Royce & Associates LP Has $7.73 Million Holdings in Tennant (NYSE:TNC)

Royce & Associates LP decreased its position in Tennant (NYSE:TNC - Free Report) by 10.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,500 shares of the industrial products company's stock after selling 9,370 shares during the quarter. Royce & Associates LP owned about 0.43% of Tennant worth $7,731,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Arizona State Retirement System increased its holdings in shares of Tennant by 3.6% during the 2nd quarter. Arizona State Retirement System now owns 5,053 shares of the industrial products company's stock valued at $497,000 after acquiring an additional 176 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Tennant by 1.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,960 shares of the industrial products company's stock worth $1,698,000 after buying an additional 186 shares during the period. Swiss National Bank increased its position in shares of Tennant by 0.6% during the 1st quarter. Swiss National Bank now owns 35,000 shares of the industrial products company's stock worth $4,256,000 after purchasing an additional 200 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Tennant by 10.0% in the first quarter. Tidal Investments LLC now owns 2,379 shares of the industrial products company's stock valued at $289,000 after acquiring an additional 216 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its holdings in shares of Tennant by 0.5% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 49,251 shares of the industrial products company's stock worth $4,848,000 after purchasing an additional 239 shares during the last quarter. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Tennant Stock Down 0.1 %

TNC stock traded down $0.09 during midday trading on Monday, hitting $86.14. The company's stock had a trading volume of 84,474 shares, compared to its average volume of 118,396. The company's fifty day moving average price is $91.58 and its 200 day moving average price is $97.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.43. Tennant has a twelve month low of $82.54 and a twelve month high of $124.11. The stock has a market capitalization of $1.63 billion, a P/E ratio of 15.21 and a beta of 1.00.

Tennant (NYSE:TNC - Get Free Report) last issued 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). The company had revenue of $315.80 million for the quarter, compared to analyst estimates of $319.40 million. Tennant had a net margin of 8.52% and a return on equity of 21.50%. The business's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the company posted $1.34 earnings per share. As a group, equities research analysts predict that Tennant will post 6.43 EPS for the current year.

Tennant Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Friday, November 29th. This is an increase from Tennant's previous quarterly dividend of $0.28. Tennant's payout ratio is 19.75%.

Analysts Set New Price Targets

Separately, StockNews.com cut Tennant from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 1st.

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.