Meros Investment Management LP Acquires New Shares in Interface, Inc. $TILE

Meros Investment Management LP bought a new stake in shares of Interface, Inc. (NASDAQ:TILE) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 188,776 shares of the textile maker’s stock, valued at approximately $6,765,732,000. Interface accounts for 2.1% of Meros Investment Management LP’s investment portfolio, making the stock its 16th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. CIBC Private Wealth Group LLC grew its stake in shares of Interface by 180.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 631 shares during the period. Allworth Financial LP bought a new position in Interface in the 2nd quarter valued at $36,000. Larson Financial Group LLC lifted its position in Interface by 114.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker’s stock valued at $34,000 after purchasing an additional 628 shares during the period. Wexford Capital LP acquired a new stake in Interface during the 3rd quarter worth $43,000. Finally, EverSource Wealth Advisors LLC bought a new position in Interface during the second quarter worth about $35,000. 98.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TILE has been the subject of several recent research reports. Barrington Research increased their target price on shares of Interface from $36.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Benchmark assumed coverage on shares of Interface in a research note on Tuesday, May 19th. They issued a “buy” rating and a $36.00 price target 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. Weiss Ratings upgraded Interface from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Finally, Zacks Research lowered shares of Interface from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.50.

Insider Activity

In other news, CEO Laurel Hurd sold 7,000 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $39.09, for a total value 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. This represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.47% of the stock is currently owned by insiders.

Interface Stock Up 1.8%

Shares of NASDAQ:TILE opened at $38.95 on Wednesday. The business’s 50 day simple moving average is $35.02 and its two-hundred day simple moving average is $31.04. The firm has a market cap of $2.26 billion, a P/E ratio of 15.77, a PEG ratio of 1.08 and a beta of 1.90. 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 52-week low of $24.40 and a 52-week high of $40.50.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Friday, August 7th. The textile maker reported $0.88 EPS for the quarter, beating 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 firm had revenue of $395.70 million during the quarter, compared to the consensus estimate of $391.22 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, research analysts forecast that Interface, Inc. will post 2.36 EPS for the current fiscal year.

Interface Announces Dividend

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

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.