Semanteon Capital Management LP Takes $964,000 Position in Tennant (NYSE:TNC)

Semanteon Capital Management LP bought a new position in shares of Tennant (NYSE:TNC - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,038 shares of the industrial products company's stock, valued at approximately $964,000. Semanteon Capital Management LP owned 0.05% of Tennant at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TNC. Wellington Management Group LLP lifted its position in Tennant by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 15,430 shares of the industrial products company's stock worth $1,430,000 after buying an additional 783 shares during the period. Vanguard Group Inc. grew its stake in shares of Tennant by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 2,250,515 shares of the industrial products company's stock valued at $208,600,000 after buying an additional 24,019 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Tennant in the first quarter valued at about $283,000. Principal Financial Group Inc. grew its stake in Tennant by 3.3% during the 1st quarter. Principal Financial Group Inc. now owns 103,979 shares of the industrial products company's stock valued at $12,645,000 after purchasing an additional 3,284 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in Tennant by 70.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,818 shares of the industrial products company's stock valued at $586,000 after purchasing an additional 1,987 shares in the last quarter. 93.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Tennant Stock Performance

Shares of NYSE TNC traded down $0.09 during mid-day trading on Monday, hitting $90.46. The company had a trading volume of 52,684 shares, compared to its average volume of 118,099. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 15.64 and a beta of 1.00. Tennant has a 12 month low of $73.82 and a 12 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. The firm's 50 day simple moving average is $93.53 and its two-hundred day simple moving average is $100.17.

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

Tennant Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.24%. The ex-dividend date was Friday, August 30th. Tennant's payout ratio is currently 19.34%.

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.