SFE Investment Counsel Decreases Stock Position in Tennant (NYSE:TNC)

SFE Investment Counsel decreased its position in shares of Tennant (NYSE:TNC) by 9.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,077 shares of the industrial products company’s stock after selling 1,747 shares during the period. SFE Investment Counsel’s holdings in Tennant were worth $1,392,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Inspire Investing LLC increased its position in shares of Tennant by 19.6% during the third quarter. Inspire Investing LLC now owns 4,395 shares of the industrial products company’s stock worth $422,000 after acquiring an additional 720 shares during the last quarter. nVerses Capital LLC acquired a new stake in Tennant during the 3rd quarter valued at approximately $77,000. Prentiss Smith & Co. Inc. increased its holdings in Tennant by 5.3% during the 3rd quarter. Prentiss Smith & Co. Inc. now owns 39,615 shares of the industrial products company’s stock worth $3,805,000 after purchasing an additional 1,983 shares during the last quarter. Riverwater Partners LLC acquired a new position in shares of Tennant in the 3rd quarter valued at approximately $1,792,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Tennant by 82.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 233,550 shares of the industrial products company’s stock valued at $22,430,000 after buying an additional 105,319 shares during the last quarter. Institutional investors and hedge funds own 93.33% of the company’s stock.

Tennant Trading Down 1.2 %

NYSE:TNC opened at $87.25 on Thursday. The company has a market cap of $1.65 billion, a PE ratio of 15.39 and a beta of 1.01. The business’s 50 day moving average is $83.82 and its two-hundred day moving average is $89.55. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. Tennant has a 52 week low of $78.57 and a 52 week high of $124.11.

Tennant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, February 28th. Tennant’s dividend payout ratio (DPR) is presently 20.81%.

Analyst Ratings Changes

A number of brokerages recently issued reports on TNC. Northcoast Research assumed coverage on shares of Tennant in a research note on Thursday, December 19th. They issued a “buy” rating and a $125.00 price target for the company. StockNews.com downgraded shares of 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.