Riverwater Partners LLC Buys New Position in Tennant (NYSE:TNC)

Riverwater Partners LLC acquired a new position in shares of Tennant (NYSE:TNC - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 19,171 shares of the industrial products company's stock, valued at approximately $1,792,000. Riverwater Partners LLC owned approximately 0.10% of Tennant at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TNC. Assenagon Asset Management S.A. boosted its stake in Tennant by 577.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 128,231 shares of the industrial products company's stock valued at $12,623,000 after acquiring an additional 109,298 shares during the last quarter. Jacobson & Schmitt Advisors LLC acquired a new position in Tennant in the first quarter worth about $12,380,000. American Century Companies Inc. raised its stake in Tennant by 79.8% during the second quarter. American Century Companies Inc. now owns 151,151 shares of the industrial products company's stock valued at $14,879,000 after buying an additional 67,080 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Tennant by 174.1% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 70,700 shares of the industrial products company's stock worth $8,598,000 after buying an additional 44,907 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Tennant by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 2,291,226 shares of the industrial products company's stock worth $278,636,000 after acquiring an additional 40,711 shares in the last quarter. Hedge funds and other institutional investors own 93.33% of the company's stock.

Tennant Stock Performance

TNC traded down $0.47 on Thursday, hitting $90.17. 74,882 shares of the company's stock were exchanged, compared to its average volume of 118,752. The company has a current ratio of 2.17, a quick ratio of 1.46 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average of $93.60 and a two-hundred day moving average of $100.66. Tennant has a twelve month low of $72.81 and a twelve month high of $124.11. The firm has a market cap of $1.70 billion, a PE ratio of 15.57 and a beta of 1.00.

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

Tennant Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $0.28 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.24%. Tennant's dividend payout ratio (DPR) is presently 19.34%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Tennant from a "buy" rating to a "strong-buy" rating in a research report 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.