, compared to analysts’ expectations of $252.70 million. Interface had a net margin of 3.48% and a return on equity of 19.68%. Interface’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 EPS. Sell-side analysts predict that Interface, Inc. will post 1 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 18th. Shareholders of record on Friday, June 4th will be issued a $0.01 dividend. The ex-dividend date is Thursday, June 3rd. This represents a $0.04 annualized dividend and a yield of 0.24%. Interface’s dividend payout ratio is currently 3.48%.
About Interface
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 band 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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