Meros Investment Management LP Invests $6.77 Million in Interface, Inc. $TILE

Meros Investment Management LP acquired a new position in shares of Interface, Inc. (NASDAQ:TILE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 188,776 shares of the textile maker’s stock, valued at approximately $6,765,732. Interface comprises about 0.0% of Meros Investment Management LP’s holdings, making the stock its 16th biggest holding. Meros Investment Management LP owned approximately 0.33% of Interface as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the business. Royal Bank of Canada increased its stake in shares of Interface by 8.4% in the first quarter. Royal Bank of Canada now owns 19,657 shares of the textile maker’s stock valued at $390,000 after buying an additional 1,522 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Interface by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,118 shares of the textile maker’s stock valued at $677,000 after acquiring an additional 1,485 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Interface by 5.9% in the first quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker’s stock worth $14,854,000 after acquiring an additional 42,011 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Interface by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 151,950 shares of the textile maker’s stock worth $3,015,000 after acquiring an additional 9,580 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Interface by 24.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 201,630 shares of the textile maker’s stock valued at $4,220,000 after acquiring an additional 39,941 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on TILE. Barrington Research boosted their price objective on Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Wall Street Zen lowered Interface from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Benchmark began coverage on Interface in a research report on Tuesday, May 19th. They set a “buy” rating and a $36.00 price objective for the company. Weiss Ratings upgraded Interface from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Finally, Zacks Research upgraded Interface from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $40.50.

Insider Buying and Selling

In other news, CEO Laurel Hurd sold 7,000 shares of Interface stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $39.09, for a total transaction of $273,630.00. Following the completion of the sale, the chief executive officer owned 506,978 shares in the company, valued at $19,817,770.02. The trade was a 1.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.47% of the stock is currently owned by corporate insiders.

Interface Trading Up 1.4%

Shares of NASDAQ:TILE traded up $0.52 on Friday, hitting $38.41. 310,966 shares of the company’s stock were exchanged, compared to its average volume of 522,715. Interface, Inc. has a 12 month low of $24.40 and a 12 month high of $40.50. The business’s 50 day simple moving average is $35.28 and its two-hundred day simple moving average is $31.10. 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 stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 1.09 and a beta of 1.90.

Interface (NASDAQ:TILE) last posted its quarterly earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.24. The business had revenue of $395.70 million during the quarter, compared to analyst estimates of $391.22 million. Interface had a return on equity of 21.77% and a net margin of 10.10%.The business’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. Analysts anticipate that Interface, Inc. will post 2.36 EPS for the current fiscal year.

Interface Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors 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 dividend on an annualized basis and a yield of 0.3%. Interface’s dividend payout ratio (DPR) is presently 4.86%.

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.