Interface, Inc. $TILE Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in Interface, Inc. (NASDAQ:TILE) by 1,114.3% during the third quarter, HoldingsChannel.com reports. The firm owned 289,261 shares of the textile maker’s stock after buying an additional 265,440 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Interface were worth $8,371,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Congress Asset Management Co. increased its position in Interface by 9.1% during the 2nd quarter. Congress Asset Management Co. now owns 2,473,541 shares of the textile maker’s stock worth $51,771,000 after purchasing an additional 206,962 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in Interface by 108.5% during the second quarter. Cubist Systematic Strategies LLC now owns 300,203 shares of the textile maker’s stock worth $6,283,000 after buying an additional 156,220 shares during the period. CSM Advisors LLC acquired a new stake in shares of Interface in the second quarter worth $2,623,000. First Trust Advisors LP acquired a new position in shares of Interface during the 2nd quarter valued at $2,345,000. Finally, Intech Investment Management LLC boosted its position in Interface by 104.4% during the 1st quarter. Intech Investment Management LLC now owns 216,520 shares of the textile maker’s stock worth $4,296,000 after purchasing an additional 110,597 shares during the period. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Interface Price Performance

Shares of NASDAQ:TILE opened at $29.37 on Wednesday. The firm has a 50-day simple moving average of $27.34 and a 200 day simple moving average of $26.09. The company has a market cap of $1.71 billion, a PE ratio of 15.30, a P/E/G ratio of 0.96 and a beta of 1.90. The company has a quick ratio of 1.70, a current ratio of 2.89 and a debt-to-equity ratio of 0.49. Interface, Inc. has a fifty-two week low of $17.24 and a fifty-two week high of $30.20.

Interface (NASDAQ:TILE) last announced its earnings results on Friday, October 31st. The textile maker reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.15. Interface had a return on equity of 19.30% and a net margin of 8.27%.The firm had revenue of $364.53 million for the quarter, compared to the consensus estimate of $358.19 million. During the same quarter in the previous year, the business earned $0.48 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, sell-side analysts anticipate that Interface, Inc. will post 1.37 EPS for the current year.

Interface Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were issued a $0.02 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.08 annualized dividend and a dividend yield of 0.3%. Interface’s dividend payout ratio (DPR) is 4.17%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Weiss Ratings downgraded Interface from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, December 24th. Wall Street Zen lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 16th. Zacks Research cut shares of Interface from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $32.00 price target on shares of Interface in a report on Friday, October 31st. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $32.00.

Interface Company Profile

Interface, Inc (NASDAQ: TILE) is a global manufacturer of modular flooring and resilient commercial flooring solutions. The company specializes in carpet tiles, luxury vinyl tile (LVT) and other environmentally responsible hard-surface products designed for use in corporate, education, healthcare, hospitality and retail environments. Interface’s portfolio also includes broadloom carpet, rubber flooring and acoustic underlays, all engineered to meet performance, design and sustainability requirements in modern interior spaces.

Founded in 1973 by Ray C.