Olstein Capital Management L.P. Makes New $775,000 Investment in Tennant (NYSE:TNC)

Olstein Capital Management L.P. bought a new position in Tennant (NYSE:TNC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,500 shares of the industrial products company's stock, valued at approximately $775,000. Olstein Capital Management L.P. owned about 0.05% of Tennant as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Inspire Investing LLC raised its position in shares of Tennant by 13.4% in the fourth quarter. Inspire Investing LLC now owns 4,984 shares of the industrial products company's stock valued at $406,000 after purchasing an additional 589 shares during the period. SG Americas Securities LLC bought a new position in Tennant in the 4th quarter worth $246,000. Value Holdings Management CO. LLC acquired a new position in Tennant during the 4th quarter worth $815,000. Albert D Mason Inc. lifted its position in Tennant by 1.5% during the 4th quarter. Albert D Mason Inc. now owns 9,811 shares of the industrial products company's stock worth $800,000 after acquiring an additional 145 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Tennant by 93.1% during the third quarter. JPMorgan Chase & Co. now owns 48,647 shares of the industrial products company's stock valued at $4,672,000 after acquiring an additional 23,460 shares during the period. Institutional investors own 93.33% of the company's stock.

Analysts Set New Price Targets

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

Tennant Stock Performance

Tennant stock traded up $0.09 during mid-day trading on Friday, reaching $86.48. The company had a trading volume of 95,053 shares, compared to its average volume of 114,956. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 15.25 and a beta of 1.01. The company has a 50 day moving average of $84.29 and a 200-day moving average of $91.25. Tennant has a 52 week low of $78.57 and a 52 week high of $124.11.

Tennant (NYSE:TNC - Get Free Report) last released its earnings results on Thursday, October 31st. The industrial products company reported $1.39 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.05). Tennant had a net margin of 8.52% and a return on equity of 21.50%. The company had revenue of $315.80 million during the quarter, compared to the consensus estimate of $319.40 million. During the same quarter in the previous year, the business posted $1.34 EPS. The firm's quarterly revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts expect 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. Investors of record on Friday, November 29th were paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.36%. This is a positive change from Tennant's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, November 29th. Tennant's dividend payout ratio is presently 20.81%.

Tennant 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.