The Manufacturers Life Insurance Company grew its position in shares of Tennant (NYSE:TNC – Free Report) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,451 shares of the industrial products company’s stock after purchasing an additional 702 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Tennant were worth $1,029,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its stake in shares of Tennant by 577.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 128,231 shares of the industrial products company’s stock valued at $12,623,000 after acquiring an additional 109,298 shares in the last quarter. Jacobson & Schmitt Advisors LLC bought a new stake in shares of Tennant in the 1st quarter valued at $12,380,000. American Century Companies Inc. increased its stake in shares of Tennant by 79.8% in the 2nd quarter. American Century Companies Inc. now owns 151,151 shares of the industrial products company’s stock valued at $14,879,000 after acquiring an additional 67,080 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Tennant by 174.1% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 70,700 shares of the industrial products company’s stock valued at $8,598,000 after acquiring an additional 44,907 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Tennant by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 2,291,226 shares of the industrial products company’s stock valued at $278,636,000 after acquiring an additional 40,711 shares in the last quarter. Institutional investors own 93.33% of the company’s stock.
Tennant Stock Performance
NYSE TNC opened at $93.24 on Friday. The company has a fifty day simple moving average of $93.83 and a 200 day simple moving average of $102.48. Tennant has a 12-month low of $72.81 and a 12-month high of $124.11. The company has a current ratio of 2.17, a quick ratio of 1.46 and a debt-to-equity ratio of 0.33. The company has a market cap of $1.76 billion, a P/E ratio of 16.10 and a beta of 1.00.
Tennant Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Friday, August 30th. Tennant’s dividend payout ratio is 19.34%.
Analyst Upgrades and Downgrades
Separately, StockNews.com upgraded shares of Tennant from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 5th.
Read Our Latest Stock Analysis on Tennant
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.
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