UBS Asset Management Americas Inc. Acquires 10,479 Shares of Interface, Inc. (NASDAQ:TILE)

UBS Asset Management Americas Inc. boosted its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 23.4% in the 2nd quarter, Holdings Channel reports. The firm owned 55,253 shares of the textile maker’s stock after buying an additional 10,479 shares during the period. UBS Asset Management Americas Inc.’s holdings in Interface were worth $845,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State of Alaska Department of Revenue lifted its stake in Interface by 2.9% during the second quarter. State of Alaska Department of Revenue now owns 40,831 shares of the textile maker’s stock worth $624,000 after purchasing an additional 1,136 shares during the last quarter. Advisor Group Holdings Inc. lifted its stake in Interface by 35.8% during the second quarter. Advisor Group Holdings Inc. now owns 4,940 shares of the textile maker’s stock worth $76,000 after purchasing an additional 1,301 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Interface by 7.1% during the second quarter. Envestnet Asset Management Inc. now owns 31,683 shares of the textile maker’s stock worth $485,000 after purchasing an additional 2,103 shares during the last quarter. Northern Trust Corp lifted its stake in Interface by 0.3% during the second quarter. Northern Trust Corp now owns 691,277 shares of the textile maker’s stock worth $10,576,000 after purchasing an additional 2,399 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in Interface by 5.1% during the second quarter. Great West Life Assurance Co. Can now owns 51,920 shares of the textile maker’s stock worth $795,000 after purchasing an additional 2,529 shares during the last quarter. Hedge funds and other institutional investors own 88.61% of the company’s stock.

A number of research analysts have recently commented on TILE shares. Zacks Investment Research upgraded Interface from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Wednesday, November 10th. Raymond James upgraded Interface from a “market perform” rating to an “outperform” rating and set a $19.00 price target for the company in a research note on Monday, November 8th.

Shares of TILE opened at $16.41 on Thursday. Interface, Inc. has a 52 week low of $8.10 and a 52 week high of $18.03. The stock has a market capitalization of $969.09 million, a price-to-earnings ratio of 18.23 and a beta of 1.87. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.19 and a current ratio of 2.28. The stock has a fifty day moving average of $15.42 and a 200-day moving average of $15.05.

Interface (NASDAQ:TILE) last posted its quarterly earnings data on Friday, November 5th. The textile maker reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01. The business had revenue of $312.70 million during the quarter, compared to the consensus estimate of $315.20 million. Interface had a return on equity of 18.40% and a net margin of 4.66%. Interface’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 earnings per share. As a group, equities analysts forecast that Interface, Inc. will post 1.08 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 17th. Investors of record on Friday, December 3rd will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 2nd. This represents a $0.04 dividend on an annualized basis and a yield of 0.24%. Interface’s payout ratio is 4.44%.

Interface Company Profile

Interface, Inc is a flooring company, which offers carpet tile & resilient flooring, including luxury vinyl tile and rubber flooring products. The firm designs, manufactures and sells modular carpet, manufactured for the commercial and institutional markets under the interface brand, and for consumer markets as FLOR modular carpets.

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Institutional Ownership by Quarter for Interface (NASDAQ:TILE)

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