Interface, Inc. $TILE Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ cut its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 34.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,284 shares of the textile maker’s stock after selling 26,200 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.08% of Interface worth $1,426,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. CSM Advisors LLC acquired a new stake in shares of Interface in the second quarter valued at $2,623,000. Allspring Global Investments Holdings LLC lifted its stake in Interface by 62.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 23,821 shares of the textile maker’s stock worth $499,000 after acquiring an additional 9,172 shares in the last quarter. HB Wealth Management LLC purchased a new position in Interface during the 3rd quarter valued at about $1,161,000. American Century Companies Inc. grew its position in Interface by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 2,286,286 shares of the textile maker’s stock valued at $47,852,000 after acquiring an additional 71,961 shares in the last quarter. Finally, Jupiter Asset Management Ltd. increased its stake in Interface by 2.9% during the second quarter. Jupiter Asset Management Ltd. now owns 353,183 shares of the textile maker’s stock worth $7,392,000 after purchasing an additional 10,081 shares during the period. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Interface from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Zacks Research downgraded shares of Interface from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. Barrington Research upped their price objective on Interface from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Finally, Wall Street Zen upgraded Interface from a “buy” rating to a “strong-buy” rating in a report on Saturday. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Interface has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Interface Price Performance

Interface stock opened at $32.56 on Friday. The stock has a market cap of $1.90 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 1.09 and a beta of 1.90. The company has a fifty day simple moving average of $30.76 and a 200-day simple moving average of $28.47. Interface, Inc. has a 12-month low of $17.24 and a 12-month high of $35.11. The company has a current ratio of 2.89, a quick ratio of 1.70 and a debt-to-equity ratio of 0.49.

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.