Mackenzie Financial Corp Increases Holdings in Interface, Inc. (NASDAQ:TILE)

Mackenzie Financial Corp boosted its position in Interface, Inc. (NASDAQ:TILE) by 56.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,761 shares of the textile maker’s stock after buying an additional 12,859 shares during the quarter. Mackenzie Financial Corp owned approximately 0.06% of Interface worth $451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in shares of Interface in the 3rd quarter valued at $325,000. Independent Advisor Alliance boosted its position in Interface by 3.8% during the third quarter. Independent Advisor Alliance now owns 67,510 shares of the textile maker’s stock valued at $662,000 after buying an additional 2,476 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Interface by 86.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,235 shares of the textile maker’s stock valued at $149,000 after buying an additional 7,052 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Interface by 24.2% in the third quarter. Panagora Asset Management Inc. now owns 226,659 shares of the textile maker’s stock worth $2,224,000 after buying an additional 44,186 shares during the period. Finally, Olympiad Research LP bought a new stake in shares of Interface in the 3rd quarter valued at about $141,000. 98.34% of the stock is currently owned by institutional investors.

Interface Stock Up 2.0 %

NASDAQ TILE opened at $15.61 on Friday. Interface, Inc. has a 1 year low of $6.51 and a 1 year high of $18.47. The stock has a market capitalization of $908.50 million, a PE ratio of 20.54, a PEG ratio of 1.01 and a beta of 1.98. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.72 and a quick ratio of 1.42. The business’s 50-day moving average is $15.59 and its 200 day moving average is $12.68.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Tuesday, February 27th. The textile maker reported $0.41 earnings per share for the quarter, topping 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 business had revenue of $325.10 million during the quarter, compared to analysts’ expectations of $320.16 million. During the same quarter last year, the business posted $0.31 EPS. The business’s revenue was down 3.1% on a year-over-year basis. Sell-side analysts forecast that Interface, Inc. will post 1.05 earnings per share for the current year.

Interface Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.26%. The ex-dividend date was Wednesday, March 27th. Interface’s dividend payout ratio (DPR) is currently 5.26%.

Wall Street Analyst Weigh In

TILE has been the topic of several recent research reports. Barrington Research began coverage on Interface in a research report on Monday, April 15th. They set an “outperform” rating and a $20.00 price target on the stock. Truist Financial raised their target price on shares of Interface from $10.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, February 28th. Finally, TheStreet upgraded shares of Interface from a “c” rating to a “b-” rating in a report on Tuesday, February 27th.

Interface Profile

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.