Amalgamated Bank Sells 1,367 Shares of Interface, Inc. (NASDAQ:TILE)

Amalgamated Bank lowered its stake in shares of Interface, Inc. (NASDAQ:TILE) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,923 shares of the textile maker’s stock after selling 1,367 shares during the period. Amalgamated Bank’s holdings in Interface were worth $277,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Swiss National Bank raised its position in Interface by 1.5% during the third quarter. Swiss National Bank now owns 127,500 shares of the textile maker’s stock worth $1,251,000 after acquiring an additional 1,900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Interface by 21.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,465 shares of the textile maker’s stock valued at $233,000 after purchasing an additional 3,230 shares during the period. New York State Teachers Retirement System lifted its stake in Interface by 4.7% in the 4th quarter. New York State Teachers Retirement System now owns 120,969 shares of the textile maker’s stock valued at $1,527,000 after purchasing an additional 5,441 shares during the last quarter. Aristeia Capital LLC bought a new position in Interface during the third quarter worth about $101,000. Finally, Barclays PLC increased its position in Interface by 13.2% during the third quarter. Barclays PLC now owns 94,179 shares of the textile maker’s stock worth $922,000 after buying an additional 10,990 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TILE shares. Barrington Research boosted their target price on Interface from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. TheStreet upgraded shares of Interface from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. Finally, Truist Financial raised their target price on shares of Interface from $10.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, February 28th.

Insider Activity

In related news, VP Stansfield Nigel sold 19,990 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $16.24, for a total transaction of $324,637.60. Following the sale, the vice president now owns 181,855 shares of the company’s stock, valued at $2,953,325.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is owned by company insiders.

Interface Stock Performance

Shares of NASDAQ TILE opened at $15.51 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.72 and a quick ratio of 1.30. The firm has a market cap of $903.30 million, a price-to-earnings ratio of 15.36, a P/E/G ratio of 0.88 and a beta of 1.99. The stock’s fifty day moving average price is $16.03 and its two-hundred day moving average price is $13.54. Interface, Inc. has a one year low of $6.65 and a one year high of $18.47.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Friday, May 3rd. The textile maker reported $0.24 EPS for the quarter, beating the consensus estimate of $0.12 by $0.12. Interface had a net margin of 4.73% and a return on equity of 16.94%. The business had revenue of $289.70 million for the quarter, compared to the consensus estimate of $284.76 million. During the same period in the prior year, the company posted $0.07 earnings per share. Interface’s revenue was down 2.1% compared to the same quarter last year. On average, equities analysts forecast that Interface, Inc. will post 1.18 EPS for the current year.

Interface Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, May 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.26%. Interface’s dividend payout ratio is presently 3.96%.

About Interface

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.