Tennant (NYSE:TNC) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lowered its position in Tennant (NYSE:TNC - Free Report) by 38.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,673 shares of the industrial products company's stock after selling 6,761 shares during the period. BNP Paribas Financial Markets owned approximately 0.06% of Tennant worth $1,025,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. CWM LLC boosted its position in Tennant by 290.9% in the 2nd quarter. CWM LLC now owns 387 shares of the industrial products company's stock worth $38,000 after purchasing an additional 288 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Tennant in the 2nd quarter worth approximately $58,000. Point72 DIFC Ltd purchased a new stake in Tennant in the 2nd quarter worth approximately $71,000. nVerses Capital LLC purchased a new stake in Tennant in the 3rd quarter worth approximately $77,000. Finally, DekaBank Deutsche Girozentrale boosted its position in Tennant by 37.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 972 shares of the industrial products company's stock worth $95,000 after purchasing an additional 263 shares in the last quarter. Hedge funds and other institutional investors own 93.33% of the company's stock.

Analyst Upgrades and Downgrades

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

Tennant Price Performance

TNC stock traded down $0.74 during mid-day trading on Wednesday, reaching $84.94. The company's stock had a trading volume of 163,872 shares, compared to its average volume of 122,688. The company has a current ratio of 2.17, a quick ratio of 1.43 and a debt-to-equity ratio of 0.32. The company's 50 day moving average is $89.40 and its two-hundred day moving average is $94.97. Tennant has a fifty-two week low of $82.54 and a fifty-two week high of $124.11. The stock has a market cap of $1.60 billion, a PE ratio of 14.98 and a beta of 1.00.

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