10,795 Shares in Tennant (NYSE:TNC) Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Tennant (NYSE:TNC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,795 shares of the industrial products company’s stock, valued at approximately $1,037,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.06% of Tennant as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TNC. Thrivent Financial for Lutherans increased its holdings in Tennant by 0.5% in the third quarter. Thrivent Financial for Lutherans now owns 684,156 shares of the industrial products company’s stock valued at $65,707,000 after buying an additional 3,164 shares in the last quarter. Aigen Investment Management LP purchased a new position in Tennant in the third quarter valued at about $244,000. Van ECK Associates Corp increased its holdings in Tennant by 2.1% in the third quarter. Van ECK Associates Corp now owns 31,978 shares of the industrial products company’s stock valued at $2,898,000 after buying an additional 652 shares in the last quarter. Creative Financial Designs Inc. ADV increased its holdings in Tennant by 14.6% in the third quarter. Creative Financial Designs Inc. ADV now owns 3,093 shares of the industrial products company’s stock valued at $297,000 after buying an additional 393 shares in the last quarter. Finally, Jacobson & Schmitt Advisors LLC increased its holdings in Tennant by 4.2% in the third quarter. Jacobson & Schmitt Advisors LLC now owns 110,840 shares of the industrial products company’s stock valued at $10,645,000 after buying an additional 4,472 shares in the last quarter. 93.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Tennant Trading Down 0.4 %

Shares of Tennant stock opened at $88.34 on Thursday. Tennant has a 12-month low of $82.54 and a 12-month high of $124.11. 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 stock has a market cap of $1.67 billion, a PE ratio of 15.58 and a beta of 1.00. The company has a 50-day moving average of $90.92 and a two-hundred day moving average of $96.19.

Tennant (NYSE:TNC) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.39 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.05). The business had revenue of $315.80 million during the quarter, compared to analyst estimates of $319.40 million. Tennant had a net margin of 8.52% and a return on equity of 21.50%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.34 earnings per share. On average, research analysts anticipate that Tennant will post 6.43 EPS for the current fiscal 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 given a $0.295 dividend. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from Tennant’s previous quarterly dividend of $0.28. This represents a $1.18 annualized dividend and a dividend yield of 1.34%. Tennant’s dividend payout ratio is currently 19.75%.

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.