Franklin Resources Inc. Has $1.21 Million Stock Holdings in Tennant (NYSE:TNC)

Franklin Resources Inc. boosted its position in shares of Tennant (NYSE:TNC) by 1.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,908 shares of the industrial products company’s stock after purchasing an additional 169 shares during the quarter. Franklin Resources Inc.’s holdings in Tennant were worth $1,213,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TNC. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Tennant by 84.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 527 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 241 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Tennant during the 2nd quarter worth about $58,000. Point72 DIFC Ltd acquired a new stake in shares of Tennant in the 2nd quarter valued at about $71,000. nVerses Capital LLC bought a new stake in shares of Tennant in the third quarter valued at about $77,000. Finally, TD Private Client Wealth LLC grew its holdings in shares of Tennant by 43.7% during the third quarter. TD Private Client Wealth LLC now owns 839 shares of the industrial products company’s stock worth $81,000 after buying an additional 255 shares in the last quarter. Institutional investors own 93.33% of the company’s stock.

Tennant Stock Down 0.9 %

TNC stock opened at $80.78 on Friday. Tennant has a 1-year low of $79.25 and a 1-year high of $124.11. The business’s 50 day simple moving average is $86.75 and its 200 day simple moving average is $93.40. The company has a current ratio of 2.17, a quick ratio of 1.43 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.52 billion, a PE ratio of 14.25 and a beta of 1.00.

Tennant (NYSE:TNC) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.05). The company had revenue of $315.80 million for 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 company’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the business earned $1.34 earnings per share. As a group, research analysts anticipate that Tennant will post 6.43 EPS for the current year.

Tennant Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.295 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.18 dividend on an annualized basis and a yield of 1.46%. This is an increase from Tennant’s previous quarterly dividend of $0.28. Tennant’s dividend payout ratio is currently 20.81%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TNC shares. StockNews.com downgraded Tennant from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Northcoast Research started coverage on shares of Tennant in a research report on Thursday, December 19th. They issued a “buy” rating and a $125.00 target price for the company.

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.