4,024 Shares in Tennant (NYSE:TNC) Acquired by Intech Investment Management LLC

Intech Investment Management LLC acquired a new stake in Tennant (NYSE:TNC) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,024 shares of the industrial products company’s stock, valued at approximately $386,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in Tennant by 1.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,960 shares of the industrial products company’s stock valued at $1,698,000 after purchasing an additional 186 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Tennant by 10.0% in the first quarter. Tidal Investments LLC now owns 2,379 shares of the industrial products company’s stock valued at $289,000 after purchasing an additional 216 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Tennant in the first quarter valued at approximately $86,000. CWM LLC lifted 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 acquiring an additional 288 shares during the period. Finally, Annex Advisory Services LLC raised its stake in shares of Tennant by 12.4% in the second quarter. Annex Advisory Services LLC now owns 6,140 shares of the industrial products company’s stock valued at $604,000 after buying an additional 675 shares during the period. 93.33% of the stock is owned by institutional investors and hedge funds.

Tennant Trading Down 0.6 %

Shares of TNC stock opened at $88.19 on Wednesday. Tennant has a 12-month low of $82.54 and a 12-month high of $124.11. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $90.50 and a two-hundred day moving average price of $95.64. The firm has a market cap of $1.66 billion, a P/E ratio of 15.55 and a beta of 1.00.

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

Tennant Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.295 dividend. This is an increase from Tennant’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.18 dividend on an annualized basis and a yield of 1.34%. Tennant’s dividend payout ratio is 20.81%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Tennant from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st.

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.