Tennant (NYSE:TNC) Shares Bought by Inspire Investing LLC

Inspire Investing LLC grew its holdings in Tennant (NYSE:TNC) by 19.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,395 shares of the industrial products company’s stock after buying an additional 720 shares during the period. Inspire Investing LLC’s holdings in Tennant were worth $422,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TNC. Virtu Financial LLC acquired a new position in Tennant in the 4th quarter valued at about $237,000. Wellington Management Group LLP increased its holdings in shares of Tennant by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 15,430 shares of the industrial products company’s stock valued at $1,430,000 after purchasing an additional 783 shares during the period. Vanguard Group Inc. increased its holdings in shares of Tennant by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 2,250,515 shares of the industrial products company’s stock valued at $208,600,000 after purchasing an additional 24,019 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Tennant by 6.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 20,616 shares of the industrial products company’s stock worth $1,911,000 after purchasing an additional 1,216 shares during the last quarter. Finally, Annex Advisory Services LLC lifted its holdings in shares of Tennant by 5.7% during the first quarter. Annex Advisory Services LLC now owns 5,465 shares of the industrial products company’s stock worth $665,000 after purchasing an additional 297 shares during the period. Institutional investors and hedge funds own 93.33% of the company’s stock.

Tennant Price Performance

Shares of TNC opened at $93.33 on Wednesday. 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 stock’s 50 day moving average is $93.74 and its two-hundred day moving average is $101.83. Tennant has a twelve month low of $72.81 and a twelve month high of $124.11. The firm has a market capitalization of $1.77 billion, a PE ratio of 15.50 and a beta of 1.00.

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

Tennant Announces Dividend

The business 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 was Friday, August 30th. Tennant’s dividend payout ratio (DPR) is 18.60%.

Analysts Set New Price Targets

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

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.