Tennant (NYSE:TNC) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP boosted its holdings in Tennant (NYSE:TNC) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,430 shares of the industrial products company’s stock after buying an additional 783 shares during the quarter. Wellington Management Group LLP owned 0.08% of Tennant worth $1,430,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Tennant during the 4th quarter worth $12,193,000. Allianz Asset Management GmbH acquired a new position in shares of Tennant in the 4th quarter valued at $4,930,000. Invesco Ltd. increased its stake in Tennant by 57.8% in the 3rd quarter. Invesco Ltd. now owns 115,739 shares of the industrial products company’s stock worth $8,582,000 after purchasing an additional 42,407 shares in the last quarter. Tudor Investment Corp Et Al raised its holdings in Tennant by 539.4% during the 3rd quarter. Tudor Investment Corp Et Al now owns 46,734 shares of the industrial products company’s stock worth $3,465,000 after buying an additional 39,425 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Tennant by 930.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 37,159 shares of the industrial products company’s stock valued at $3,444,000 after buying an additional 33,552 shares in the last quarter. Institutional investors own 93.33% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Tennant from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 27th.

Tennant Stock Performance

Shares of Tennant stock opened at $97.77 on Tuesday. Tennant has a 12 month low of $72.81 and a 12 month high of $124.11. 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 stock has a market cap of $1.86 billion, a PE ratio of 16.24 and a beta of 1.02. The business has a fifty day simple moving average of $103.89 and a 200-day simple moving average of $103.82.

Tennant (NYSE:TNC) last announced its quarterly earnings data on Friday, May 3rd. The industrial products company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.36. The firm had revenue of $311.00 million during the quarter, compared to analyst estimates of $314.10 million. Tennant had a return on equity of 23.16% and a net margin of 9.10%. On average, sell-side analysts anticipate that Tennant will post 6.56 EPS for the current fiscal year.

Tennant Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.12 annualized dividend and a yield of 1.15%. Tennant’s dividend payout ratio is presently 18.60%.

Tennant 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.