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

Meros Investment Management LP cut its stake in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 34.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 424,794 shares of the textile maker's stock after selling 223,538 shares during the quarter. Interface accounts for about 4.8% of Meros Investment Management LP's investment portfolio, making the stock its 4th largest holding. Meros Investment Management LP owned approximately 0.73% of Interface worth $10,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Interface in the 4th quarter worth $2,498,000. Amundi grew its holdings in shares of Interface by 202.0% in the fourth quarter. Amundi now owns 34,408 shares of the textile maker's stock worth $804,000 after acquiring an additional 23,013 shares during the period. Jennison Associates LLC grew its holdings in shares of Interface by 103.2% in the fourth quarter. Jennison Associates LLC now owns 65,494 shares of the textile maker's stock worth $1,595,000 after acquiring an additional 33,264 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Interface in the fourth quarter worth $479,000. Finally, Vanguard Group Inc. grew its holdings in shares of Interface by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 6,116,464 shares of the textile maker's stock worth $148,936,000 after acquiring an additional 246,726 shares during the period. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TILE has been the topic of several analyst reports. Barrington Research reiterated an "outperform" rating and set a $30.00 target price on shares of Interface in a research report on Friday, May 2nd. StockNews.com upgraded Interface from a "hold" rating to a "buy" rating in a research report on Saturday.

Insiders Place Their Bets

In other news, Director Daniel T. Hendrix sold 7,500 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $19.95, for a total transaction of $149,625.00. Following the completion of the sale, the director now owns 96,147 shares in the company, valued at approximately $1,918,132.65. This represents a 7.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.30% of the stock is owned by company insiders.

Interface Price Performance

NASDAQ:TILE opened at $20.93 on Tuesday. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $1.22 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.96 and a beta of 1.95. Interface, Inc. has a 12 month low of $14.13 and a 12 month high of $27.34. The business's 50-day moving average is $19.16 and its 200 day moving average is $22.22.

Interface (NASDAQ:TILE - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The textile maker reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.04. The business had revenue of $297.41 million for the quarter, compared to the consensus estimate of $297.11 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. The company's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 earnings per share. On average, equities research analysts forecast that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.04 dividend on an annualized basis and a yield of 0.19%. Interface's dividend payout ratio is currently 2.76%.

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.

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