Daiwa Securities Group Inc. Purchases 1,987 Shares of Tennant (NYSE:TNC)

Daiwa Securities Group Inc. lifted its stake in Tennant (NYSE:TNC) by 70.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,818 shares of the industrial products company’s stock after buying an additional 1,987 shares during the period. Daiwa Securities Group Inc.’s holdings in Tennant were worth $586,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Albert D Mason Inc. boosted its position in Tennant by 1.3% in the 1st quarter. Albert D Mason Inc. now owns 9,641 shares of the industrial products company’s stock valued at $1,172,000 after buying an additional 127 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Tennant by 1.7% during the fourth quarter. Federated Hermes Inc. now owns 10,927 shares of the industrial products company’s stock worth $1,013,000 after purchasing an additional 180 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of Tennant by 1,272.2% in the first quarter. Global Retirement Partners LLC now owns 247 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 229 shares in the last quarter. Annex Advisory Services LLC raised its position in shares of Tennant by 5.7% during the first quarter. Annex Advisory Services LLC now owns 5,465 shares of the industrial products company’s stock worth $665,000 after purchasing an additional 297 shares during the period. Finally, YHB Investment Advisors Inc. bought a new position in shares of Tennant during the 1st quarter valued at about $36,000. Institutional investors and hedge funds own 93.33% of the company’s stock.

Tennant Stock Up 3.6 %

Tennant stock opened at $101.44 on Friday. The company has a current ratio of 2.15, a quick ratio of 1.46 and a debt-to-equity ratio of 0.34. Tennant has a 1-year low of $72.81 and a 1-year high of $124.11. The company has a fifty day simple moving average of $101.05 and a 200 day simple moving average of $104.05. The company has a market cap of $1.93 billion, a P/E ratio of 16.85 and a beta of 1.02.

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

Tennant Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Friday, May 31st. Tennant’s dividend payout ratio is 18.60%.

Analyst Ratings Changes

Separately, StockNews.com cut Tennant from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 27th.

About Tennant

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.