Bank of America Corp DE reduced its stake in Interface, Inc. (NASDAQ:TILE – Free Report) by 6.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 244,055 shares of the textile maker’s stock after selling 15,565 shares during the period. Bank of America Corp DE’s holdings in Interface were worth $6,082,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in TILE. CIBC Private Wealth Group LLC increased its holdings in Interface by 180.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker’s stock worth $27,000 after buying an additional 631 shares during the last quarter. Larson Financial Group LLC boosted its stake in Interface by 114.6% in the third quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker’s stock valued at $34,000 after acquiring an additional 628 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in Interface in the second quarter valued at about $35,000. Wexford Capital LP bought a new position in shares of Interface during the 3rd quarter valued at approximately $43,000. Finally, Copeland Capital Management LLC bought a new position in shares of Interface during the 1st quarter valued at approximately $70,000. Institutional investors own 98.34% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently commented on TILE. Zacks Research cut shares of Interface from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Weiss Ratings raised Interface from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Barrington Research raised their target price on Interface from $36.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Wall Street Zen lowered Interface from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Benchmark assumed coverage on Interface in a research report on Tuesday, May 19th. They set a “buy” rating and a $36.00 price target on the stock. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.50.
Insiders Place Their Bets
In other news, CEO Laurel Hurd sold 7,000 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $39.09, for a total transaction of $273,630.00. Following the sale, the chief executive officer directly owned 506,978 shares in the company, valued at $19,817,770.02. This represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.47% of the stock is owned by insiders.
Interface Stock Performance
Shares of TILE stock opened at $38.70 on Thursday. The firm’s 50 day moving average is $35.18 and its 200 day moving average is $31.07. The stock has a market capitalization of $2.25 billion, a P/E ratio of 15.67, a PEG ratio of 1.10 and a beta of 1.90. Interface, Inc. has a 12 month low of $24.40 and a 12 month high of $40.50. 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 (NASDAQ:TILE – Get Free Report) last released its quarterly earnings data on Friday, August 7th. The textile maker reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.24. Interface had a net margin of 10.10% and a return on equity of 21.77%. The business had revenue of $395.70 million during the quarter, compared to analyst estimates of $391.22 million. During the same period in the previous year, the business earned $0.60 EPS. Interface’s revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Interface, Inc. will post 2.36 earnings per share for the current year.
Interface Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid a $0.03 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.12 annualized dividend and a yield of 0.3%. Interface’s dividend payout ratio (DPR) is currently 4.86%.
Interface Company Profile
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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