Allspring Global Investments Holdings LLC Buys New Shares in Interface, Inc. (NASDAQ:TILE)

Allspring Global Investments Holdings LLC purchased a new stake in shares of Interface, Inc. (NASDAQ:TILE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,350 shares of the textile maker’s stock, valued at approximately $228,000.

Several other institutional investors have also added to or reduced their stakes in the company. Quarry LP increased its position in shares of Interface by 499.5% during the third quarter. Quarry LP now owns 2,476 shares of the textile maker’s stock valued at $47,000 after buying an additional 2,063 shares during the period. National Bank of Canada FI lifted its stake in shares of Interface by 33.7% in the 3rd quarter. National Bank of Canada FI now owns 3,399 shares of the textile maker’s stock valued at $64,000 after purchasing an additional 856 shares during the period. KBC Group NV boosted its position in shares of Interface by 70.7% during the third quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock valued at $66,000 after purchasing an additional 1,438 shares in the last quarter. GAMMA Investing LLC grew its stake in Interface by 17.5% in the fourth quarter. GAMMA Investing LLC now owns 3,880 shares of the textile maker’s stock worth $94,000 after purchasing an additional 578 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in Interface by 174.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,934 shares of the textile maker’s stock worth $113,000 after purchasing an additional 3,770 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Interface Stock Down 11.5 %

Shares of NASDAQ:TILE opened at $18.87 on Wednesday. Interface, Inc. has a 12-month low of $13.15 and a 12-month high of $27.34. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.96 and a beta of 2.10. The stock has a fifty day simple moving average of $23.84 and a two-hundred day simple moving average of $21.91. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66.

Interface (NASDAQ:TILE) last announced its quarterly earnings results on Tuesday, February 25th. The textile maker reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Interface had a net margin of 6.49% and a return on equity of 19.91%. The company had revenue of $335.00 million for the quarter, compared to analysts’ expectations of $340.51 million. During the same quarter in the previous year, the business posted $0.41 EPS. Interface’s revenue was up 3.0% compared to the same quarter last year. On average, research analysts anticipate that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Insider Transactions at Interface

In other news, VP David B. Foshee sold 15,175 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $26.27, for a total transaction of $398,647.25. Following the completion of the sale, the vice president now owns 202,398 shares of the company’s stock, valued at $5,316,995.46. This represents a 6.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel T. Hendrix sold 12,500 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $23.78, for a total value of $297,250.00. Following the completion of the sale, the director now owns 103,647 shares of the company’s stock, valued at $2,464,725.66. This trade represents a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,175 shares of company stock worth $1,471,087. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

TILE has been the topic of a number of research reports. StockNews.com upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a report on Monday. Barrington Research reissued an “outperform” rating and set a $30.00 price objective on shares of Interface in a research note on Tuesday.

About Interface

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.