Strs Ohio Lowers Stake in Interface, Inc. (NASDAQ:TILE)

Strs Ohio reduced its position in Interface, Inc. (NASDAQ:TILEGet Rating) by 24.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,900 shares of the textile maker’s stock after selling 8,700 shares during the quarter. Strs Ohio’s holdings in Interface were worth $241,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Captrust Financial Advisors raised its holdings in shares of Interface by 228.8% in the first quarter. Captrust Financial Advisors now owns 2,604 shares of the textile maker’s stock valued at $35,000 after acquiring an additional 1,812 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Interface in the second quarter valued at about $50,000. KBC Group NV bought a new stake in shares of Interface in the second quarter valued at about $62,000. ACG Wealth bought a new stake in shares of Interface in the second quarter valued at about $101,000. Finally, Mutual of America Capital Management LLC raised its holdings in shares of Interface by 17.4% in the second quarter. Mutual of America Capital Management LLC now owns 9,988 shares of the textile maker’s stock valued at $125,000 after acquiring an additional 1,478 shares in the last quarter. 90.45% of the stock is currently owned by institutional investors.

Interface Stock Performance

Shares of Interface stock opened at $10.56 on Friday. The company has a market capitalization of $614.28 million, a PE ratio of 9.51 and a beta of 1.81. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.19 and a current ratio of 2.54. The company has a 50-day simple moving average of $10.50 and a two-hundred day simple moving average of $11.21. Interface, Inc. has a one year low of $8.90 and a one year high of $15.05.

Interface (NASDAQ:TILEGet Rating) last announced its earnings results on Friday, November 4th. The textile maker reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The business had revenue of $327.76 million during the quarter, compared to the consensus estimate of $334.60 million. Interface had a net margin of 5.07% and a return on equity of 23.82%. Research analysts expect that Interface, Inc. will post 1.19 EPS for the current fiscal year.

Interface Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Friday, December 2nd were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 1st. This represents a $0.04 dividend on an annualized basis and a yield of 0.38%. Interface’s dividend payout ratio is presently 3.60%.

Analyst Ratings Changes

Several research firms recently weighed in on TILE. Truist Financial decreased their price objective on Interface from $19.00 to $13.00 in a report on Tuesday, November 8th. StockNews.com downgraded Interface from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 8th.

Interface 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.

Further Reading

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Institutional Ownership by Quarter for Interface (NASDAQ:TILE)

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