Wells Fargo & Company MN grew its stake in Interface, Inc. (NASDAQ:TILE) by 2.4% in the first quarter, Holdings Channel reports. The fund owned 898,400 shares of the textile maker’s stock after purchasing an additional 20,801 shares during the period. Wells Fargo & Company MN’s holdings in Interface were worth $6,792,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Aigen Investment Management LP purchased a new stake in shares of Interface in the first quarter valued at about $35,000. PNC Financial Services Group Inc. raised its position in shares of Interface by 158.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,370 shares of the textile maker’s stock valued at $39,000 after buying an additional 1,453 shares during the period. Advisor Group Inc. lifted its holdings in Interface by 18.8% in the fourth quarter. Advisor Group Inc. now owns 3,961 shares of the textile maker’s stock valued at $65,000 after acquiring an additional 626 shares during the last quarter. NumerixS Investment Technologies Inc grew its position in Interface by 110.0% in the fourth quarter. NumerixS Investment Technologies Inc now owns 4,200 shares of the textile maker’s stock worth $70,000 after acquiring an additional 2,200 shares during the period. Finally, Nicholas Hoffman & Company LLC. increased its stake in Interface by 50.0% during the first quarter. Nicholas Hoffman & Company LLC. now owns 15,000 shares of the textile maker’s stock worth $113,000 after acquiring an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 89.37% of the company’s stock.
TILE has been the subject of a number of research analyst reports. BidaskClub cut Interface from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. ValuEngine lowered shares of Interface from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 2nd. Nomura Instinet boosted their price target on shares of Interface from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Nomura increased their price objective on shares of Interface from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, SunTrust Banks dropped their target price on shares of Interface from $13.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.17.
NASDAQ TILE opened at $8.09 on Wednesday. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.14 and a current ratio of 2.32. The firm has a market cap of $423.37 million, a price-to-earnings ratio of -15.56 and a beta of 1.79. The firm has a 50 day simple moving average of $8.41 and a 200-day simple moving average of $11.93. Interface, Inc. has a one year low of $5.06 and a one year high of $17.67.
Interface (NASDAQ:TILE) last released its earnings results on Friday, May 8th. The textile maker reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.12. The company had revenue of $288.20 million for the quarter, compared to analyst estimates of $298.13 million. Interface had a negative net margin of 2.25% and a positive return on equity of 31.53%. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.12 EPS. Equities analysts predict that Interface, Inc. will post 0.83 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Thursday, June 4th. Interface’s payout ratio is currently 2.52%.
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; rubber flooring under the norament and noraplan brands; and luxury vinyl tile products.
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