Zurcher Kantonalbank Zurich Cantonalbank Increases Position in Interface, Inc. (NASDAQ:TILE)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 16.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,962 shares of the textile maker’s stock after buying an additional 2,848 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Interface were worth $396,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Interface by 56.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 14,649 shares of the textile maker’s stock valued at $291,000 after purchasing an additional 5,299 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Interface by 277.1% in the first quarter. Envestnet Asset Management Inc. now owns 97,270 shares of the textile maker’s stock valued at $1,930,000 after purchasing an additional 71,476 shares during the period. North Star Investment Management Corp. boosted its holdings in shares of Interface by 9.9% in the first quarter. North Star Investment Management Corp. now owns 166,075 shares of the textile maker’s stock valued at $3,295,000 after purchasing an additional 15,000 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of Interface in the first quarter valued at approximately $304,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Interface in the fourth quarter valued at approximately $2,498,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Interface Stock Performance

Shares of NASDAQ:TILE opened at $24.87 on Friday. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 0.98 and a beta of 2.00. Interface, Inc. has a 52 week low of $16.20 and a 52 week high of $27.34. The company has a quick ratio of 1.59, a current ratio of 2.88 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average of $21.39 and a 200 day moving average of $20.75.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Friday, August 1st. The textile maker reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.13. The company had revenue of $375.52 million during the quarter, compared to the consensus estimate of $360.57 million. Interface had a net margin of 7.08% and a return on equity of 18.97%. Interface’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 earnings per share. On average, sell-side analysts predict that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Interface’s dividend payout ratio is presently 2.47%.

Insiders Place Their Bets

In other news, VP Stansfield Nigel sold 79,497 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $25.60, for a total transaction of $2,035,123.20. Following the transaction, the vice president directly owned 65,125 shares of the company’s stock, valued at approximately $1,667,200. This represents a 54.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP James Poppens sold 19,474 shares of the company’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $20.14, for a total value of $392,206.36. Following the completion of the transaction, the vice president directly owned 130,142 shares in the company, valued at approximately $2,621,059.88. The trade was a 13.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,497 shares of company stock worth $2,437,913. Insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wall Street Zen upgraded Interface from a “buy” rating to a “strong-buy” rating in a report on Saturday. Barrington Research boosted their price objective on shares of Interface from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st.

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.