Russell Investments Group Ltd. cut its stake in Interface, Inc. (NASDAQ:TILE) by 42.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 278,648 shares of the textile maker’s stock after selling 205,585 shares during the quarter. Russell Investments Group Ltd. owned 0.47% of Interface worth $7,021,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. US Bancorp DE raised its stake in shares of Interface by 22.6% in the fourth quarter. US Bancorp DE now owns 18,624 shares of the textile maker’s stock worth $468,000 after purchasing an additional 3,439 shares during the last quarter. First Mercantile Trust Co. raised its stake in shares of Interface by 90.1% in the first quarter. First Mercantile Trust Co. now owns 9,687 shares of the textile maker’s stock worth $244,000 after purchasing an additional 4,592 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new stake in shares of Interface in the fourth quarter worth approximately $210,000. Wolverine Trading LLC purchased a new stake in shares of Interface in the fourth quarter worth approximately $218,000. Finally, Amalgamated Bank purchased a new stake in shares of Interface in the fourth quarter worth approximately $219,000. 91.61% of the stock is owned by hedge funds and other institutional investors.
Shares of TILE opened at $24.10 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.60 and a quick ratio of 1.44. The company has a market cap of $1.43 billion, a P/E ratio of 20.42 and a beta of 1.25. Interface, Inc. has a 12 month low of $18.30 and a 12 month high of $26.25.
Interface (NASDAQ:TILE) last issued its quarterly earnings results on Wednesday, April 25th. The textile maker reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. The company had revenue of $241.00 million during the quarter, compared to the consensus estimate of $234.96 million. Interface had a return on equity of 22.51% and a net margin of 5.88%. Interface’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the business posted $0.21 earnings per share. equities research analysts predict that Interface, Inc. will post 1.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 25th. Investors of record on Friday, May 11th were given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, May 10th. Interface’s payout ratio is 22.03%.
Several analysts have recently commented on TILE shares. ValuEngine raised Interface from a “hold” rating to a “buy” rating in a research note on Thursday, May 3rd. BidaskClub raised Interface from a “hold” rating to a “buy” rating in a research note on Tuesday, March 27th. Finally, Zacks Investment Research raised Interface from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $25.67.
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 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; and luxury vinyl tile products.
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