Royce & Associates LP Increases Stake in Interface, Inc. $TILE

Royce & Associates LP increased its stake in Interface, Inc. (NASDAQ:TILE) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 369,509 shares of the textile maker’s stock after acquiring an additional 17,570 shares during the period. Royce & Associates LP owned approximately 0.63% of Interface worth $10,694,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. TD Private Client Wealth LLC acquired a new position in shares of Interface in the 3rd quarter valued at $32,000. Blue Trust Inc. acquired a new position in Interface in the third quarter valued at $34,000. EverSource Wealth Advisors LLC acquired a new position in Interface in the second quarter valued at $35,000. Richardson Financial Services Inc. grew its position in Interface by 166.4% during the third 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. Finally, Global Retirement Partners LLC increased its stake in Interface by 63.3% during the third quarter. Global Retirement Partners LLC now owns 1,759 shares of the textile maker’s stock worth $51,000 after acquiring an additional 682 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Interface Trading Down 2.9%

TILE opened at $29.50 on Wednesday. The firm’s 50 day moving average is $31.17 and its 200-day moving average is $28.75. Interface, Inc. has a 52-week low of $17.24 and a 52-week high of $35.11. The company has a quick ratio of 1.18, a current ratio of 2.34 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.72 billion, a P/E ratio of 15.05, a P/E/G ratio of 0.99 and a beta of 1.87.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Tuesday, February 24th. The textile maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.09. Interface had a net margin of 8.37% and a return on equity of 19.54%. The business had revenue of $349.39 million during the quarter, compared to analyst estimates of $350.54 million. During the same period last year, the business earned $0.34 EPS. The business’s revenue was up 4.3% on a year-over-year basis. Analysts expect that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, March 27th. This is a positive change from Interface’s previous quarterly dividend of $0.02. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. Interface’s dividend payout ratio is presently 4.08%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Barrington Research boosted their target price on Interface from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Zacks Research downgraded shares of Interface from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. Wall Street Zen lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Finally, Weiss Ratings upgraded shares of Interface from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Interface has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

About Interface

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.