Deutsche Bank AG Acquires Shares of 65,482 Interface, Inc. $TILE

Deutsche Bank AG acquired a new position in shares of Interface, Inc. (NASDAQ:TILE) during the second quarter, Holdings Channel reports. The fund acquired 65,482 shares of the textile maker’s stock, valued at approximately $2,347,000.

Other institutional investors have also recently made changes to their positions in the company. Perigon Wealth Management LLC purchased a new stake in shares of Interface in the second quarter valued at about $325,000. Global Retirement Partners LLC purchased a new position in Interface during the second quarter worth about $106,000. Bank of New York Mellon Corp purchased a new position in Interface during the second quarter worth about $16,508,000. Summit Global Investments bought a new stake in Interface in the 2nd quarter worth about $1,367,000. Finally, Wedge Capital Management L L P NC grew its position in Interface by 4.7% in the 2nd quarter. Wedge Capital Management L L P NC now owns 54,401 shares of the textile maker’s stock worth $1,950,000 after purchasing an additional 2,465 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

Insider Activity

In other news, CEO Laurel Hurd sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $39.09, for a total value of $273,630.00. Following the sale, the chief executive officer owned 506,978 shares of the company’s stock, valued at $19,817,770.02. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wall Street Zen cut shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Zacks Research lowered Interface from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Barrington Research increased their price target on Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Weiss Ratings upgraded Interface from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Finally, Benchmark initiated coverage on Interface in a report on Tuesday, May 19th. They set a “buy” rating and a $36.00 price target on the stock. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

Interface Stock Down 2.1%

Shares of NASDAQ TILE opened at $37.89 on Friday. Interface, Inc. has a one year low of $24.40 and a one year high of $40.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.53 and a quick ratio of 1.35. The business’s fifty day moving average price is $35.28 and its 200-day moving average price is $31.10. The stock has a market capitalization of $2.20 billion, a PE ratio of 15.34, a P/E/G ratio of 1.09 and a beta of 1.90.

Interface (NASDAQ:TILE) last announced its quarterly earnings data on Friday, August 7th. The textile maker reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.24. Interface had a return on equity of 21.77% and a net margin of 10.10%.The company had revenue of $395.70 million during the quarter, compared to analyst estimates of $391.22 million. During the same quarter last year, the firm posted $0.60 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts anticipate that Interface, Inc. will post 2.36 EPS for the current year.

Interface Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a $0.03 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Interface’s dividend payout ratio (DPR) is presently 4.86%.

Interface Profile

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.