Interface, Inc. (NASDAQ:TILE) is Meros Investment Management LP’s 4th Largest Position

Meros Investment Management LP raised its position in Interface, Inc. (NASDAQ:TILE) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 698,305 shares of the textile maker’s stock after buying an additional 10,616 shares during the period. Interface makes up about 4.8% of Meros Investment Management LP’s holdings, making the stock its 4th biggest holding. Meros Investment Management LP owned approximately 1.20% of Interface worth $10,251,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in Interface in the 2nd quarter valued at about $32,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Interface in the 1st quarter valued at about $57,000. GAMMA Investing LLC raised its stake in shares of Interface by 131.1% in the 1st quarter. GAMMA Investing LLC now owns 3,943 shares of the textile maker’s stock valued at $66,000 after purchasing an additional 2,237 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Interface in the 2nd quarter valued at about $91,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Interface in the 1st quarter valued at about $110,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Interface Price Performance

TILE opened at $18.43 on Friday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 0.97 and a beta of 1.98. Interface, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $19.45. The company’s 50-day moving average price is $17.70 and its 200 day moving average price is $16.34. The company has a quick ratio of 1.45, a current ratio of 2.76 and a debt-to-equity ratio of 0.84.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Friday, August 2nd. The textile maker reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.12. Interface had a net margin of 5.20% and a return on equity of 18.42%. The firm had revenue of $346.60 million for the quarter, compared to analyst estimates of $340.21 million. During the same quarter in the prior year, the business earned $0.25 earnings per share. Interface’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts expect that Interface, Inc. will post 1.28 earnings per share for the current year.

Interface Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.22%. Interface’s payout ratio is currently 3.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TILE shares. Barrington Research restated an “outperform” rating and issued a $22.00 target price on shares of Interface in a research note on Friday, September 20th. StockNews.com upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 6th.

Insider Buying and Selling at Interface

In other Interface news, CFO Bruce Andrew Hausmann sold 55,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $17.00, for a total value of $935,000.00. Following the sale, the chief financial officer now owns 198,475 shares in the company, valued at $3,374,075. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Interface news, CFO Bruce Andrew Hausmann sold 55,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $17.00, for a total value of $935,000.00. Following the sale, the chief financial officer now owns 198,475 shares in the company, valued at $3,374,075. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel T. Hendrix sold 2,153 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $14.67, for a total transaction of $31,584.51. Following the completion of the transaction, the director now owns 246,147 shares of the company’s stock, valued at $3,610,976.49. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 125,858 shares of company stock worth $2,091,604. 2.60% of the stock is owned by company insiders.

Interface Company Profile

Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.