Daiwa Securities Group Inc. Has $596,000 Stock Position in Tennant (NYSE:TNC)

Daiwa Securities Group Inc. lifted its position in shares of Tennant (NYSE:TNC) by 25.6% in the second quarter, HoldingsChannel reports. The fund owned 6,053 shares of the industrial products company’s stock after buying an additional 1,235 shares during the period. Daiwa Securities Group Inc.’s holdings in Tennant were worth $596,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. YHB Investment Advisors Inc. bought a new stake in shares of Tennant during the 1st quarter valued at $36,000. CWM LLC grew its stake in shares of Tennant by 290.9% during the second quarter. CWM LLC now owns 387 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 288 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Tennant in the second quarter valued at about $58,000. Quest Partners LLC bought a new stake in Tennant in the fourth quarter valued at about $64,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Tennant in the first quarter valued at about $86,000. Institutional investors and hedge funds own 93.33% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Tennant from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 5th.

Tennant Stock Up 0.5 %

Shares of Tennant stock opened at $92.93 on Tuesday. The firm has a market cap of $1.77 billion, a PE ratio of 15.44 and a beta of 1.00. The business’s 50 day simple moving average is $98.14 and its 200 day simple moving average is $104.97. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.46 and a current ratio of 2.17. Tennant has a 52-week low of $72.81 and a 52-week high of $124.11.

Tennant (NYSE:TNC) last posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.11. Tennant had a net margin of 8.76% and a return on equity of 22.23%. The company had revenue of $331.00 million during the quarter, compared to the consensus estimate of $327.00 million. During the same period in the prior year, the business posted $1.86 EPS. The company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, analysts predict that Tennant will post 6.48 earnings per share for the current fiscal year.

Tennant Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, August 30th. This represents a $1.12 dividend on an annualized basis and a yield of 1.21%. Tennant’s payout ratio is 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.