Millburn Ridgefield Corp Has $116,000 Holdings in Tennant (NYSE:TNC)

Millburn Ridgefield Corp increased its stake in shares of Tennant (NYSE:TNC) by 453.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,212 shares of the industrial products company’s stock after acquiring an additional 993 shares during the quarter. Millburn Ridgefield Corp’s holdings in Tennant were worth $116,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of TNC. CWM LLC boosted its stake in shares of Tennant by 290.9% in the 2nd quarter. CWM LLC now owns 387 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 288 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in Tennant by 84.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 527 shares of the industrial products company’s stock valued at $51,000 after buying an additional 241 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Tennant during the second quarter worth about $58,000. Point72 DIFC Ltd acquired a new stake in shares of Tennant during the second quarter worth approximately $71,000. Finally, nVerses Capital LLC acquired a new position in shares of Tennant in the 3rd quarter worth approximately $77,000. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Tennant Price Performance

Shares of TNC stock opened at $88.19 on Wednesday. Tennant has a 52-week low of $82.54 and a 52-week high of $124.11. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 2.17. The stock has a market cap of $1.66 billion, a PE ratio of 15.55 and a beta of 1.00. The firm’s 50 day moving average price is $90.50 and its two-hundred day moving average price is $95.64.

Tennant (NYSE:TNC) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.05). The firm had revenue of $315.80 million for the quarter, compared to analyst estimates of $319.40 million. Tennant had a net margin of 8.52% and a return on equity of 21.50%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.34 EPS. As a group, analysts forecast that Tennant will post 6.43 EPS for the current year.

Tennant Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.295 dividend. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from Tennant’s previous quarterly dividend of $0.28. This represents a $1.18 dividend on an annualized basis and a yield of 1.34%. Tennant’s dividend payout ratio is presently 20.81%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Tennant from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st.

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.