Rhumbline Advisers increased its holdings in Tennant (NYSE:TNC) by 15.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,788 shares of the industrial products company’s stock after buying an additional 5,919 shares during the period. Rhumbline Advisers owned 0.25% of Tennant worth $3,181,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in TNC. Quantbot Technologies LP raised its position in shares of Tennant by 1,013.0% in the third quarter. Quantbot Technologies LP now owns 2,226 shares of the industrial products company’s stock valued at $147,000 after buying an additional 2,026 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Tennant in the third quarter valued at approximately $204,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Tennant in the third quarter valued at approximately $221,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Tennant in the third quarter valued at approximately $242,000. Finally, Front Row Advisors LLC acquired a new stake in shares of Tennant in the fourth quarter valued at approximately $423,000. Institutional investors own 91.05% of the company’s stock.
A number of research firms have recently weighed in on TNC. Zacks Investment Research downgraded shares of Tennant from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Dougherty & Co upgraded shares of Tennant from a “neutral” rating to a “buy” rating in a research report on Monday, February 26th.
TNC traded down $2.15 during trading on Friday, hitting $68.25. 143,748 shares of the stock traded hands, compared to its average volume of 107,746. Tennant has a twelve month low of $59.00 and a twelve month high of $76.80. The company has a market cap of $1,258.85, a P/E ratio of 44.84, a P/E/G ratio of 3.72 and a beta of 0.86. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.79 and a quick ratio of 1.25.
Tennant (NYSE:TNC) last announced its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). Tennant had a negative net margin of 0.62% and a positive return on equity of 9.68%. The firm had revenue of $279.30 million for the quarter, compared to analyst estimates of $262.13 million. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The firm’s revenue for the quarter was up 31.9% on a year-over-year basis. analysts expect that Tennant will post 1.89 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.21 per share. The ex-dividend date was Tuesday, February 27th. This represents a $0.84 annualized dividend and a yield of 1.23%. Tennant’s dividend payout ratio is currently 54.55%.
In other Tennant news, insider Thomas Paulson sold 6,694 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $72.90, for a total transaction of $487,992.60. Following the completion of the transaction, the insider now directly owns 24,035 shares in the company, valued at $1,752,151.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.60% of the stock is owned by insiders.
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Tennant Company designs, manufactures, and markets floor cleaning equipment. It offers a suite of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, specialty surface coatings, and asset management solutions.
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