Virtus Advisers LLC acquired a new position in Interface, Inc. (NASDAQ:TILE – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 41,543 shares of the textile maker’s stock, valued at approximately $1,489,000. Interface makes up 0.6% of Virtus Advisers LLC’s holdings, making the stock its 27th largest holding. Virtus Advisers LLC owned 0.07% of Interface as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Aurora Investment Counsel purchased a new position in Interface during the second quarter worth about $3,043,000. Denali Advisors LLC purchased a new stake in shares of Interface in the 2nd quarter valued at about $364,000. Great Lakes Advisors LLC purchased a new stake in shares of Interface in the 2nd quarter valued at about $304,000. BlackRock Inc. bought a new stake in shares of Interface during the 2nd quarter valued at about $338,055,000. Finally, Deutsche Bank AG bought a new stake in shares of Interface during the 2nd quarter valued at about $2,347,000. Institutional investors own 98.34% of the company’s stock.
Interface Stock Down 0.6%
Shares of NASDAQ:TILE opened at $39.08 on Friday. The stock has a market capitalization of $2.27 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 1.11 and a beta of 1.90. The stock’s 50-day moving average price is $34.59 and its 200-day moving average price is $30.91. The company has a current ratio of 2.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.29. Interface, Inc. has a 12-month low of $24.40 and a 12-month high of $40.50.
Interface Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Interface’s payout ratio is presently 4.86%.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on TILE. Benchmark began coverage on shares of Interface in a research report on Tuesday, May 19th. They issued a “buy” rating and a $36.00 price objective on the stock. Weiss Ratings raised shares of Interface from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Wall Street Zen cut shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Zacks Research downgraded shares of Interface from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, Barrington Research upped their target price on shares of Interface from $36.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Interface presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.50.
Insider Buying and Selling
In other Interface news, CFO Bruce Andrew Hausmann sold 50,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.66, for a total transaction of $1,483,000.00. Following the completion of the sale, the chief financial officer owned 119,256 shares of the company’s stock, valued at $3,537,132.96. This represents a 29.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.47% of the stock is owned by corporate insiders.
About Interface
Interface, Inc (NASDAQ: TILE) is a global manufacturer of modular flooring and resilient commercial flooring solutions. The company specializes in carpet tiles, luxury vinyl tile (LVT) and other environmentally responsible hard-surface products designed for use in corporate, education, healthcare, hospitality and retail environments. Interface’s portfolio also includes broadloom carpet, rubber flooring and acoustic underlays, all engineered to meet performance, design and sustainability requirements in modern interior spaces.
Founded in 1973 by Ray C.
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