Russell Investments Group Ltd. cuts its stock holdings in Interface, Inc. (NASDAQ:TILE)


Russell Investments Group Ltd. reduced its position in shares of Interface, Inc. (NASDAQ:TILE – Get Rating) by 14.9% during the first quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The fund held 77,872 shares of the textile maker after selling 13,641 shares during the quarter. Russell Investments Group Ltd. held 0.13% of Interface worth $1,056,000 at the time of its last filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of TILE. Allspring Global Investments Holdings LLC bought a new position in Interface during Q4 for a value of $875,000. Qube Research & Technologies Ltd bought a new position in shares of Interface in Q4 for a value of approximately $186,000. Advisor Group Holdings Inc. increased its holdings of Interface shares by 19.8% in the fourth quarter. Advisor Group Holdings Inc. now owns 7,584 shares of the textile maker worth $122,000 after buying 1,256 additional shares in the last quarter. Envestnet Asset Management Inc. increased its holdings of Interface shares by 49.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 41,940 shares of the textile maker worth $669,000 after buying 13,876 additional shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Interface shares by 110.1% in the 4th quarter. American Century Companies Inc. now owns 256,666 shares of the textile maker worth $4,094,000 after buying an additional 134,525 shares in the last quarter. 96.30% of the shares are held by hedge funds and other institutional investors.

Wall Street analysts predict growth

Separately, TheStreet downgraded Interface shares from a “c+” rating to a “b-” rating in a Friday, August 5, report.

Interface price performance

NASDAQ:TILE shares opened at $12.86 on Friday. The company’s 50-day moving average is $13.20 and its 200-day moving average is $13.37. The company has a debt ratio of 1.53, a quick ratio of 1.24 and a current ratio of 2.51. The company has a market capitalization of $764.75 million, a P/E ratio of 12.13 and a beta of 1.76. Interface, Inc. has a fifty-two week low of $11.87 and a fifty-two week high of $18.03.

Interface (NASDAQ:TILE – Get Rating) last released its quarterly earnings data on Friday, August 5. The textile maker reported EPS of $0.36 for the quarter, beating the consensus estimate of $0.32 by $0.04. The company posted revenue of $346.60 million for the quarter, versus a consensus estimate of $357.70 million. Interface had a net margin of 4.89% and a return on equity of 23.39%. The company’s revenue increased by 17.6% compared to the same quarter last year. In the same period a year earlier, the company earned earnings per share of $0.30. On average, stock research analysts expect Interface, Inc. to post 1.21 earnings per share for the current year.

The interface increases the dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 16. Shareholders of record on Friday, September 2 will receive a dividend of $0.10 per share. The ex-date of this dividend is Thursday, September 1. This is an increase from Interface’s previous quarterly dividend of $0.01. This represents an annualized dividend of $0.40 and a yield of 3.11%. Interface’s dividend payout ratio is 3.77%.

Interface profile

(Get an evaluation)

Interface, Inc, a modular flooring company, designs, produces and sells modular carpet products primarily in America, Europe and Asia-Pacific. The company offers modular carpets under the Interface and FLOR brands; carpet tiles under the name GlasBacRE for use in commercial interiors, including offices, healthcare facilities, airports, educational and other facilities, hospitality and retail spaces, as well as residential interiors; modular resilient flooring products; rubber flooring under the norament and noraplan brands; and luxury vinyl tile products.

See also

Want to see which other hedge funds hold TILE? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Interface, Inc. (NASDAQ:TILE – Get Rating).

Institutional ownership by quarter for Interface (NASDAQ:TILE)



Receive news and reviews for Interface Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Interface and related companies with MarketBeat.com’s free daily email newsletter.