Federated Hermes Inc. Increases Stake in Interface, Inc. $TILE

Federated Hermes Inc. increased its position in shares of Interface, Inc. (NASDAQ:TILE) by 21.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 137,992 shares of the textile maker’s stock after buying an additional 24,534 shares during the period. Federated Hermes Inc. owned about 0.24% of Interface worth $3,993,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Congress Asset Management Co. grew its holdings in Interface by 2.9% during the 3rd quarter. Congress Asset Management Co. now owns 2,544,381 shares of the textile maker’s stock worth $73,634,000 after acquiring an additional 70,840 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Interface by 3.2% during the 2nd quarter. American Century Companies Inc. now owns 2,286,286 shares of the textile maker’s stock worth $47,852,000 after purchasing an additional 71,961 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Interface by 0.7% during the second quarter. Geode Capital Management LLC now owns 1,433,183 shares of the textile maker’s stock worth $30,000,000 after purchasing an additional 10,537 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Interface by 5.9% in the first quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker’s stock valued at $14,854,000 after buying an additional 42,011 shares during the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Interface by 1.3% during the 2nd quarter. Prudential Financial Inc. now owns 642,865 shares of the textile maker’s stock worth $13,455,000 after buying an additional 8,255 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Interface Price Performance

Shares of NASDAQ TILE opened at $32.67 on Wednesday. The stock has a market cap of $1.91 billion, a P/E ratio of 17.02, a P/E/G ratio of 1.07 and a beta of 1.90. Interface, Inc. has a twelve month low of $17.24 and a twelve month high of $32.80. The stock has a 50 day moving average of $29.25 and a two-hundred day moving average of $27.43. The company has a current ratio of 2.89, a quick ratio of 1.70 and a debt-to-equity ratio of 0.49.

Interface Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, November 28th. Interface’s dividend payout ratio is presently 4.17%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barrington Research raised their target price on Interface from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Zacks Research cut shares of Interface from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. Weiss Ratings cut shares of Interface from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, December 24th. Finally, Wall Street Zen downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 16th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $36.00.

About Interface

Interface, Inc (NASDAQ: TILE) is a global manufacturer of modular flooring and resilient commercial flooring solutions. The company specializes in carpet tiles, luxury vinyl tile (LVT) and other environmentally responsible hard-surface products designed for use in corporate, education, healthcare, hospitality and retail environments. Interface’s portfolio also includes broadloom carpet, rubber flooring and acoustic underlays, all engineered to meet performance, design and sustainability requirements in modern interior spaces.

Founded in 1973 by Ray C.