Dimensional Fund Advisors LP Has $22 Million Stock Holdings in Interface, Inc. (NASDAQ:TILE)

Dimensional Fund Advisors LP lifted its position in Interface, Inc. (NASDAQ:TILE – Get Rating) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,447,214 shares of the textile maker’s stock after acquiring an additional 18,478 shares during the period. Dimensional Fund Advisors LP owned approximately 4.12% of Interface worth $22,001,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TILE. Invesco Ltd. raised its position in shares of Interface by 18.4% in the 1st quarter. Invesco Ltd. now owns 1,378,806 shares of the textile maker’s stock valued at $18,711,000 after acquiring an additional 214,547 shares during the period. Millennium Management LLC raised its holdings in Interface by 73.7% during the 2nd quarter. Millennium Management LLC now owns 345,648 shares of the textile maker’s stock worth $4,334,000 after buying an additional 146,634 shares during the period. Teacher Retirement System of Texas raised its holdings in Interface by 52.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 377,822 shares of the textile maker’s stock worth $4,738,000 after buying an additional 130,127 shares during the period. Goldman Sachs Group Inc. raised its holdings in Interface by 96.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 176,889 shares of the textile maker’s stock worth $2,218,000 after buying an additional 86,854 shares during the period. Finally, Citadel Advisors LLC raised its holdings in Interface by 2,730.4% during the 2nd quarter. Citadel Advisors LLC now owns 68,391 shares of the textile maker’s stock worth $858,000 after buying an additional 70,991 shares during the period. 90.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on TILE shares. Longbow Research upgraded shares of Interface from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Wednesday, March 1st. Truist Financial cut shares of Interface from a “buy” rating to a “hold” rating and decreased their price target for the stock from $13.00 to $9.00 in a research note on Wednesday, February 22nd. Finally, StockNews.com cut shares of Interface from a “buy” rating to a “hold” rating in a research note on Wednesday, March 1st.

Interface Price Performance

NASDAQ:TILE opened at $9.38 on Monday. Interface, Inc. has a 1-year low of $8.43 and a 1-year high of $15.05. The company has a current ratio of 2.80, a quick ratio of 1.19 and a debt-to-equity ratio of 1.41. The firm has a fifty day simple moving average of $10.59 and a 200 day simple moving average of $10.60. The stock has a market capitalization of $545.63 million, a PE ratio of 29.31 and a beta of 1.90.

Interface (NASDAQ:TILE – Get Rating) last released its earnings results on Tuesday, February 28th. The textile maker reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.07. Interface had a net margin of 1.51% and a return on equity of 21.06%. The business had revenue of $335.60 million during the quarter, compared to analysts’ expectations of $333.65 million. During the same period last year, the business earned $0.47 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. On average, research analysts expect that Interface, Inc. will post 1 EPS for the current fiscal year.

About Interface

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Interface, Inc is a flooring company, which offers carpet tile & resilient flooring, including luxury vinyl tile and rubber flooring products. The firm designs, manufactures and sells modular carpet, manufactured for the commercial and institutional markets under the interface brand, and for consumer markets as FLOR modular carpets.