Algert Global LLC increased its position in shares of Tennant (NYSE:TNC – Free Report) by 87.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,247 shares of the industrial products company’s stock after acquiring an additional 16,467 shares during the period. Algert Global LLC owned approximately 0.19% of Tennant worth $2,614,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the company. 1832 Asset Management L.P. raised its position in shares of Tennant by 69.2% in the second quarter. 1832 Asset Management L.P. now owns 379 shares of the industrial products company’s stock worth $31,000 after buying an additional 155 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Tennant by 333.0% in the second quarter. Point72 Asset Management L.P. now owns 433 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 333 shares during the last quarter. Advisor Group Holdings Inc. raised its position in Tennant by 181.6% during the fourth quarter. Advisor Group Holdings Inc. now owns 780 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 503 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Tennant during the first quarter valued at about $53,000. Finally, Captrust Financial Advisors lifted its stake in Tennant by 15.5% during the second quarter. Captrust Financial Advisors now owns 1,090 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 146 shares during the last quarter. 91.14% of the stock is currently owned by hedge funds and other institutional investors.
Tennant Stock Performance
NYSE TNC opened at $106.21 on Friday. The company has a 50-day simple moving average of $93.88 and a two-hundred day simple moving average of $85.30. Tennant has a 12-month low of $63.30 and a 12-month high of $106.66. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 18.22 and a beta of 1.06. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.34.
Tennant (NYSE:TNC – Get Free Report) last released its earnings results on Thursday, February 22nd. The industrial products company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.65. Tennant had a return on equity of 23.07% and a net margin of 8.81%. The company had revenue of $311.40 million during the quarter, compared to analyst estimates of $309.87 million. During the same quarter in the previous year, the company posted $1.46 EPS. Tennant’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities analysts forecast that Tennant will post 6.23 EPS for the current year.
Tennant Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 29th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Wednesday, February 28th. Tennant’s dividend payout ratio is 19.21%.
Wall Street Analyst Weigh In
TNC has been the topic of a number of research reports. CJS Securities raised Tennant from a “market perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a report on Wednesday, November 1st. CL King started coverage on shares of Tennant in a research note on Thursday, December 28th. They set a “buy” rating and a $112.00 price target on the stock.
Tennant Company Profile
Tennant Company, together with its subsidiaries, designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers a suite of products, including floor maintenance and cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, and asset management solutions.