Tennant (NYSE:TNC) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in shares of Tennant (NYSE:TNC - Free Report) by 93.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,647 shares of the industrial products company's stock after purchasing an additional 23,460 shares during the period. JPMorgan Chase & Co. owned 0.26% of Tennant worth $4,672,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its stake in Tennant by 82.1% during the third quarter. Assenagon Asset Management S.A. now owns 233,550 shares of the industrial products company's stock valued at $22,430,000 after purchasing an additional 105,319 shares in the last quarter. American Century Companies Inc. increased its position in shares of Tennant by 79.8% during the 2nd quarter. American Century Companies Inc. now owns 151,151 shares of the industrial products company's stock valued at $14,879,000 after purchasing an additional 67,080 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in Tennant during the 3rd quarter valued at $3,873,000. Renaissance Technologies LLC boosted its stake 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 buying an additional 34,200 shares during the period. Finally, Barclays PLC lifted its holdings in Tennant by 222.8% during the 3rd quarter. Barclays PLC now owns 40,151 shares of the industrial products company's stock valued at $3,857,000 after buying an additional 27,712 shares in the last quarter. Hedge funds and other institutional investors own 93.33% of the company's stock.

Tennant Stock Up 0.6 %

NYSE:TNC traded up $0.54 during trading hours on Friday, reaching $85.07. The company's stock had a trading volume of 89,957 shares, compared to its average volume of 157,137. The stock has a 50 day moving average price of $84.50 and a two-hundred day moving average price of $91.76. 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 company has a market capitalization of $1.61 billion, a P/E ratio of 15.00 and a beta of 1.01. Tennant has a 12 month low of $78.57 and a 12 month high of $124.11.

Tennant (NYSE:TNC - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.39 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 company had revenue of $315.80 million during the quarter, compared to the consensus estimate of $319.40 million. During the same period in the previous year, the firm posted $1.34 earnings per share. The company's revenue was up 3.6% on a year-over-year basis. Equities analysts predict that Tennant will post 6.43 EPS for the current fiscal year.

Tennant Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have commented on TNC shares. StockNews.com downgraded shares of Tennant from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 1st. Northcoast Research started coverage on shares of Tennant in a report on Thursday, December 19th. They set a "buy" rating and a $125.00 target price on the stock.

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.