New York State Teachers Retirement System Boosts Stock Holdings in Interface, Inc. (NASDAQ:TILE)

New York State Teachers Retirement System boosted its position in Interface, Inc. (NASDAQ:TILE – Get Rating) by 1.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 135,954 shares of the textile maker’s stock after purchasing an additional 1,422 shares during the period. New York State Teachers Retirement System’s holdings in Interface were worth $1,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in TILE. Vanguard Group Inc. grew its stake in shares of Interface by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 6,379,991 shares of the textile maker’s stock worth $86,577,000 after acquiring an additional 24,264 shares during the period. Dimensional Fund Advisors LP boosted its position in Interface by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,469,657 shares of the textile maker’s stock worth $33,513,000 after purchasing an additional 14,962 shares during the period. State Street Corp increased its stake in shares of Interface by 0.8% in the second quarter. State Street Corp now owns 2,045,114 shares of the textile maker’s stock worth $25,646,000 after purchasing an additional 16,142 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Interface by 4.0% in the first quarter. Wellington Management Group LLP now owns 1,476,394 shares of the textile maker’s stock valued at $20,035,000 after purchasing an additional 57,309 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Interface by 18.4% during the 1st quarter. Invesco Ltd. now owns 1,378,806 shares of the textile maker’s stock valued at $18,711,000 after buying an additional 214,547 shares in the last quarter. 90.45% of the stock is currently owned by institutional investors.

Interface Price Performance

Shares of NASDAQ:TILE opened at $10.45 on Friday. The company has a 50 day moving average of $10.51 and a 200 day moving average of $11.22. The company has a current ratio of 2.54, a quick ratio of 1.19 and a debt-to-equity ratio of 1.58. The stock has a market cap of $607.88 million, a P/E ratio of 9.41 and a beta of 1.81. Interface, Inc. has a 12 month low of $8.90 and a 12 month high of $15.05.

Interface (NASDAQ:TILE – Get Rating) last announced its quarterly earnings results on Friday, November 4th. The textile maker reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. Interface had a net margin of 5.07% and a return on equity of 23.82%. The firm had revenue of $327.76 million during the quarter, compared to the consensus estimate of $334.60 million. As a group, sell-side analysts forecast that Interface, Inc. will post 1.19 EPS for the current fiscal year.

Interface Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Friday, December 2nd were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 1st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.38%. Interface’s dividend payout ratio (DPR) is presently 3.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Truist Financial lowered their target price on shares of Interface from $19.00 to $13.00 in a report on Tuesday, November 8th. StockNews.com cut Interface from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 8th.

Interface Company Profile

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Interface, Inc, a modular flooring company, designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific. The company offers modular carpets under the Interface and FLOR brand names; carpet tiles under the GlasBacRE name for use in commercial interiors, including offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; modular resilient flooring products; rubber flooring under the norament and noraplan brand names; and luxury vinyl tile products.