Illinois Municipal Retirement Fund Sells 3,445 Shares of Interface, Inc. (NASDAQ:TILE)

Illinois Municipal Retirement Fund lessened its stake in shares of Interface, Inc. (NASDAQ:TILE) by 9.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,002 shares of the textile maker’s stock after selling 3,445 shares during the period. Illinois Municipal Retirement Fund owned 0.06% of Interface worth $416,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aristeia Capital LLC bought a new position in shares of Interface in the 3rd quarter valued at about $101,000. Olympiad Research LP bought a new position in shares of Interface in the 3rd quarter valued at about $141,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Interface by 86.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,235 shares of the textile maker’s stock valued at $149,000 after acquiring an additional 7,052 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Interface by 21.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,465 shares of the textile maker’s stock valued at $233,000 after acquiring an additional 3,230 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Interface in the 3rd quarter valued at about $264,000. Institutional investors own 98.34% of the company’s stock.

Analyst Upgrades and Downgrades

TILE has been the subject of a number of analyst reports. Truist Financial increased their price target on shares of Interface from $10.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, February 28th. Barrington Research began 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, TheStreet raised shares of Interface from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th.

Interface Stock Performance

Interface stock opened at $15.28 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.72 and a quick ratio of 1.42. Interface, Inc. has a 1-year low of $6.51 and a 1-year high of $18.47. The firm has a market capitalization of $889.30 million, a P/E ratio of 20.11, a price-to-earnings-growth ratio of 1.00 and a beta of 1.98. The company’s 50-day moving average is $15.72 and its 200 day moving average is $12.83.

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

Interface Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were given 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 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.