Everence Capital Management Inc. Cuts Stock Position in Interface, Inc. (NASDAQ:TILE)

Everence Capital Management Inc. lowered its holdings in Interface, Inc. (NASDAQ:TILE) by 30.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,680 shares of the textile maker’s stock after selling 11,480 shares during the period. Everence Capital Management Inc.’s holdings in Interface were worth $324,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TILE. Captrust Financial Advisors boosted its holdings in shares of Interface by 228.8% in the 1st quarter. Captrust Financial Advisors now owns 2,604 shares of the textile maker’s stock worth $35,000 after purchasing an additional 1,812 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Interface by 407.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,899 shares of the textile maker’s stock valued at $43,000 after acquiring an additional 3,934 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Interface during the 2nd quarter valued at about $50,000. Lazard Asset Management LLC purchased a new stake in Interface during the 4th quarter valued at about $61,000. Finally, ExodusPoint Capital Management LP purchased a new stake in Interface during the 1st quarter valued at about $87,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Analysts Set New Price Targets

TILE has been the subject of a number of research analyst reports. TheStreet raised Interface from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. Truist Financial lifted their target price on Interface from $10.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, February 28th. Finally, Barrington Research assumed coverage on Interface in a research note on Monday. They issued an “outperform” rating and a $20.00 price target on the stock.

Interface Price Performance

NASDAQ TILE opened at $14.93 on Friday. The company has a market capitalization of $868.93 million, a PE ratio of 19.64, a price-to-earnings-growth ratio of 0.94 and a beta of 1.98. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 2.72. The business’s fifty day moving average is $15.32 and its 200 day moving average is $12.44. Interface, Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $18.47.

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

Interface Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.27%. Interface’s dividend payout ratio (DPR) is presently 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.