Bank of Montreal Can purchased a new position in Interface, Inc. (NASDAQ:TILE – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 136,704 shares of the textile maker’s stock, valued at approximately $1,204,000. Bank of Montreal Can owned 0.24% of Interface at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Numerai GP LLC bought a new position in shares of Interface in the first quarter worth approximately $501,000. First Hawaiian Bank purchased a new position in shares of Interface in the second quarter worth $219,000. Beacon Investment Advisors LLC purchased a new position in shares of Interface in the first quarter worth $102,000. Matthew 25 Management Corp lifted its holdings in shares of Interface by 3.6% in the first quarter. Matthew 25 Management Corp now owns 1,010,000 shares of the textile maker’s stock worth $8,201,000 after buying an additional 35,000 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in shares of Interface by 2.0% in the first quarter. Panagora Asset Management Inc. now owns 180,444 shares of the textile maker’s stock worth $1,465,000 after buying an additional 3,452 shares in the last quarter. 90.29% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on TILE. Truist Financial boosted their target price on shares of Interface from $8.00 to $10.00 and gave the stock a “hold” rating in a report on Monday, August 7th. StockNews.com raised shares of Interface from a “buy” rating to a “strong-buy” rating in a report on Monday, November 6th.
Interface Price Performance
Interface stock opened at $9.35 on Friday. The company has a market cap of $543.30 million, a price-to-earnings ratio of 935.00 and a beta of 1.87. The firm’s fifty day moving average is $9.52 and its 200 day moving average is $8.93. The company has a quick ratio of 1.41, a current ratio of 2.79 and a debt-to-equity ratio of 1.12. Interface, Inc. has a 52-week low of $6.51 and a 52-week high of $12.29.
Interface (NASDAQ:TILE – Get Free Report) last released its quarterly earnings results on Friday, November 3rd. The textile maker reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The company had revenue of $311.00 million for the quarter, compared to the consensus estimate of $324.59 million. Interface had a net margin of 0.03% and a return on equity of 14.08%. Interface’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 earnings per share. Sell-side analysts forecast that Interface, Inc. will post 0.8 EPS for the current fiscal year.
Interface Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Thursday, August 31st. Interface’s payout ratio is 400.00%.
Interface Company Profile
Interface, Inc designs, produces, and sells modular carpet products primarily in the United States and internationally. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles and vinyl sheet under the Interface brand; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.
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