Allspring Global Investments Holdings LLC Has $291,000 Stake in Interface, Inc. (NASDAQ:TILE)

Allspring Global Investments Holdings LLC raised its position in Interface, Inc. (NASDAQ:TILE) by 56.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,649 shares of the textile maker’s stock after purchasing an additional 5,299 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Interface were worth $291,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Huntington National Bank acquired a new stake in shares of Interface in the 4th quarter valued at about $28,000. Virtus Fund Advisers LLC acquired a new stake in shares of Interface in the 4th quarter valued at about $48,000. US Bancorp DE raised its stake in shares of Interface by 163.5% in the 4th quarter. US Bancorp DE now owns 2,398 shares of the textile maker’s stock valued at $58,000 after purchasing an additional 1,488 shares during the period. Versant Capital Management Inc raised its stake in shares of Interface by 49.6% in the 1st quarter. Versant Capital Management Inc now owns 2,458 shares of the textile maker’s stock valued at $49,000 after purchasing an additional 815 shares during the period. Finally, National Bank of Canada FI raised its stake in shares of Interface by 13.3% in the 4th quarter. National Bank of Canada FI now owns 3,850 shares of the textile maker’s stock valued at $94,000 after purchasing an additional 451 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on TILE shares. Wall Street Zen raised Interface from a “hold” rating to a “buy” rating in a research note on Saturday, May 10th. Barrington Research reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Interface in a research report on Friday, May 2nd.

Interface Price Performance

NASDAQ:TILE opened at $21.35 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.42 and a current ratio of 2.76. The stock’s 50-day simple moving average is $20.65 and its 200 day simple moving average is $21.02. The company has a market cap of $1.25 billion, a P/E ratio of 14.72, a P/E/G ratio of 0.94 and a beta of 1.97. Interface, Inc. has a 52-week low of $14.75 and a 52-week high of $27.34.

Interface (NASDAQ:TILE) last released its earnings results on Friday, May 2nd. The textile maker reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. The business had revenue of $297.41 million for the quarter, compared to the consensus estimate of $297.11 million. Interface had a return on equity of 17.73% and a net margin of 6.48%. Interface’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 earnings per share. As a group, sell-side analysts forecast that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date was Friday, May 30th. Interface’s dividend payout ratio (DPR) is presently 2.76%.

Insiders Place Their Bets

In other Interface news, VP James Poppens sold 19,474 shares of the business’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $20.14, for a total transaction of $392,206.36. Following the transaction, the vice president owned 130,142 shares of the company’s stock, valued at $2,621,059.88. The trade was a 13.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is currently owned by company insiders.

About Interface

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.