Profund Advisors LLC increased its position in shares of Interface, Inc. (NASDAQ:TILE) by 27.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,896 shares of the textile maker’s stock after purchasing an additional 2,592 shares during the period. Profund Advisors LLC’s holdings in Interface were worth $300,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Xact Kapitalforvaltning AB purchased a new position in Interface during the fourth quarter worth about $210,000. Wolverine Trading LLC purchased a new position in Interface during the fourth quarter worth about $218,000. Amalgamated Bank purchased a new position in Interface during the fourth quarter worth about $219,000. Two Sigma Securities LLC purchased a new position in Interface during the fourth quarter worth about $240,000. Finally, First Mercantile Trust Co. raised its holdings in Interface by 90.1% during 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 in the last quarter. 91.61% of the stock is owned by hedge funds and other institutional investors.
Shares of Interface stock opened at $24.10 on Friday. Interface, Inc. has a 12-month low of $18.30 and a 12-month high of $26.25. 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 stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 19.69 and a beta of 1.25.
Interface (NASDAQ:TILE) last issued its earnings results on Wednesday, April 25th. The textile maker reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. Interface had a net margin of 5.88% and a return on equity of 22.51%. The company had revenue of $241.00 million during the quarter, compared to analysts’ expectations of $234.96 million. During the same period last year, the company posted $0.21 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. sell-side analysts predict that Interface, Inc. will post 1.42 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 25th. Shareholders of record on Friday, May 11th were issued a $0.065 dividend. The ex-dividend date of this dividend was Thursday, May 10th. This represents a $0.26 dividend on an annualized basis and a yield of 1.08%. Interface’s dividend payout ratio (DPR) is presently 22.03%.
Several research analysts recently issued reports on TILE shares. BidaskClub cut shares of Interface from a “buy” rating to a “hold” rating in a report on Saturday, April 28th. Zacks Investment Research raised shares of Interface from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Tuesday, February 27th. Finally, ValuEngine cut shares of Interface from a “buy” rating to a “hold” rating in a report on Friday, April 27th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Interface presently 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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