American Century Companies Inc. Has $69.82 Million Holdings in Interface, Inc. $TILE

American Century Companies Inc. raised its holdings in Interface, Inc. (NASDAQ:TILE) by 5.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,412,549 shares of the textile maker’s stock after buying an additional 126,263 shares during the period. American Century Companies Inc. owned about 4.13% of Interface worth $69,819,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Congress Asset Management Co. raised its stake in Interface by 2.9% in the 3rd quarter. Congress Asset Management Co. now owns 2,544,381 shares of the textile maker’s stock valued at $73,634,000 after acquiring an additional 70,840 shares during the period. Geode Capital Management LLC increased its holdings in shares of Interface by 0.7% in the second quarter. Geode Capital Management LLC now owns 1,433,183 shares of the textile maker’s stock valued at $30,000,000 after purchasing an additional 10,537 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Interface by 5.9% in the first quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker’s stock valued at $14,854,000 after purchasing an additional 42,011 shares during the period. Prudential Financial Inc. lifted its stake in shares of Interface by 1.3% during the 2nd quarter. Prudential Financial Inc. now owns 642,865 shares of the textile maker’s stock worth $13,455,000 after buying an additional 8,255 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Interface by 2.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 633,262 shares of the textile maker’s stock worth $13,254,000 after buying an additional 12,509 shares during the period. 98.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Zacks Research cut shares of Interface from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. Wall Street Zen downgraded Interface from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Weiss Ratings raised Interface from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Finally, Barrington Research upped their price objective on Interface from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Interface presently has an average rating of “Moderate Buy” and an average target price of $36.00.

Interface Price Performance

Shares of TILE stock opened at $29.00 on Thursday. The business has a fifty day simple moving average of $31.19 and a 200 day simple moving average of $28.75. The company has a market cap of $1.69 billion, a P/E ratio of 14.80, a P/E/G ratio of 0.96 and a beta of 1.87. The company has a quick ratio of 1.18, a current ratio of 2.34 and a debt-to-equity ratio of 0.27. Interface, Inc. has a twelve month low of $17.24 and a twelve month high of $35.11.

Interface (NASDAQ:TILE) last released its earnings results on Tuesday, February 24th. The textile maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.09. The firm had revenue of $349.39 million for the quarter, compared to analysts’ expectations of $350.54 million. Interface had a return on equity of 19.54% and a net margin of 8.37%.The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 earnings per share. On average, sell-side analysts forecast that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be given a dividend of $0.03 per share. The ex-dividend date is Friday, March 27th. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. This is a positive change from Interface’s previous quarterly dividend of $0.02. Interface’s dividend payout ratio is currently 4.08%.

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.