Janus Henderson Group PLC Increases Position in Tennant (NYSE:TNC)

Janus Henderson Group PLC lifted its position in shares of Tennant (NYSE:TNC) by 4.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 25,975 shares of the industrial products company’s stock after buying an additional 1,008 shares during the period. Janus Henderson Group PLC owned 0.14% of Tennant worth $2,494,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TNC. Thrivent Financial for Lutherans increased its stake in shares of Tennant by 0.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 684,156 shares of the industrial products company’s stock valued at $65,707,000 after acquiring an additional 3,164 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Tennant by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 253,119 shares of the industrial products company’s stock valued at $24,310,000 after acquiring an additional 3,975 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Tennant by 82.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 233,550 shares of the industrial products company’s stock valued at $22,430,000 after acquiring an additional 105,319 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Tennant by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 193,384 shares of the industrial products company’s stock valued at $19,037,000 after acquiring an additional 4,128 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Tennant by 79.8% during 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 during the last quarter. 93.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Tennant Trading Down 1.1 %

Shares of TNC stock opened at $84.01 on Friday. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 14.82 and a beta of 1.00. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. Tennant has a fifty-two week low of $82.54 and a fifty-two week high of $124.11. The firm’s 50 day moving average price is $89.26 and its two-hundred day moving average price is $94.89.

Tennant (NYSE:TNC) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.39 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.05). The business had revenue of $315.80 million for the quarter, compared to analyst estimates of $319.40 million. Tennant had a net margin of 8.52% and a return on equity of 21.50%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $1.34 earnings per share. On average, analysts anticipate that Tennant will post 6.43 EPS for the current year.

Tennant Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.40%. This is a positive change from Tennant’s previous quarterly dividend of $0.28. Tennant’s dividend payout ratio (DPR) 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.