Sei Investments Co. Boosts Holdings in Tennant Company $TNC

Sei Investments Co. raised its position in Tennant Company (NYSE:TNC) by 67.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,879 shares of the industrial products company’s stock after purchasing an additional 38,996 shares during the period. Sei Investments Co.’s holdings in Tennant were worth $6,433,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TNC. Hantz Financial Services Inc. boosted its stake in Tennant by 85.1% during the fourth quarter. Hantz Financial Services Inc. now owns 385 shares of the industrial products company’s stock valued at $28,000 after buying an additional 177 shares during the period. UMB Bank n.a. increased its stake in Tennant by 1,778.6% in the 4th quarter. UMB Bank n.a. now owns 526 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 498 shares during the last quarter. State of Wyoming purchased a new stake in shares of Tennant in the 2nd quarter valued at about $73,000. BNP Paribas Financial Markets raised its holdings in shares of Tennant by 25.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,936 shares of the industrial products company’s stock valued at $150,000 after acquiring an additional 389 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Tennant by 40.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,492 shares of the industrial products company’s stock valued at $193,000 after acquiring an additional 722 shares during the last quarter. Institutional investors own 93.33% of the company’s stock.

Tennant Stock Performance

NYSE:TNC opened at $86.00 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.41 and a current ratio of 2.12. Tennant Company has a fifty-two week low of $60.17 and a fifty-two week high of $91.93. The firm has a market cap of $1.47 billion, a PE ratio of 51.81, a price-to-earnings-growth ratio of 2.34 and a beta of 1.13. The business has a 50 day moving average price of $86.77 and a 200-day moving average price of $79.44.

Tennant (NYSE:TNC) last posted its quarterly earnings results on Monday, May 4th. The industrial products company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.18. The company had revenue of $297.90 million during the quarter, compared to analyst estimates of $289.25 million. Tennant had a net margin of 2.55% and a return on equity of 14.87%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.12 EPS. Equities research analysts predict that Tennant Company will post 5.12 earnings per share for the current year.

Tennant declared that its Board of Directors has approved a stock repurchase plan on Monday, May 4th that permits the company to buyback 2,000,000,000,000 shares. This buyback authorization permits the industrial products company to purchase up to 11.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TNC shares. Zacks Research upgraded shares of Tennant from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 26th. Wall Street Zen upgraded Tennant from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Weiss Ratings raised Tennant from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Tennant has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

Tennant Company Profile

Tennant Company is a global provider of solutions that help keep facilities clean, safe and sustainable. The company designs, manufactures and markets a broad range of cleaning machines, chemicals and service programs that address the cleaning needs of customers in diverse industries, including manufacturing, warehousing, food and beverage, healthcare and education. Tennant’s product portfolio encompasses both ride-on and walk-behind floor scrubbers and sweepers, carpet extractors, power brushes, pressure washers and autonomous cleaning machines.

Founded in 1870 and headquartered in Minneapolis, Minnesota, Tennant has grown from a regional manufacturer into a multinational organization with operations in more than 70 countries and sales representation in over 100 markets worldwide.