Jacobson & Schmitt Advisors LLC Purchases 16,934 Shares of Tennant (NYSE:TNC)

Jacobson & Schmitt Advisors LLC grew its holdings in Tennant (NYSE:TNC - Free Report) by 15.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 127,774 shares of the industrial products company's stock after buying an additional 16,934 shares during the quarter. Tennant makes up 2.0% of Jacobson & Schmitt Advisors LLC's portfolio, making the stock its 26th largest position. Jacobson & Schmitt Advisors LLC owned 0.68% of Tennant worth $10,417,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TNC. Albert D Mason Inc. boosted its holdings in Tennant by 1.5% in the fourth quarter. Albert D Mason Inc. now owns 9,811 shares of the industrial products company's stock valued at $800,000 after acquiring an additional 145 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Tennant by 1.3% in the 3rd quarter. Franklin Resources Inc. now owns 12,908 shares of the industrial products company's stock valued at $1,213,000 after purchasing an additional 169 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Tennant by 0.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 43,451 shares of the industrial products company's stock valued at $4,173,000 after purchasing an additional 239 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Tennant by 84.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 527 shares of the industrial products company's stock worth $51,000 after buying an additional 241 shares during the period. Finally, TD Private Client Wealth LLC raised its stake in shares of Tennant by 43.7% during the third quarter. TD Private Client Wealth LLC now owns 839 shares of the industrial products company's stock worth $81,000 after buying an additional 255 shares during the last quarter. 93.33% of the stock is owned by institutional investors.

Tennant Stock Down 1.9 %

Shares of NYSE TNC traded down $1.73 during mid-day trading on Friday, reaching $87.43. 150,704 shares of the company's stock were exchanged, compared to its average volume of 174,147. Tennant has a twelve month low of $78.57 and a twelve month high of $124.11. The company has a current ratio of 1.97, a quick ratio of 1.43 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 19.98 and a beta of 1.01. The business has a fifty day simple moving average of $84.11 and a 200 day simple moving average of $88.92.

Tennant (NYSE:TNC - Get Free Report) last announced its earnings results on Monday, February 17th. The industrial products company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.39 by $0.13. Tennant had a net margin of 6.51% and a return on equity of 19.98%. The firm had revenue of $328.90 million for the quarter, compared to the consensus estimate of $324.00 million. As a group, equities analysts expect that Tennant will post 5.95 EPS for the current fiscal year.

Tennant Dividend Announcement

The company also recently declared 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 dividend yield of 1.35%. The ex-dividend date is Friday, February 28th. Tennant's dividend payout ratio is 26.94%.

Tennant declared that its board has authorized a stock repurchase program on Thursday, February 13th that permits the company to buyback 2,000,000 shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Northcoast Research initiated coverage on shares of Tennant in a report on Thursday, December 19th. They set a "buy" rating and a $125.00 target price for the company. StockNews.com upgraded Tennant from a "buy" rating to a "strong-buy" rating in a research report on Wednesday.

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.