Tennant (NYSE:TNC) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its holdings in Tennant (NYSE:TNC) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,596 shares of the industrial products company’s stock after selling 158 shares during the period. Amalgamated Bank’s holdings in Tennant were worth $537,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. CWM LLC boosted its stake in shares of Tennant by 290.9% in the second quarter. CWM LLC now owns 387 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 288 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Tennant in the second quarter valued at $58,000. Point72 DIFC Ltd purchased a new position in shares of Tennant in the second quarter valued at $71,000. nVerses Capital LLC purchased a new position in shares of Tennant in the third quarter valued at $77,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Tennant in the first quarter valued at $86,000. Institutional investors and hedge funds own 93.33% of the company’s stock.

Tennant Price Performance

Shares of TNC stock opened at $86.23 on Friday. Tennant has a twelve month low of $82.54 and a twelve month high of $124.11. The company has a current ratio of 2.17, a quick ratio of 1.43 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $1.63 billion, a PE ratio of 15.21 and a beta of 1.00. The firm has a fifty day simple moving average of $91.58 and a 200-day simple moving average of $97.50.

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

Tennant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 1.37%. This is an increase from Tennant’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, November 29th. Tennant’s dividend payout ratio is 20.81%.

Analyst Upgrades and Downgrades

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 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.