Cerity Partners LLC Acquires 15,722 Shares of Tennant (NYSE:TNC)

Cerity Partners LLC raised its holdings in shares of Tennant (NYSE:TNC - Free Report) by 21.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,173 shares of the industrial products company's stock after buying an additional 15,722 shares during the period. Cerity Partners LLC owned about 0.48% of Tennant worth $8,660,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. CWM LLC grew its position in shares of Tennant by 290.9% during the 2nd quarter. CWM LLC now owns 387 shares of the industrial products company's stock valued at $38,000 after acquiring an additional 288 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Tennant during the second quarter valued at about $58,000. Point72 DIFC Ltd purchased a new stake in Tennant in the second quarter worth about $71,000. nVerses Capital LLC bought a new position in shares of Tennant in the third quarter worth about $77,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Tennant during the 1st quarter valued at about $86,000. 93.33% of the stock is currently owned by institutional investors.

Tennant Trading Down 2.7 %

Shares of Tennant stock opened at $88.73 on Wednesday. Tennant has a fifty-two week low of $82.54 and a fifty-two week high of $124.11. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 2.17. The company has a market capitalization of $1.67 billion, a P/E ratio of 15.65 and a beta of 1.00. The company has a fifty day moving average of $91.01 and a 200 day moving average of $96.24.

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 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 business had revenue of $315.80 million during the quarter, compared to the consensus estimate of $319.40 million. During the same period last year, the company earned $1.34 EPS. The business's revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that Tennant will post 6.43 earnings per share for the current fiscal year.

Tennant Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.295 dividend. This is an increase from Tennant's previous quarterly dividend of $0.28. This represents a $1.18 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Friday, November 29th. Tennant's payout ratio is currently 19.75%.

Analyst Upgrades and Downgrades

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

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.