Strs Ohio Reduces Holdings in Interface, Inc. (NASDAQ:TILE)

Strs Ohio decreased its holdings in Interface, Inc. (NASDAQ:TILE – Get Rating) by 24.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,900 shares of the textile maker’s stock after selling 8,700 shares during the quarter. Strs Ohio’s holdings in Interface were worth $241,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TILE. Captrust Financial Advisors boosted its holdings in shares of Interface by 228.8% in the first quarter. Captrust Financial Advisors now owns 2,604 shares of the textile maker’s stock worth $35,000 after buying an additional 1,812 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Interface in the second quarter worth approximately $50,000. KBC Group NV purchased a new position in shares of Interface in the second quarter worth approximately $62,000. ACG Wealth purchased a new position in shares of Interface in the second quarter worth approximately $101,000. Finally, Mutual of America Capital Management LLC boosted its holdings in shares of Interface by 17.4% in the second quarter. Mutual of America Capital Management LLC now owns 9,988 shares of the textile maker’s stock worth $125,000 after buying an additional 1,478 shares during the last quarter. Hedge funds and other institutional investors own 90.45% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TILE. StockNews.com downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 8th. Truist Financial decreased their target price on shares of Interface from $19.00 to $13.00 in a research note on Tuesday, November 8th.

Interface Price Performance

NASDAQ TILE opened at $10.56 on Friday. Interface, Inc. has a 12 month low of $8.90 and a 12 month high of $15.05. The stock has a market cap of $614.28 million, a price-to-earnings ratio of 9.51 and a beta of 1.81. The company’s 50 day moving average is $10.50 and its two-hundred day moving average is $11.21. The company has a current ratio of 2.54, a quick ratio of 1.19 and a debt-to-equity ratio of 1.58.

Interface (NASDAQ:TILE – Get Rating) last released its earnings results on Friday, November 4th. The textile maker reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. Interface had a net margin of 5.07% and a return on equity of 23.82%. The company had revenue of $327.76 million for the quarter, compared to analysts’ expectations of $334.60 million. As a group, research analysts anticipate that Interface, Inc. will post 1.19 earnings per share for the current year.

Interface Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Friday, December 2nd were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was Thursday, December 1st. Interface’s payout ratio is currently 3.60%.

Interface Profile

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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 brand 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; rubber flooring under the norament and noraplan brand names; and luxury vinyl tile products.