Tennant (NYSE:TNC) Stake Trimmed by Centiva Capital LP

Centiva Capital LP lowered its stake in Tennant (NYSE:TNC) by 10.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,152 shares of the industrial products company’s stock after selling 351 shares during the quarter. Centiva Capital LP’s holdings in Tennant were worth $303,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Arizona State Retirement System increased its stake in Tennant by 3.6% in the 2nd quarter. Arizona State Retirement System now owns 5,053 shares of the industrial products company’s stock worth $497,000 after purchasing an additional 176 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in Tennant by 0.5% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 49,251 shares of the industrial products company’s stock worth $4,848,000 after purchasing an additional 239 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Tennant by 0.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 43,451 shares of the industrial products company’s stock worth $4,173,000 after purchasing an additional 239 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in Tennant by 84.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 527 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 241 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in Tennant by 37.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 972 shares of the industrial products company’s stock valued at $95,000 after acquiring an additional 263 shares in the last quarter. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut Tennant from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st.

Tennant Trading Up 0.3 %

NYSE:TNC opened at $85.73 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.43. Tennant has a fifty-two week low of $82.54 and a fifty-two week high of $124.11. The stock’s 50-day moving average is $89.57 and its two-hundred day moving average is $95.04. The stock has a market cap of $1.62 billion, a PE ratio of 15.12 and a beta of 1.00.

Tennant (NYSE:TNC) last released its earnings results on Thursday, October 31st. The industrial products company reported $1.39 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.05). The business had revenue of $315.80 million for the quarter, compared to analysts’ expectations of $319.40 million. Tennant had a net margin of 8.52% and a return on equity of 21.50%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $1.34 EPS. As a group, equities research analysts forecast that Tennant will post 6.43 earnings per share for the current fiscal year.

Tennant Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 1.38%. This is a positive change from Tennant’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, November 29th. Tennant’s payout ratio is currently 20.81%.

Tennant Company 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.