Tennant (NYSE:TNC) Stock Holdings Decreased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC reduced its position in Tennant (NYSE:TNC - Free Report) by 59.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,843 shares of the industrial products company's stock after selling 42,607 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.15% of Tennant worth $2,839,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TNC. CWM LLC raised its stake in Tennant by 290.9% during the second quarter. CWM LLC now owns 387 shares of the industrial products company's stock worth $38,000 after acquiring an additional 288 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Tennant during the 2nd quarter worth $58,000. DekaBank Deutsche Girozentrale acquired a new stake in Tennant in the first quarter worth $86,000. Point72 DIFC Ltd bought a new stake in Tennant in the second quarter valued at $71,000. Finally, Picton Mahoney Asset Management bought a new position in shares of Tennant during the second quarter worth about $112,000. Institutional investors and hedge funds own 93.33% of the company's stock.

Tennant Stock Performance

Shares of TNC traded up $0.25 during trading hours on Friday, reaching $93.24. 87,254 shares of the company's stock traded hands, compared to its average volume of 121,591. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 15.49 and a beta of 1.00. The business's fifty day simple moving average is $93.83 and its two-hundred day simple moving average is $102.48. Tennant has a twelve month low of $72.81 and a twelve month high of $124.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.17 and a quick ratio of 1.46.

Tennant (NYSE:TNC - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.11. The business had revenue of $331.00 million during the quarter, compared to analysts' expectations of $327.00 million. Tennant had a net margin of 8.76% and a return on equity of 22.23%. The business's revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $1.86 earnings per share. Analysts predict that Tennant will post 6.48 earnings per share for the current year.

Tennant Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Friday, August 30th. Tennant's payout ratio is 18.60%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Tennant from a "buy" rating to a "strong-buy" rating in a research note on Thursday, September 5th.

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.