Tennant (NYSE:TNC) Stock Holdings Lifted by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its position in Tennant (NYSE:TNC) by 10.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,265 shares of the industrial products company’s stock after acquiring an additional 500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Tennant were worth $506,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Inspire Investing LLC boosted its position in shares of Tennant by 141.5% in the first quarter. Inspire Investing LLC now owns 10,277 shares of the industrial products company’s stock worth $1,250,000 after buying an additional 6,021 shares during the period. Vanguard Group Inc. boosted its position in Tennant by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 2,291,226 shares of the industrial products company’s stock worth $278,636,000 after acquiring an additional 40,711 shares during the period. Victory Capital Management Inc. grew its stake in Tennant by 98.0% during the 2nd quarter. Victory Capital Management Inc. now owns 22,290 shares of the industrial products company’s stock valued at $2,194,000 after acquiring an additional 11,034 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Tennant by 129.3% in the 2nd quarter. TD Asset Management Inc now owns 13,300 shares of the industrial products company’s stock valued at $1,309,000 after purchasing an additional 7,500 shares during the period. Finally, Acadian Asset Management LLC lifted its position in shares of Tennant by 6.8% in the first quarter. Acadian Asset Management LLC now owns 104,572 shares of the industrial products company’s stock worth $12,712,000 after purchasing an additional 6,644 shares in the last quarter. Institutional investors and hedge funds own 93.33% of the company’s stock.

Tennant Price Performance

TNC opened at $93.24 on Monday. The company has a current ratio of 2.17, a quick ratio of 1.46 and a debt-to-equity ratio of 0.33. Tennant has a 1 year low of $72.81 and a 1 year high of $124.11. The stock has a fifty day moving average price of $93.83 and a 200 day moving average price of $102.36. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 16.10 and a beta of 1.00.

Tennant (NYSE:TNC) last announced its quarterly earnings results on Thursday, August 8th. The industrial products company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.72 by $0.11. The business had revenue of $331.00 million during the quarter, compared to analysts’ expectations of $327.00 million. Tennant had a return on equity of 22.23% and a net margin of 8.76%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.86 EPS. Analysts forecast that Tennant will post 6.48 EPS for the current fiscal year.

Tennant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, August 30th. Tennant’s payout ratio is presently 19.34%.

Analyst Upgrades and Downgrades

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

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.