Geode Capital Management LLC increased its stake in Tennant (NYSE:TNC) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,774 shares of the industrial products company’s stock after acquiring an additional 1,338 shares during the period. Geode Capital Management LLC owned approximately 0.82% of Tennant worth $10,663,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Magnetar Financial LLC bought a new position in shares of Tennant in the third quarter valued at approximately $204,000. SNS Financial Group LLC bought a new position in shares of Tennant in the fourth quarter valued at approximately $231,000. Cubist Systematic Strategies LLC bought a new position in shares of Tennant in the third quarter valued at approximately $221,000. Brown Advisory Inc. bought a new position in shares of Tennant in the fourth quarter valued at approximately $291,000. Finally, Front Row Advisors LLC bought a new position in shares of Tennant in the fourth quarter valued at approximately $423,000. Institutional investors and hedge funds own 91.05% of the company’s stock.
Several research firms have recently issued reports on TNC. Zacks Investment Research cut shares of Tennant from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Dougherty & Co upgraded shares of Tennant from a “neutral” rating to a “buy” rating in a report on Monday, February 26th.
Tennant stock opened at $68.25 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.79 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $1,220.38, a PE ratio of 44.32, a P/E/G ratio of 3.60 and a beta of 0.86. Tennant has a 12-month low of $59.00 and a 12-month high of $76.80.
Tennant (NYSE:TNC) last posted its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $279.30 million during the quarter, compared to the consensus estimate of $262.13 million. Tennant had a negative net margin of 0.62% and a positive return on equity of 9.68%. The company’s revenue was up 31.9% on a year-over-year basis. During the same quarter last year, the business earned $0.85 earnings per share. sell-side analysts anticipate that Tennant will post 1.89 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 28th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Tuesday, February 27th. Tennant’s payout ratio is 54.55%.
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Tennant Company Profile
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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