Illinois Municipal Retirement Fund Trims Holdings in Interface, Inc. (NASDAQ:TILE)

Illinois Municipal Retirement Fund trimmed its stake in Interface, Inc. (NASDAQ:TILE) by 9.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 33,002 shares of the textile maker’s stock after selling 3,445 shares during the period. Illinois Municipal Retirement Fund’s holdings in Interface were worth $416,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TILE. Aristeia Capital LLC purchased a new stake in Interface during the 3rd quarter worth approximately $101,000. Olympiad Research LP purchased a new stake in Interface during the 3rd quarter worth approximately $141,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Interface by 86.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,235 shares of the textile maker’s stock worth $149,000 after buying an additional 7,052 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Interface by 21.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,465 shares of the textile maker’s stock worth $233,000 after buying an additional 3,230 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in Interface during the 3rd quarter worth approximately $264,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on TILE shares. TheStreet raised shares of Interface from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th. Barrington Research started coverage on shares of Interface in a research report on Monday, April 15th. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, Truist Financial increased their price objective on shares of Interface from $10.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, February 28th.

Interface Trading Down 0.1 %

NASDAQ TILE opened at $15.28 on Thursday. Interface, Inc. has a one year low of $6.51 and a one year high of $18.47. The firm has a market cap of $889.30 million, a PE ratio of 20.11, a P/E/G ratio of 1.00 and a beta of 1.98. The firm’s fifty day moving average is $15.72 and its two-hundred day moving average is $12.83. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 2.72.

Interface (NASDAQ:TILE) last announced its earnings results on Tuesday, February 27th. The textile maker reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.19. Interface had a return on equity of 14.95% and a net margin of 3.53%. The company had revenue of $325.10 million for the quarter, compared to the consensus estimate of $320.16 million. During the same period last year, the business posted $0.31 EPS. The company’s revenue was down 3.1% on a year-over-year basis. Analysts expect that Interface, Inc. will post 1.05 earnings per share for the current year.

Interface Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend was Wednesday, March 27th. Interface’s dividend payout ratio (DPR) is 5.26%.

Interface Profile

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.