Van ECK Associates Corp raised its position in shares of Tennant (NYSE:TNC - Free Report) by 21.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,895 shares of the industrial products company's stock after acquiring an additional 6,917 shares during the quarter. Van ECK Associates Corp owned about 0.21% of Tennant worth $3,171,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. boosted its position in Tennant by 84.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 527 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 241 shares during the last quarter. TD Private Client Wealth LLC boosted its position in shares of Tennant by 43.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 839 shares of the industrial products company's stock worth $81,000 after purchasing an additional 255 shares in the last quarter. KBC Group NV boosted its position in shares of Tennant by 69.5% during the 4th quarter. KBC Group NV now owns 961 shares of the industrial products company's stock worth $78,000 after purchasing an additional 394 shares in the last quarter. R Squared Ltd bought a new position in shares of Tennant during the 4th quarter worth about $92,000. Finally, Millburn Ridgefield Corp boosted its position in shares of Tennant by 453.4% during the 3rd quarter. Millburn Ridgefield Corp now owns 1,212 shares of the industrial products company's stock worth $116,000 after purchasing an additional 993 shares in the last quarter. Institutional investors own 93.33% of the company's stock.
Tennant Stock Down 2.5 %
Shares of TNC stock traded down $2.21 on Friday, reaching $86.96. 319,016 shares of the company were exchanged, compared to its average volume of 179,442. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.97 and a quick ratio of 1.43. Tennant has a one year low of $78.57 and a one year high of $124.11. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 19.85 and a beta of 1.01. The company has a 50-day moving average of $84.11 and a 200-day moving average of $88.92.
Tennant (NYSE:TNC - Get Free Report) last posted its earnings results on Monday, February 17th. The industrial products company reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.13. Tennant had a net margin of 6.51% and a return on equity of 19.98%. The company had revenue of $328.90 million for the quarter, compared to analyst estimates of $324.00 million. Analysts anticipate that Tennant will post 5.95 earnings per share for the current year.
Tennant announced that its board has authorized a share buyback program on Thursday, February 13th that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.
Tennant Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.295 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.36%. Tennant's dividend payout ratio is presently 26.94%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the stock. Northcoast Research assumed coverage on shares of Tennant in a research report on Thursday, December 19th. They set a "buy" rating and a $125.00 price objective on the stock. StockNews.com raised shares of Tennant from a "buy" rating to a "strong-buy" rating in a research report on Wednesday.
Check Out Our Latest Report on TNC
About Tennant
(
Free Report)
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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