Allianz Asset Management GmbH Sells 116,795 Shares of Interface, Inc. $TILE

Allianz Asset Management GmbH trimmed its position in Interface, Inc. (NASDAQ:TILE) by 20.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 450,343 shares of the textile maker’s stock after selling 116,795 shares during the quarter. Allianz Asset Management GmbH’s holdings in Interface were worth $13,033,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. IFP Advisors Inc increased its position in Interface by 2,695.2% during the second quarter. IFP Advisors Inc now owns 1,174 shares of the textile maker’s stock worth $25,000 after buying an additional 1,132 shares during the last quarter. TD Private Client Wealth LLC bought a new position in shares of Interface during the 3rd quarter worth approximately $32,000. Blue Trust Inc. bought a new position in shares of Interface during the 3rd quarter worth approximately $34,000. EverSource Wealth Advisors LLC acquired a new position in shares of Interface during the 2nd quarter worth approximately $35,000. Finally, Richardson Financial Services Inc. raised its stake in Interface by 166.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,569 shares of the textile maker’s stock valued at $45,000 after acquiring an additional 980 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Interface Trading Up 2.2%

Shares of Interface stock opened at $34.63 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.70 and a current ratio of 2.89. The firm has a 50-day moving average of $29.62 and a 200-day moving average of $27.67. Interface, Inc. has a 52-week low of $17.24 and a 52-week high of $34.83. The stock has a market cap of $2.02 billion, a PE ratio of 18.04, a PEG ratio of 1.15 and a beta of 1.90.

Interface Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were issued a $0.02 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.08 dividend on an annualized basis and a yield of 0.2%. Interface’s payout ratio is currently 4.17%.

Analysts Set New Price Targets

Several brokerages have issued reports on TILE. Barrington Research raised their price target on Interface from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Weiss Ratings cut shares of Interface from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, December 24th. Zacks Research downgraded shares of Interface from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. Finally, Wall Street Zen cut shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 16th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.00.

Interface 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.