Tennant (NYSE:TNC) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its position in Tennant (NYSE:TNC - Free Report) by 12.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 204,986 shares of the industrial products company's stock after selling 28,564 shares during the quarter. Assenagon Asset Management S.A. owned approximately 1.09% of Tennant worth $16,713,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Algert Global LLC raised its stake in Tennant by 16.3% in the third quarter. Algert Global LLC now owns 43,391 shares of the industrial products company's stock valued at $4,167,000 after buying an additional 6,085 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in Tennant in the third quarter valued at approximately $3,873,000. Jane Street Group LLC increased its stake in Tennant by 77.3% in the third quarter. Jane Street Group LLC now owns 30,527 shares of the industrial products company's stock valued at $2,932,000 after purchasing an additional 13,311 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Tennant by 1,900.0% during the second quarter. Renaissance Technologies LLC now owns 36,000 shares of the industrial products company's stock worth $3,544,000 after purchasing an additional 34,200 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Tennant by 1.4% during the third quarter. Geode Capital Management LLC now owns 436,933 shares of the industrial products company's stock worth $41,971,000 after buying an additional 5,862 shares during the period. Institutional investors and hedge funds own 93.33% of the company's stock.

Tennant Stock Up 0.6 %

Shares of NYSE:TNC traded up $0.54 during midday trading on Friday, hitting $85.07. 89,957 shares of the company's stock traded hands, compared to its average volume of 157,137. Tennant has a twelve month low of $78.57 and a twelve month high of $124.11. The company has a market cap of $1.61 billion, a PE ratio of 15.00 and a beta of 1.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 2.17. The firm's fifty day moving average price is $84.50 and its two-hundred day moving average price is $91.71.

Tennant (NYSE:TNC - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.05). Tennant had a return on equity of 21.50% and a net margin of 8.52%. The firm 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 business earned $1.34 earnings per share. The business's revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that Tennant will post 6.43 EPS for the current fiscal year.

Tennant Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.295 dividend. The ex-dividend date of this dividend was Friday, November 29th. This is a positive change from Tennant's previous quarterly dividend of $0.28. This represents a $1.18 annualized dividend and a yield of 1.39%. Tennant's dividend payout ratio (DPR) is currently 20.81%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TNC shares. StockNews.com cut Tennant from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 1st. Northcoast Research started coverage on shares of Tennant in a research report on Thursday, December 19th. They issued a "buy" rating and a $125.00 price objective for the company.

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.