Interface, Inc. (NASDAQ:TILE) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its holdings in Interface, Inc. (NASDAQ:TILE) by 7.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 30,583 shares of the textile maker’s stock after selling 2,389 shares during the period. Corebridge Financial Inc.’s holdings in Interface were worth $745,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. FMR LLC boosted its stake in Interface by 138.8% in the third quarter. FMR LLC now owns 95,215 shares of the textile maker’s stock valued at $1,806,000 after acquiring an additional 55,345 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Interface by 13.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 29,555 shares of the textile maker’s stock worth $561,000 after purchasing an additional 3,464 shares during the last quarter. Verition Fund Management LLC acquired a new position in Interface during the 3rd quarter valued at approximately $214,000. HighTower Advisors LLC bought a new position in Interface during the 3rd quarter worth $1,138,000. Finally, Point72 DIFC Ltd increased its position in Interface by 28.3% in the third quarter. Point72 DIFC Ltd now owns 9,247 shares of the textile maker’s stock worth $175,000 after buying an additional 2,041 shares during the period. Institutional investors own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Barrington Research restated an “outperform” rating and set a $30.00 price target on shares of Interface in a research report on Tuesday, February 25th. StockNews.com cut shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th.

Insider Activity at Interface

In other news, Director Daniel T. Hendrix sold 7,500 shares of Interface stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $19.95, for a total transaction of $149,625.00. Following the transaction, the director now directly owns 96,147 shares in the company, valued at approximately $1,918,132.65. This trade represents a 7.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.60% of the company’s stock.

Interface Stock Down 2.6 %

TILE opened at $18.37 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. Interface, Inc. has a 12 month low of $14.13 and a 12 month high of $27.34. The stock’s 50 day moving average price is $21.01 and its 200 day moving average price is $22.20. The stock has a market cap of $1.07 billion, a P/E ratio of 12.85, a P/E/G ratio of 0.96 and a beta of 1.93.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Tuesday, February 25th. The textile maker reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $335.00 million for the quarter, compared to analysts’ expectations of $340.51 million. Interface had a net margin of 6.49% and a return on equity of 19.91%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 earnings per share. As a group, research analysts predict that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Friday, March 28th. Interface’s dividend payout ratio (DPR) is presently 2.72%.

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.