Northern Trust Corp grew its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 6.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 834,021 shares of the textile maker’s stock after purchasing an additional 47,946 shares during the quarter. Northern Trust Corp owned about 1.40% of Interface worth $19,140,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in TILE. Millennium Management LLC boosted its position in shares of Interface by 7.2% during the 2nd quarter. Millennium Management LLC now owns 662,089 shares of the textile maker’s stock valued at $15,195,000 after acquiring an additional 44,402 shares in the last quarter. Zebra Capital Management LLC boosted its position in shares of Interface by 9.6% during the 2nd quarter. Zebra Capital Management LLC now owns 36,939 shares of the textile maker’s stock valued at $848,000 after acquiring an additional 3,223 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of Interface by 75.1% during the 2nd quarter. Macquarie Group Ltd. now owns 78,370 shares of the textile maker’s stock valued at $1,799,000 after acquiring an additional 33,600 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of Interface by 53.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 22,952 shares of the textile maker’s stock valued at $527,000 after acquiring an additional 7,979 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Interface during the 2nd quarter valued at about $665,000. Institutional investors and hedge funds own 92.02% of the company’s stock.
TILE has been the topic of several recent research reports. ValuEngine lowered shares of Interface from a “sell” rating to a “strong sell” rating in a research report on Monday. BidaskClub lowered shares of Interface from a “buy” rating to a “hold” rating in a research report on Saturday, July 21st. Zacks Investment Research upgraded shares of Interface from a “hold” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a research report on Friday, August 10th. Macquarie set a $20.00 target price on shares of Interface and gave the company a “hold” rating in a research report on Friday, October 26th. Finally, Longbow Research upgraded shares of Interface from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, August 14th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $25.33.
NASDAQ:TILE opened at $16.29 on Thursday. The stock has a market capitalization of $982.25 million, a price-to-earnings ratio of 13.67 and a beta of 1.12. Interface, Inc. has a 12 month low of $15.79 and a 12 month high of $26.25. The company has a current ratio of 2.57, a quick ratio of 1.37 and a debt-to-equity ratio of 1.76.
Interface (NASDAQ:TILE) last released its quarterly earnings results on Wednesday, October 24th. The textile maker reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. The firm had revenue of $318.33 million for the quarter, compared to analyst estimates of $316.38 million. Interface had a net margin of 4.35% and a return on equity of 24.69%. During the same period in the previous year, the business earned $0.32 earnings per share. Research analysts predict that Interface, Inc. will post 1.48 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Shareholders of record on Friday, November 9th will be given a $0.065 dividend. The ex-dividend date is Thursday, November 8th. This represents a $0.26 dividend on an annualized basis and a yield of 1.60%. Interface’s dividend payout ratio (DPR) is presently 22.03%.
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 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; and luxury vinyl tile products.
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