Interface, Inc. (NASDAQ:TILE) Position Reduced by Citigroup Inc.

Citigroup Inc. reduced its stake in shares of Interface, Inc. (NASDAQ:TILEFree Report) by 65.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,731 shares of the textile maker’s stock after selling 42,305 shares during the period. Citigroup Inc.’s holdings in Interface were worth $223,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in Interface by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 611,562 shares of the textile maker’s stock valued at $8,299,000 after buying an additional 2,333 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Interface by 54.9% during the 1st quarter. MetLife Investment Management LLC now owns 31,795 shares of the textile maker’s stock valued at $431,000 after acquiring an additional 11,267 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Interface by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 50,911 shares of the textile maker’s stock worth $691,000 after purchasing an additional 6,277 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Interface by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,469,657 shares of the textile maker’s stock valued at $33,513,000 after purchasing an additional 14,962 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Interface by 0.4% during the first quarter. Vanguard Group Inc. now owns 6,379,991 shares of the textile maker’s stock worth $86,577,000 after purchasing an additional 24,264 shares during the period. Institutional investors own 98.34% of the company’s stock.

Interface Price Performance

NASDAQ TILE opened at $16.82 on Friday. Interface, Inc. has a 12 month low of $6.51 and a 12 month high of $18.47. The firm has a market capitalization of $978.92 million, a PE ratio of 22.13 and a beta of 1.98. The company’s 50 day simple moving average is $14.26 and its 200 day simple moving average is $11.79. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.72 and a quick ratio of 1.42.

Interface (NASDAQ:TILEGet Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The textile maker reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.19. Interface had a return on equity of 14.95% and a net margin of 3.53%. The company had revenue of $325.10 million for the quarter, compared to analysts’ expectations of $320.16 million. During the same period last year, the firm earned $0.31 EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, equities research analysts forecast that Interface, Inc. will post 1.02 EPS for the current fiscal year.

Interface Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 29th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. Interface’s dividend payout ratio is currently 5.26%.

Analyst Ratings Changes

A number of equities analysts have commented on TILE shares. Truist Financial lifted their target price on Interface from $10.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th. StockNews.com upgraded Interface from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 30th. Finally, TheStreet upgraded Interface from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th.

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About Interface

(Free Report)

Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. 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; 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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Institutional Ownership by Quarter for Interface (NASDAQ:TILE)

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