Interface, Inc. (NASDAQ:TILE – Get Rating) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 1,090,000 shares, a drop of 16.2% from the August 31st total of 1,300,000 shares. Currently, 1.9% of the company’s shares are short sold. Based on an average daily volume of 239,500 shares, the short-interest ratio is currently 4.6 days.
Institutional Investors Weigh In On Interface
Institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC purchased a new stake in shares of Interface during the 1st quarter worth $157,000. GSA Capital Partners LLP lifted its position in shares of Interface by 5.4% during the 1st quarter. GSA Capital Partners LLP now owns 19,931 shares of the textile maker’s stock worth $270,000 after purchasing an additional 1,026 shares during the last quarter. ACG Wealth purchased a new stake in shares of Interface during the 2nd quarter worth $101,000. Green Alpha Advisors LLC lifted its position in shares of Interface by 1.1% during the 1st quarter. Green Alpha Advisors LLC now owns 93,208 shares of the textile maker’s stock worth $1,265,000 after purchasing an additional 986 shares during the last quarter. Finally, Reynders McVeigh Capital Management LLC lifted its position in shares of Interface by 11.5% during the 1st quarter. Reynders McVeigh Capital Management LLC now owns 683,475 shares of the textile maker’s stock worth $9,275,000 after purchasing an additional 70,445 shares during the last quarter. 90.02% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Separately, TheStreet downgraded shares of Interface from a “b-” rating to a “c+” rating in a report on Wednesday, September 21st.
Interface Stock Performance
NASDAQ:TILE opened at $9.43 on Thursday. The company has a fifty day simple moving average of $11.95 and a two-hundred day simple moving average of $12.81. The company has a market cap of $560.80 million, a price-to-earnings ratio of 8.81 and a beta of 1.81. The company has a quick ratio of 1.24, a current ratio of 2.51 and a debt-to-equity ratio of 1.53. Interface has a 52 week low of $8.90 and a 52 week high of $18.03.
Interface (NASDAQ:TILE – Get Rating) last posted its quarterly earnings results on Friday, August 5th. The textile maker reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. The business had revenue of $346.60 million during the quarter, compared to the 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 quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 earnings per share. As a group, equities analysts anticipate that Interface will post 1.21 earnings per share for the current fiscal year.
Interface Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were paid a $0.10 dividend. This is an increase from Interface’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.40 annualized dividend and a dividend yield of 4.24%. Interface’s payout ratio is 3.77%.
Interface Company Profile
Interface, Inc, a modular flooring company, designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific. The company offers modular carpets under the Interface and FLOR brand names; carpet tiles under the GlasBacRE name for use in commercial interiors, including offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; modular resilient flooring products; rubber flooring under the norament and noraplan brand names; and luxury vinyl tile products.
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