Allianz Asset Management GmbH Sells 116,795 Shares of Interface, Inc. $TILE

Allianz Asset Management GmbH lessened its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 20.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 450,343 shares of the textile maker’s stock after selling 116,795 shares during the quarter. Allianz Asset Management GmbH owned 0.77% of Interface worth $13,033,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TILE. Allspring Global Investments Holdings LLC boosted its holdings in shares of Interface by 62.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 23,821 shares of the textile maker’s stock valued at $499,000 after buying an additional 9,172 shares during the period. CSM Advisors LLC bought a new stake in Interface in the 2nd quarter valued at $2,623,000. HB Wealth Management LLC acquired a new position in Interface in the 3rd quarter worth $1,161,000. American Century Companies Inc. boosted its stake in Interface by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 2,286,286 shares of the textile maker’s stock worth $47,852,000 after purchasing an additional 71,961 shares during the period. Finally, Jupiter Asset Management Ltd. increased its holdings in Interface by 2.9% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 353,183 shares of the textile maker’s stock worth $7,392,000 after purchasing an additional 10,081 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TILE. Barrington Research boosted their price target on Interface from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Wall Street Zen cut Interface from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 16th. Zacks Research downgraded Interface from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Finally, Weiss Ratings downgraded shares of Interface from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, December 24th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Interface has an average rating of “Hold” and a consensus price target of $36.00.

Interface Stock Performance

Shares of NASDAQ TILE opened at $34.63 on Friday. 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 stock has a 50 day moving average price of $29.62 and a 200 day moving average price of $27.67. The stock has a market capitalization of $2.02 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 1.15 and a beta of 1.90. Interface, Inc. has a 52 week low of $17.24 and a 52 week high of $34.83.

Interface Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were paid a $0.02 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.08 annualized dividend and a dividend yield of 0.2%. Interface’s dividend payout ratio (DPR) is currently 4.17%.

About Interface

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.