Allspring Global Investments Holdings LLC Raises Holdings in Interface, Inc. $TILE

Allspring Global Investments Holdings LLC boosted its position in shares of Interface, Inc. (NASDAQ:TILE) by 1,114.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 289,261 shares of the textile maker’s stock after buying an additional 265,440 shares during the period. Allspring Global Investments Holdings LLC owned 0.50% of Interface worth $8,371,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its position in Interface by 2,695.2% during the 2nd quarter. IFP Advisors Inc now owns 1,174 shares of the textile maker’s stock worth $25,000 after acquiring an additional 1,132 shares during the period. Blue Trust Inc. purchased a new stake in shares of Interface during the third quarter worth approximately $34,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Interface during the second quarter worth $35,000. CWM LLC grew its position in Interface by 15.1% in the 3rd quarter. CWM LLC now owns 2,857 shares of the textile maker’s stock valued at $83,000 after buying an additional 375 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in Interface in the 2nd quarter valued at $87,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barrington Research restated an “outperform” rating and set a $32.00 price objective on shares of Interface in a research report on Friday, October 31st. Weiss Ratings lowered shares of Interface from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, December 24th. Wall Street Zen downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 16th. Finally, Zacks Research lowered Interface from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Interface currently has a consensus rating of “Hold” and an average price target of $32.00.

Interface Price Performance

Interface stock opened at $29.37 on Wednesday. Interface, Inc. has a 52 week low of $17.24 and a 52 week high of $30.20. The company has a quick ratio of 1.70, a current ratio of 2.89 and a debt-to-equity ratio of 0.49. The firm’s 50-day simple moving average is $27.34 and its 200 day simple moving average is $26.09. The firm has a market capitalization of $1.71 billion, a PE ratio of 15.30, a P/E/G ratio of 0.96 and a beta of 1.90.

Interface (NASDAQ:TILE) last posted its quarterly earnings data on Friday, October 31st. The textile maker reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.15. The firm had revenue of $364.53 million during the quarter, compared to analysts’ expectations of $358.19 million. Interface had a return on equity of 19.30% and a net margin of 8.27%.During the same quarter last year, the business posted $0.48 EPS. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts predict that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were issued a dividend of $0.02 per share. The ex-dividend date was Friday, November 28th. This represents a $0.08 annualized dividend and a dividend yield of 0.3%. Interface’s dividend payout ratio (DPR) is 4.17%.

Interface Company Profile

Interface, Inc (NASDAQ: TILE) is a global manufacturer of modular flooring and resilient commercial flooring solutions. The company specializes in carpet tiles, luxury vinyl tile (LVT) and other environmentally responsible hard-surface products designed for use in corporate, education, healthcare, hospitality and retail environments. Interface’s portfolio also includes broadloom carpet, rubber flooring and acoustic underlays, all engineered to meet performance, design and sustainability requirements in modern interior spaces.

Founded in 1973 by Ray C.