Lightrock Netherlands B.V. Makes New Investment in Tennant (NYSE:TNC)

Lightrock Netherlands B.V. acquired a new stake in Tennant (NYSE:TNC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 60,500 shares of the industrial products company's stock, valued at approximately $4,957,000. Tennant makes up 1.7% of Lightrock Netherlands B.V.'s portfolio, making the stock its 28th largest holding. Lightrock Netherlands B.V. owned 0.32% of Tennant at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TNC. Point72 Asia Singapore Pte. Ltd. grew its holdings 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 valued at $51,000 after buying an additional 241 shares during the last quarter. nVerses Capital LLC acquired a new stake in Tennant in the 3rd quarter worth $77,000. KBC Group NV increased its stake in Tennant by 69.5% during the fourth quarter. KBC Group NV now owns 961 shares of the industrial products company's stock valued at $78,000 after acquiring an additional 394 shares during the period. TD Private Client Wealth LLC raised its stake in shares of Tennant by 43.7% in the third quarter. TD Private Client Wealth LLC now owns 839 shares of the industrial products company's stock valued at $81,000 after purchasing an additional 255 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of Tennant during the 4th quarter worth about $92,000. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Northcoast Research initiated coverage on Tennant in a research report on Thursday, December 19th. They issued a "buy" rating and a $125.00 price target on the stock. StockNews.com cut shares of Tennant from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 1st.

Tennant Trading Up 0.6 %

Shares of TNC stock traded up $0.53 on Tuesday, reaching $88.26. 150,168 shares of the stock were exchanged, compared to its average volume of 138,791. 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 one year low of $78.57 and a one year high of $124.11. The stock has a market cap of $1.67 billion, a PE ratio of 15.57 and a beta of 1.01. The stock has a 50 day moving average price of $83.82 and a 200 day moving average price of $89.69.

Tennant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 1.34%. Tennant's payout ratio is 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.