Interface, Inc. (NASDAQ:TILE) Shares Sold by Meros Investment Management LP

Key Points

• Meros Investment Management LP reduced its stake in Interface, Inc. by 3.1%, owning 411,498 shares valued at approximately $8.16 million.
• Interface's stock recently reported quarterly earnings of $0.60 EPS, exceeding estimates, with revenue of $375.52 million, reflecting an 8.3% year-over-year increase.
• The company announced a $0.02 dividend to be paid on September 12th, with a current dividend payout ratio of 2.47%.

Meros Investment Management LP trimmed its position in Interface, Inc. (NASDAQ:TILE - Free Report) by 3.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 411,498 shares of the textile maker's stock after selling 13,296 shares during the quarter. Interface comprises approximately 4.8% of Meros Investment Management LP's holdings, making the stock its 6th largest position. Meros Investment Management LP owned 0.71% of Interface worth $8,164,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of TILE. Virtus Fund Advisers LLC acquired a new stake in shares of Interface in the fourth quarter worth $48,000. Versant Capital Management Inc lifted its stake in shares of Interface by 49.6% in the first quarter. Versant Capital Management Inc now owns 2,458 shares of the textile maker's stock worth $49,000 after buying an additional 815 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Interface in the fourth quarter worth $217,000. PharVision Advisers LLC acquired a new stake in shares of Interface in the fourth quarter worth $223,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Interface by 56.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 14,649 shares of the textile maker's stock worth $291,000 after buying an additional 5,299 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Interface Price Performance

NASDAQ:TILE opened at $26.62 on Friday. The stock has a market cap of $1.56 billion, a P/E ratio of 16.43, a PEG ratio of 1.05 and a beta of 2.00. Interface, Inc. has a one year low of $17.04 and a one year high of $27.34. The company has a fifty day moving average price of $22.01 and a 200 day moving average price of $20.82. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.88 and a quick ratio of 1.59.

Interface (NASDAQ:TILE - Get Free Report) last released its earnings results on Friday, August 1st. The textile maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.47 by $0.13. The firm had revenue of $375.52 million during the quarter, compared to analysts' expectations of $360.57 million. Interface had a net margin of 7.08% and a return on equity of 18.97%. The business's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 EPS. Analysts anticipate that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be paid a $0.02 dividend. The ex-dividend date is Friday, August 29th. Interface's dividend payout ratio is currently 2.47%.

Insiders Place Their Bets

In other news, VP James Poppens sold 19,474 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $20.14, for a total value of $392,206.36. Following the sale, the vice president owned 130,142 shares of the company's stock, valued at approximately $2,621,059.88. This represents a 13.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stansfield Nigel sold 79,497 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $25.60, for a total transaction of $2,035,123.20. Following the completion of the sale, the vice president directly owned 65,125 shares in the company, valued at approximately $1,667,200. The trade was a 54.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,497 shares of company stock valued at $2,437,913. Corporate insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on TILE. Barrington Research upped their target price on shares of Interface from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Wall Street Zen upgraded shares of Interface from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th.

Interface 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.

Want to see what other hedge funds are holding TILE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Interface, Inc. (NASDAQ:TILE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.