Sei Investments Co. Purchases 2,478 Shares of Tennant (NYSE:TNC)

Sei Investments Co. grew its position in shares of Tennant (NYSE:TNC) by 6.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 43,602 shares of the industrial products company’s stock after buying an additional 2,478 shares during the period. Sei Investments Co.’s holdings in Tennant were worth $4,292,000 as of its most recent SEC filing.

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

Tennant Stock Down 2.3 %

Shares of NYSE:TNC opened at $93.82 on Wednesday. The business’s 50 day moving average is $96.29 and its 200 day moving average is $103.84. The company has a quick ratio of 1.46, a current ratio of 2.17 and a debt-to-equity ratio of 0.33. Tennant has a 12-month low of $72.81 and a 12-month high of $124.11. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 15.95 and a beta of 1.00.

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

Tennant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a $0.28 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.12 annualized dividend and a yield of 1.19%. Tennant’s dividend payout ratio is currently 18.60%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised 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.