Algert Global LLC Has $4.17 Million Holdings in Tennant (NYSE:TNC)

Algert Global LLC grew its holdings in shares of Tennant (NYSE:TNC) by 16.3% in the 3rd quarter, Holdings Channel reports. The fund owned 43,391 shares of the industrial products company’s stock after buying an additional 6,085 shares during the period. Algert Global LLC’s holdings in Tennant were worth $4,167,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake 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 increased its stake in shares of Tennant by 21.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 21,076 shares of the industrial products company’s stock valued at $2,561,000 after buying an additional 3,776 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Tennant by 1.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,960 shares of the industrial products company’s stock worth $1,698,000 after buying an additional 186 shares during the period. Tidal Investments LLC raised its stake in shares of Tennant by 10.0% during the first quarter. Tidal Investments LLC now owns 2,379 shares of the industrial products company’s stock valued at $289,000 after acquiring an additional 216 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Tennant during the first quarter worth $86,000. Institutional investors own 93.33% of the company’s stock.

Tennant Price Performance

Shares of TNC opened at $89.69 on Monday. The firm has a market cap of $1.69 billion, a PE ratio of 15.82 and a beta of 1.00. Tennant has a 52-week low of $82.54 and a 52-week high of $124.11. The business’s 50 day moving average price is $91.17 and its two-hundred day moving average price is $96.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 2.17.

Tennant (NYSE:TNC) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.05). The firm 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 company’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the business posted $1.34 EPS. On average, equities analysts anticipate that Tennant will post 6.43 EPS for the current year.

Tennant Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.18 annualized dividend and a dividend yield of 1.32%. This is a boost from Tennant’s previous quarterly dividend of $0.28. Tennant’s dividend payout ratio (DPR) is currently 19.75%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut 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.