Hsbc Holdings PLC Decreases Stock Holdings in Tennant (NYSE:TNC)

Hsbc Holdings PLC trimmed its holdings in Tennant (NYSE:TNC – Get Rating) by 7.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,052 shares of the industrial products company’s stock after selling 382 shares during the quarter. Hsbc Holdings PLC’s holdings in Tennant were worth $290,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Tennant by 1.3% during the 1st quarter. BlackRock Inc. now owns 2,842,661 shares of the industrial products company’s stock worth $224,001,000 after buying an additional 35,440 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Tennant by 0.4% during the 1st quarter. Clearbridge Investments LLC now owns 817,078 shares of the industrial products company’s stock worth $64,386,000 after buying an additional 2,885 shares during the last quarter. State Street Corp increased its holdings in shares of Tennant by 1.9% during the 2nd quarter. State Street Corp now owns 648,456 shares of the industrial products company’s stock worth $38,421,000 after buying an additional 12,018 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Tennant by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 572,162 shares of the industrial products company’s stock worth $32,361,000 after buying an additional 6,624 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Tennant by 2.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 496,707 shares of the industrial products company’s stock worth $29,430,000 after buying an additional 12,089 shares during the last quarter. 88.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TNC has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Tennant from a “buy” rating to a “strong-buy” rating in a report on Monday, February 27th. EF Hutton Acquisition Co. I reiterated a “buy” rating and issued a $98.00 target price on shares of Tennant in a report on Friday, February 24th.

Tennant Stock Down 0.4 %

Tennant stock opened at $70.35 on Thursday. Tennant has a fifty-two week low of $54.90 and a fifty-two week high of $85.33. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.41 and a current ratio of 2.20. The firm has a 50 day moving average price of $68.05 and a 200 day moving average price of $63.48. The company has a market capitalization of $1.30 billion, a PE ratio of 19.87 and a beta of 1.08.

Tennant (NYSE:TNC – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The industrial products company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.21 by $0.25. The business had revenue of $291.00 million during the quarter, compared to the consensus estimate of $291.20 million. Tennant had a net margin of 6.07% and a return on equity of 17.29%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Research analysts expect that Tennant will post 4.1 earnings per share for the current year.

Tennant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Friday, March 3rd will be paid a $0.265 dividend. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $1.06 annualized dividend and a dividend yield of 1.51%. Tennant’s dividend payout ratio (DPR) is 29.94%.

Tennant Profile

(Get Rating)

Tennant Co engages in the design, manufacture, and marketing of cleaning solutions. Its products include equipment for maintaining surfaces in industrial, commercial, and outdoor environments, detergent-free and other sustainable cleaning technologies, cleaning tools and supplies, and coatings for protecting, repairing and upgrading surfaces.