GAM Holding AG bought a new stake in shares of Interface, Inc. (NASDAQ:TILE) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 14,834 shares of the textile maker’s stock, valued at approximately $340,000.
A number of other institutional investors have also made changes to their positions in the stock. BlackRock Inc. lifted its stake in Interface by 10.4% in the 1st quarter. BlackRock Inc. now owns 8,617,068 shares of the textile maker’s stock worth $217,152,000 after acquiring an additional 810,681 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Interface by 14.5% in the 1st quarter. Wells Fargo & Company MN now owns 920,947 shares of the textile maker’s stock worth $23,209,000 after acquiring an additional 116,681 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Interface by 4.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 544,961 shares of the textile maker’s stock worth $12,507,000 after acquiring an additional 23,599 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Interface by 32.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 310,954 shares of the textile maker’s stock worth $7,836,000 after acquiring an additional 75,744 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Interface by 8.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 302,491 shares of the textile maker’s stock worth $6,941,000 after acquiring an additional 23,843 shares in the last quarter. 91.86% of the stock is owned by hedge funds and other institutional investors.
Shares of Interface stock opened at $23.80 on Friday. The stock has a market capitalization of $1.42 billion, a P/E ratio of 18.28 and a beta of 1.16. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.57 and a quick ratio of 1.46. Interface, Inc. has a 1 year low of $18.90 and a 1 year high of $26.25.
Interface (NASDAQ:TILE) last announced its quarterly earnings data on Wednesday, July 25th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $283.60 million during the quarter, compared to the consensus estimate of $274.94 million. Interface had a return on equity of 23.63% and a net margin of 5.67%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.33 EPS. research analysts forecast that Interface, Inc. will post 1.47 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 24th. Stockholders of record on Friday, August 10th were paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Thursday, August 9th. Interface’s dividend payout ratio (DPR) is presently 22.03%.
TILE has been the subject of several research analyst reports. Zacks Investment Research downgraded Interface from a “buy” rating to a “hold” rating in a research note on Thursday, June 28th. BidaskClub raised Interface from a “sell” rating to a “hold” rating in a research note on Tuesday, May 22nd. Longbow Research raised Interface from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Tuesday, August 14th. They noted that the move was a valuation call. Finally, ValuEngine downgraded Interface from a “buy” rating to a “hold” rating in a research note on Thursday, May 24th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $26.75.
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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