CX Institutional Acquires Shares of 335,037 Interface, Inc. $TILE

CX Institutional acquired a new position in shares of Interface, Inc. (NASDAQ:TILE) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 335,037 shares of the textile maker’s stock, valued at approximately $9,696,000. CX Institutional owned about 0.57% of Interface at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada raised its stake in Interface by 8.4% in the first quarter. Royal Bank of Canada now owns 19,657 shares of the textile maker’s stock valued at $390,000 after buying an additional 1,522 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Interface by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,118 shares of the textile maker’s stock valued at $677,000 after acquiring an additional 1,485 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Interface by 5.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker’s stock worth $14,854,000 after acquiring an additional 42,011 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Interface by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 151,950 shares of the textile maker’s stock worth $3,015,000 after purchasing an additional 9,580 shares during the last quarter. Finally, Intech Investment Management LLC boosted its holdings in Interface by 104.4% in the first quarter. Intech Investment Management LLC now owns 216,520 shares of the textile maker’s stock valued at $4,296,000 after purchasing an additional 110,597 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Analyst Ratings Changes

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

Interface Trading Up 1.8%

NASDAQ TILE opened at $29.37 on Wednesday. The firm’s fifty day moving average is $27.34 and its two-hundred day moving average is $26.09. Interface, Inc. has a one year low of $17.24 and a one year high of $30.20. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.70 and a current ratio of 2.89. The firm has a market cap 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 issued its quarterly earnings results on Friday, October 31st. The textile maker reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.15. The firm had revenue of $364.53 million for 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%.The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 EPS. Analysts expect that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Dividend Announcement

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

Interface 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.