Quadrature Capital Ltd Decreases Position in Tennant (NYSE:TNC)

Quadrature Capital Ltd cut its stake in shares of Tennant (NYSE:TNC) by 38.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,093 shares of the industrial products company’s stock after selling 13,632 shares during the period. Quadrature Capital Ltd owned 0.12% of Tennant worth $2,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC grew its stake in shares of Tennant by 1,272.2% during the first quarter. Global Retirement Partners LLC now owns 247 shares of the industrial products company’s stock valued at $30,000 after buying an additional 229 shares during the last quarter. YHB Investment Advisors Inc. bought a new position in shares of Tennant during the first quarter valued at approximately $36,000. Quest Partners LLC bought a new position in shares of Tennant during the fourth quarter valued at approximately $64,000. Kingsview Wealth Management LLC bought a new position in Tennant in the first quarter worth approximately $204,000. Finally, Mackenzie Financial Corp bought a new position in Tennant in the fourth quarter worth approximately $231,000. 93.33% of the stock is currently owned by hedge funds and other institutional investors.

Tennant Trading Up 0.5 %

NYSE:TNC traded up $0.56 during midday trading on Friday, hitting $108.78. The stock had a trading volume of 85,050 shares, compared to its average volume of 101,079. The company has a quick ratio of 1.46, a current ratio of 2.15 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 18.07 and a beta of 1.02. The stock has a 50-day moving average of $101.13 and a 200 day moving average of $105.40. Tennant has a one year low of $72.81 and a one year high of $124.11.

Tennant (NYSE:TNC) last announced its earnings results on Friday, May 3rd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.36. Tennant had a return on equity of 23.16% and a net margin of 9.10%. The business had revenue of $311.00 million for the quarter, compared to analysts’ expectations of $314.10 million. As a group, sell-side analysts forecast that Tennant will post 6.56 EPS for the current year.

Tennant Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.12 annualized dividend and a dividend yield of 1.03%. Tennant’s dividend payout ratio is presently 18.60%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Tennant from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd.

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.