Tennant (NYSE:TNC) Position Raised by Cerity Partners LLC

Cerity Partners LLC grew its position in shares of Tennant (NYSE:TNC) by 21.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 90,173 shares of the industrial products company’s stock after acquiring an additional 15,722 shares during the quarter. Cerity Partners LLC’s holdings in Tennant were worth $8,660,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Tennant by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 2,291,226 shares of the industrial products company’s stock valued at $278,636,000 after purchasing an additional 40,711 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Tennant by 21.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 21,076 shares of the industrial products company’s stock worth $2,561,000 after purchasing an additional 3,776 shares during the period. Price T Rowe Associates Inc. MD grew its position in Tennant by 1.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,960 shares of the industrial products company’s stock valued at $1,698,000 after buying an additional 186 shares in the last quarter. Tidal Investments LLC increased its stake in Tennant by 10.0% during the 1st quarter. Tidal Investments LLC now owns 2,379 shares of the industrial products company’s stock valued at $289,000 after buying an additional 216 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Tennant in the 1st quarter worth approximately $86,000. Institutional investors own 93.33% of the company’s stock.

Tennant Price Performance

NYSE:TNC opened at $88.73 on Wednesday. Tennant has a 52-week low of $82.54 and a 52-week high of $124.11. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The business’s 50-day moving average price is $91.01 and its 200 day moving average price is $96.24. The firm has a market cap of $1.67 billion, a P/E ratio of 15.65 and a beta of 1.00.

Tennant (NYSE:TNC) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.39 earnings per share 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 company had revenue of $315.80 million for the quarter, compared to the consensus estimate of $319.40 million. During the same period in the prior year, the business earned $1.34 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts predict that Tennant will post 6.43 earnings per share for the current fiscal year.

Tennant Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.295 dividend. This is an increase from Tennant’s previous quarterly dividend of $0.28. This represents a $1.18 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, November 29th. Tennant’s dividend payout ratio (DPR) is 19.75%.

Analyst Upgrades and Downgrades

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

Tennant Company 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.