10,000 Shares in Tennant (NYSE:TNC) Bought by Value Holdings Management CO. LLC

Value Holdings Management CO. LLC purchased a new position in Tennant (NYSE:TNC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,000 shares of the industrial products company’s stock, valued at approximately $815,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TNC. Algert Global LLC grew its holdings in shares of Tennant by 16.3% in the third quarter. Algert Global LLC now owns 43,391 shares of the industrial products company’s stock worth $4,167,000 after acquiring an additional 6,085 shares during the period. Eagle Asset Management Inc. purchased a new stake in Tennant in the 3rd quarter worth approximately $3,873,000. Jane Street Group LLC increased its holdings in Tennant by 77.3% in the 3rd quarter. Jane Street Group LLC now owns 30,527 shares of the industrial products company’s stock worth $2,932,000 after acquiring an additional 13,311 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Tennant by 1,900.0% in the 2nd quarter. Renaissance Technologies LLC now owns 36,000 shares of the industrial products company’s stock worth $3,544,000 after acquiring an additional 34,200 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Tennant by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 436,933 shares of the industrial products company’s stock valued at $41,971,000 after buying an additional 5,862 shares in the last quarter. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Tennant Trading Up 0.6 %

NYSE TNC traded up $0.54 on Friday, hitting $85.07. 89,957 shares of the stock were exchanged, compared to its average volume of 157,137. 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 fifty day moving average price of $84.50 and a two-hundred day moving average price of $91.76. The firm has a market capitalization of $1.61 billion, a P/E ratio of 15.00 and a beta of 1.01. Tennant has a 52-week low of $78.57 and a 52-week high of $124.11.

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

Tennant Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a dividend of $0.295 per share. 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 dividend yield of 1.39%. The ex-dividend date was Friday, November 29th. Tennant’s payout ratio is currently 20.81%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com lowered shares of Tennant from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Northcoast Research assumed coverage on shares of Tennant in a research report on Thursday, December 19th. They issued a “buy” rating and a $125.00 price target on the stock.

About Tennant

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.