Tennant (NYSE:TNC - Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $79.09 and last traded at $79.09, with a volume of 840 shares traded. The stock had previously closed at $80.32.
Analyst Ratings Changes
Several research firms have recently commented on TNC. Northcoast Research initiated coverage on shares of Tennant in a research note on Thursday, December 19th. They issued a "buy" rating and a $125.00 price objective for the company. StockNews.com downgraded shares of Tennant from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 1st.
View Our Latest Analysis on Tennant
Tennant Trading Down 0.3 %
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 has a market cap of $1.51 billion, a PE ratio of 14.12 and a beta of 1.01. The company has a fifty day simple moving average of $85.46 and a two-hundred day simple moving average of $92.55.
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 analysts' consensus estimates 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 analysts' expectations of $319.40 million. During the same quarter in the previous year, the company posted $1.34 earnings per share. The firm's quarterly revenue was up 3.6% on a year-over-year basis. Analysts anticipate that Tennant will post 6.43 EPS for the current year.
Tennant Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.295 per share. This is a boost from Tennant's previous quarterly dividend of $0.28. This represents a $1.18 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Friday, November 29th. Tennant's payout ratio is 20.81%.
Hedge Funds Weigh In On Tennant
Several large investors have recently bought and sold shares of TNC. JPMorgan Chase & Co. boosted its position in shares of Tennant by 93.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 48,647 shares of the industrial products company's stock worth $4,672,000 after acquiring an additional 23,460 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Tennant by 1.3% in the third quarter. Franklin Resources Inc. now owns 12,908 shares of the industrial products company's stock valued at $1,213,000 after purchasing an additional 169 shares in the last quarter. TD Private Client Wealth LLC increased its stake in Tennant by 43.7% in the third quarter. TD Private Client Wealth LLC now owns 839 shares of the industrial products company's stock valued at $81,000 after purchasing an additional 255 shares during the last quarter. Geode Capital Management LLC increased its stake in Tennant by 1.4% in the third quarter. Geode Capital Management LLC now owns 436,933 shares of the industrial products company's stock valued at $41,971,000 after purchasing an additional 5,862 shares during the last quarter. Finally, Barclays PLC raised its holdings in Tennant by 222.8% during the third quarter. Barclays PLC now owns 40,151 shares of the industrial products company's stock worth $3,857,000 after purchasing an additional 27,712 shares in the last quarter. Hedge funds and other institutional investors own 93.33% of the company's stock.
Tennant Company Profile
(
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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.
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