Pacer Advisors Inc. Grows Stock Position in Interface, Inc. (NASDAQ:TILE)

Pacer Advisors Inc. boosted its stake in Interface, Inc. (NASDAQ:TILEFree Report) by 112.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,432,561 shares of the textile maker’s stock after buying an additional 1,287,420 shares during the quarter. Pacer Advisors Inc.’s holdings in Interface were worth $30,699,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Captrust Financial Advisors lifted its holdings in Interface by 228.8% in the 1st quarter. Captrust Financial Advisors now owns 2,604 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 1,812 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Interface in the second quarter valued at $50,000. PNC Financial Services Group Inc. raised its holdings in shares of Interface by 407.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,899 shares of the textile maker’s stock worth $43,000 after purchasing an additional 3,934 shares during the period. Lazard Asset Management LLC purchased a new position in Interface in the fourth quarter valued at approximately $61,000. Finally, Aristeia Capital LLC purchased a new position in shares of Interface in the third quarter valued at $101,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Interface Stock Performance

Shares of NASDAQ TILE opened at $17.21 on Tuesday. Interface, Inc. has a 1 year low of $6.51 and a 1 year high of $18.47. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 2.72. The stock has a fifty day moving average price of $13.94 and a two-hundred day moving average price of $11.66. The firm has a market cap of $1.00 billion, a P/E ratio of 22.65 and a beta of 1.98.

Interface (NASDAQ:TILEGet Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The textile maker reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.19. The company had revenue of $325.10 million during the quarter, compared to the consensus estimate of $320.16 million. Interface had a net margin of 3.53% and a return on equity of 14.95%. Interface’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 EPS. Research analysts forecast that Interface, Inc. will post 1.02 EPS for the current fiscal year.

Interface Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 29th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Wednesday, March 27th. Interface’s payout ratio is 5.26%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TILE shares. StockNews.com upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 30th. TheStreet upgraded shares of Interface from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th. Finally, Truist Financial raised their target price on Interface from $10.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th.

Check Out Our Latest Report on Interface

Interface Company Profile

(Free Report)

Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.

Further Reading

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Institutional Ownership by Quarter for Interface (NASDAQ:TILE)

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