Tennant (NYSE:TNC) Shares Bought by Cwm LLC

Cwm LLC grew its holdings in shares of Tennant (NYSE:TNC) by 290.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 387 shares of the industrial products company’s stock after purchasing an additional 288 shares during the period. Cwm LLC’s holdings in Tennant were worth $38,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Albert D Mason Inc. increased its stake in Tennant by 1.3% during the 1st quarter. Albert D Mason Inc. now owns 9,641 shares of the industrial products company’s stock valued at $1,172,000 after buying an additional 127 shares during the period. Dorsey & Whitney Trust CO LLC increased its stake in shares of Tennant by 0.3% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 49,012 shares of the industrial products company’s stock valued at $5,960,000 after acquiring an additional 133 shares during the period. Federated Hermes Inc. raised its holdings in Tennant by 1.7% during the fourth quarter. Federated Hermes Inc. now owns 10,927 shares of the industrial products company’s stock worth $1,013,000 after purchasing an additional 180 shares in the last quarter. Price T Rowe Associates Inc. MD lifted 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 worth $1,698,000 after purchasing an additional 186 shares during the period. Finally, Swiss National Bank boosted its stake in Tennant by 0.6% during the 1st quarter. Swiss National Bank now owns 35,000 shares of the industrial products company’s stock valued at $4,256,000 after purchasing an additional 200 shares in the last quarter. 93.33% of the stock is currently owned by institutional investors.

Tennant Stock Up 1.5 %

NYSE TNC opened at $94.36 on Thursday. Tennant has a 12 month low of $72.81 and a 12 month high of $124.11. The company has a market capitalization of $1.78 billion, a P/E ratio of 15.67 and a beta of 1.02. The company’s 50 day simple moving average is $99.53 and its 200 day simple moving average is $106.02. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.17 and a quick ratio of 1.46.

Tennant (NYSE:TNC) last posted its quarterly earnings results on Thursday, August 8th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.11. The company had revenue of $331.00 million for the quarter, compared to analysts’ expectations of $327.00 million. Tennant had a return on equity of 22.23% and a net margin of 8.76%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.86 earnings per share. Equities research analysts expect that Tennant will post 6.48 earnings per share for the current fiscal year.

Tennant Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.19%. Tennant’s dividend payout ratio is currently 18.60%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Tennant from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 17th.

Tennant Company 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.