Los Angeles Capital Management LLC Increases Stock Holdings in Interface, Inc. (NASDAQ:TILE)

Los Angeles Capital Management LLC raised its stake in shares of Interface, Inc. (NASDAQ:TILE) by 207.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,593 shares of the textile maker’s stock after purchasing an additional 55,700 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Interface were worth $1,042,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TILE. Aristeia Capital LLC bought a new stake in shares of Interface during the 3rd quarter valued at about $101,000. Olympiad Research LP purchased a new stake in Interface in the third quarter worth about $141,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Interface by 86.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,235 shares of the textile maker’s stock valued at $149,000 after acquiring an additional 7,052 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Interface during the 3rd quarter worth approximately $278,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Interface in the 3rd quarter worth approximately $323,000. 98.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TILE shares. Truist Financial lifted their price target on Interface from $10.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, February 28th. TheStreet raised shares of Interface from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th. Finally, Barrington Research lifted their price target on shares of Interface from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd.

Interface Stock Down 0.3 %

TILE stock opened at $15.91 on Friday. The business has a 50 day moving average of $15.95 and a 200 day moving average of $13.10. The firm has a market cap of $925.98 million, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.10 and a beta of 1.99. Interface, Inc. has a twelve month low of $6.51 and a twelve month high of $18.47. The company has a quick ratio of 1.30, a current ratio of 2.72 and a debt-to-equity ratio of 0.89.

Interface (NASDAQ:TILE) last issued its quarterly earnings results on Friday, May 3rd. The textile maker reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.12. The firm had revenue of $289.70 million during the quarter, compared to the consensus estimate of $284.76 million. Interface had a return on equity of 16.94% and a net margin of 4.73%. The company’s revenue was down 2.1% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. On average, research analysts forecast that Interface, Inc. will post 1.05 EPS for the current fiscal year.

Interface Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.25%. Interface’s dividend payout ratio is presently 3.96%.

Insider Activity

In related news, VP Stansfield Nigel sold 19,990 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $16.24, for a total value of $324,637.60. Following the completion of the transaction, the vice president now directly owns 181,855 shares in the company, valued at approximately $2,953,325.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Interface Company 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.