Tennant (NYSE:TNC) Shares Purchased by Barclays PLC

Barclays PLC raised its holdings in Tennant (NYSE:TNC) by 222.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,151 shares of the industrial products company’s stock after acquiring an additional 27,712 shares during the quarter. Barclays PLC owned 0.21% of Tennant worth $3,857,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Eagle Asset Management Inc. bought a new stake in Tennant during the third quarter worth approximately $3,873,000. Algert Global LLC lifted its position in shares of Tennant by 16.3% during the 3rd quarter. Algert Global LLC now owns 43,391 shares of the industrial products company’s stock valued at $4,167,000 after acquiring an additional 6,085 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Tennant by 98.0% during the 2nd quarter. Victory Capital Management Inc. now owns 22,290 shares of the industrial products company’s stock worth $2,194,000 after acquiring an additional 11,034 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Tennant by 129.3% in the 2nd quarter. TD Asset Management Inc now owns 13,300 shares of the industrial products company’s stock worth $1,309,000 after acquiring an additional 7,500 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new position in shares of Tennant in the 2nd quarter worth $1,055,000. Institutional investors and hedge funds own 93.33% of the company’s stock.

Tennant Trading Down 1.7 %

NYSE TNC opened at $80.29 on Monday. The firm’s 50 day moving average price is $88.06 and its two-hundred day moving average price is $94.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 2.17. Tennant has a twelve month low of $79.71 and a twelve month high of $124.11. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 14.16 and a beta of 1.00.

Tennant (NYSE:TNC) last issued its earnings results on Thursday, October 31st. The industrial products company reported $1.39 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.05). The business had revenue of $315.80 million during the quarter, compared to analyst estimates of $319.40 million. Tennant had a return on equity of 21.50% and a net margin of 8.52%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the business earned $1.34 EPS. Equities analysts anticipate that Tennant will post 6.43 EPS for the current year.

Tennant Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.295 dividend. This is an increase from Tennant’s previous quarterly dividend of $0.28. The ex-dividend date was Friday, November 29th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.47%. Tennant’s dividend payout ratio is currently 20.81%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TNC shares. StockNews.com downgraded Tennant from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Northcoast Research initiated coverage on shares of Tennant in a research note on Thursday. They set a “buy” rating and a $125.00 price objective for the company.

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.