Tennant (NYSE:TNC) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its position in shares of Tennant (NYSE:TNC) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,250,515 shares of the industrial products company’s stock after purchasing an additional 24,019 shares during the quarter. Vanguard Group Inc. owned 12.09% of Tennant worth $208,600,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of Tennant by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 612,032 shares of the industrial products company’s stock worth $56,729,000 after purchasing an additional 14,008 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Tennant by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 231,059 shares of the industrial products company’s stock worth $21,417,000 after buying an additional 4,102 shares in the last quarter. Norges Bank acquired a new position in shares of Tennant in the fourth quarter worth $12,193,000. Invesco Ltd. lifted its position in shares of Tennant by 57.8% in the third quarter. Invesco Ltd. now owns 115,739 shares of the industrial products company’s stock valued at $8,582,000 after acquiring an additional 42,407 shares in the last quarter. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Tennant during the fourth quarter valued at $4,930,000. 93.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Tennant from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th.

Tennant Price Performance

TNC stock opened at $98.54 on Wednesday. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 16.37 and a beta of 1.02. The stock’s fifty day simple moving average is $103.48 and its 200-day simple moving average is $103.88. Tennant has a 52-week low of $72.81 and a 52-week high of $124.11. The company has a quick ratio of 1.46, a current ratio of 2.15 and a debt-to-equity ratio of 0.34.

Tennant (NYSE:TNC) last posted its quarterly earnings results on Friday, May 3rd. The industrial products company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.45 by $0.36. The company had revenue of $311.00 million during the quarter, compared to analysts’ expectations of $314.10 million. Tennant had a return on equity of 23.16% and a net margin of 9.10%. Equities research analysts expect that Tennant will post 6.56 EPS for the current year.

Tennant Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Friday, May 31st. Tennant’s dividend payout ratio is currently 18.60%.

Tennant 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.