Zeke Capital Advisors LLC increased its position in shares of Tennant (NYSE:TNC) by 57.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,501 shares of the industrial products company’s stock after acquiring an additional 3,827 shares during the period. Zeke Capital Advisors LLC owned about 0.06% of Tennant worth $763,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of TNC. Quantbot Technologies LP lifted its stake in Tennant by 1,013.0% during the 3rd quarter. Quantbot Technologies LP now owns 2,226 shares of the industrial products company’s stock worth $147,000 after acquiring an additional 2,026 shares in the last quarter. Magnetar Financial LLC acquired a new position in Tennant during the 3rd quarter worth about $204,000. Cubist Systematic Strategies LLC acquired a new position in Tennant during the 3rd quarter worth about $221,000. SNS Financial Group LLC acquired a new position in Tennant during the 4th quarter worth about $231,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Tennant during the 3rd quarter worth about $242,000. 91.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Tennant (TNC) opened at $70.15 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.25 and a debt-to-equity ratio of 1.16. Tennant has a 1-year low of $59.00 and a 1-year high of $76.80. The firm has a market capitalization of $1,251.69, a PE ratio of 44.59, a price-to-earnings-growth ratio of 3.69 and a beta of 0.92.
Tennant (NYSE:TNC) last issued its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.01). Tennant had a positive return on equity of 9.68% and a negative net margin of 0.62%. The company had revenue of $279.30 million for the quarter, compared to analysts’ expectations of $262.13 million. During the same quarter last year, the company earned $0.85 EPS. Tennant’s revenue for the quarter was up 31.9% compared to the same quarter last year. equities analysts expect that Tennant will post 1.89 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $0.84 annualized dividend and a yield of 1.20%. Tennant’s dividend payout ratio (DPR) is -239.99%.
In other Tennant news, insider Thomas Paulson sold 6,694 shares of the company’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $72.90, for a total transaction of $487,992.60. Following the sale, the insider now owns 24,035 shares in the company, valued at approximately $1,752,151.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.70% of the stock is owned by corporate insiders.
Several research firms recently issued reports on TNC. Zacks Investment Research lowered Tennant from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Dougherty & Co raised Tennant from a “neutral” rating to a “buy” rating in a research note on Monday, February 26th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. Tennant presently has an average rating of “Hold” and a consensus price target of $65.00.
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Tennant Company is engaged in designing, manufacturing and marketing of cleaning solutions. The Company’s segments are Americas; Europe, Middle East, Africa, and Asia Pacific. The Company offers a range of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, specialty surface coatings and asset management solutions.
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