Assenagon Asset Management S.A. Grows Stake in Tennant (NYSE:TNC)

Assenagon Asset Management S.A. grew its holdings in shares of Tennant (NYSE:TNC) by 82.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 233,550 shares of the industrial products company’s stock after buying an additional 105,319 shares during the period. Assenagon Asset Management S.A.’s holdings in Tennant were worth $22,430,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TNC. Dorsey & Whitney Trust CO LLC raised its holdings in Tennant by 0.3% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 49,012 shares of the industrial products company’s stock worth $5,960,000 after purchasing an additional 133 shares in the last quarter. Arizona State Retirement System lifted its holdings in Tennant by 3.6% in the second quarter. Arizona State Retirement System now owns 5,053 shares of the industrial products company’s stock worth $497,000 after buying an additional 176 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Tennant by 1.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,960 shares of the industrial products company’s stock valued at $1,698,000 after acquiring an additional 186 shares in the last quarter. Swiss National Bank grew its holdings in shares of Tennant by 0.6% during the 1st quarter. Swiss National Bank now owns 35,000 shares of the industrial products company’s stock worth $4,256,000 after acquiring an additional 200 shares during the period. Finally, Texas Permanent School Fund Corp raised its position in shares of Tennant by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 16,349 shares of the industrial products company’s stock worth $1,988,000 after acquiring an additional 212 shares in the last quarter. Institutional investors own 93.33% of the company’s stock.

Tennant Trading Up 0.5 %

Shares of NYSE TNC opened at $90.56 on Friday. Tennant has a 1 year low of $72.90 and a 1 year high of $124.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.17 and a quick ratio of 1.46. The firm has a 50-day moving average of $93.53 and a 200 day moving average of $100.45. The stock has a market cap of $1.71 billion, a P/E ratio of 15.64 and a beta of 1.00.

Tennant (NYSE:TNC) last released its earnings results on Thursday, August 8th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.11. Tennant had a net margin of 8.76% and a return on equity of 22.23%. The firm had revenue of $331.00 million during the quarter, compared to analyst estimates of $327.00 million. During the same period last year, the business earned $1.86 earnings per share. The business’s revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Tennant will post 6.48 EPS for the current fiscal year.

Tennant Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Friday, August 30th. Tennant’s dividend payout ratio (DPR) is 19.34%.

Analyst Ratings Changes

Separately, StockNews.com raised 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.