Meros Investment Management LP Purchases New Stake in Interface, Inc. $TILE

Meros Investment Management LP bought a new position in Interface, Inc. (NASDAQ:TILE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 188,776 shares of the textile maker’s stock, valued at approximately $6,765,732,000. Interface makes up approximately 2.1% of Meros Investment Management LP’s portfolio, making the stock its 16th biggest holding. Meros Investment Management LP owned 0.33% of Interface at the end of the most recent quarter.

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

Interface Stock Performance

Shares of Interface stock opened at $38.95 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.35 and a current ratio of 2.53. Interface, Inc. has a one year low of $24.40 and a one year high of $40.50. The business’s 50 day moving average price is $35.02 and its 200 day moving average price is $31.04. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.08 and a beta of 1.90.

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

Interface Dividend Announcement

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

Insiders Place Their Bets

In other Interface news, CEO Laurel Hurd sold 7,000 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was 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 of the company’s stock, valued at approximately $19,817,770.02. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barrington Research raised their price target on shares of Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Wall Street Zen downgraded Interface from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Benchmark started coverage on Interface in a research report on Tuesday, May 19th. They issued a “buy” rating and a $36.00 price objective for the company. Zacks Research downgraded Interface from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings raised Interface from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Interface presently has a consensus rating of “Moderate Buy” and an average price target of $40.50.

Interface Company 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.