Tennant (NYSE:TNC) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. boosted its position in Tennant (NYSE:TNC) by 79.8% during the 2nd quarter, Holdings Channel reports. The fund owned 151,151 shares of the industrial products company’s stock after acquiring an additional 67,080 shares during the quarter. American Century Companies Inc.’s holdings in Tennant were worth $14,879,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. YHB Investment Advisors Inc. acquired a new stake in Tennant in the first quarter valued at approximately $36,000. CWM LLC raised its holdings in Tennant by 290.9% during the second quarter. CWM LLC now owns 387 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 288 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Tennant during the second quarter worth approximately $58,000. Quest Partners LLC acquired a new stake in Tennant during the fourth quarter worth approximately $64,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Tennant during the first quarter worth approximately $86,000. Institutional investors and hedge funds own 93.33% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Tennant from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 5th.

Tennant Stock Down 1.9 %

TNC stock opened at $92.08 on Friday. The company has a current ratio of 2.17, a quick ratio of 1.46 and a debt-to-equity ratio of 0.33. Tennant has a twelve month low of $72.81 and a twelve month high of $124.11. The company’s 50 day moving average is $97.66 and its two-hundred day moving average is $104.55. The stock has a market cap of $1.75 billion, a P/E ratio of 15.30 and a beta of 1.00.

Tennant (NYSE:TNC) last announced its earnings results on Thursday, August 8th. The industrial products company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.11. The business had revenue of $331.00 million for the quarter, compared to analysts’ expectations of $327.00 million. Tennant had a net margin of 8.76% and a return on equity of 22.23%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.86 EPS. Research analysts expect that Tennant will post 6.48 earnings per share for the current fiscal year.

Tennant Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.28 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.22%. Tennant’s payout ratio is 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.