Credit Suisse AG Raises Stake in Tennant (NYSE:TNC)

Credit Suisse AG grew its position in Tennant (NYSE:TNCFree Report) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,037 shares of the industrial products company’s stock after purchasing an additional 1,890 shares during the quarter. Credit Suisse AG owned approximately 0.18% of Tennant worth $2,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TNC. BlackRock Inc. boosted its holdings in Tennant by 1.3% in 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 period. Clearbridge Investments LLC raised its stake in Tennant by 0.8% during the 4th quarter. Clearbridge Investments LLC now owns 828,100 shares of the industrial products company’s stock valued at $50,986,000 after purchasing an additional 6,867 shares during the period. State Street Corp lifted its holdings in Tennant by 0.4% in the 3rd quarter. State Street Corp now owns 650,795 shares of the industrial products company’s stock worth $36,809,000 after purchasing an additional 2,339 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Tennant by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 574,543 shares of the industrial products company’s stock worth $35,374,000 after purchasing an additional 2,381 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Tennant by 4.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 553,985 shares of the industrial products company’s stock worth $34,108,000 after purchasing an additional 24,609 shares during the period. 91.14% of the stock is owned by hedge funds and other institutional investors.

Tennant Trading Up 1.2 %

TNC stock opened at $83.44 on Monday. The firm has a fifty day moving average price of $81.11 and a 200 day moving average price of $75.48. Tennant has a fifty-two week low of $56.04 and a fifty-two week high of $87.53. The firm has a market cap of $1.55 billion, a PE ratio of 16.43 and a beta of 1.10. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.52 and a current ratio of 2.29.

Tennant (NYSE:TNCGet Free Report) last issued its quarterly earnings data on Friday, August 4th. The industrial products company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.70. The business had revenue of $321.70 million during the quarter, compared to analysts’ expectations of $291.67 million. Tennant had a net margin of 8.04% and a return on equity of 22.49%. The business’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the company posted $0.92 EPS. Sell-side analysts anticipate that Tennant will post 5.43 earnings per share for the current fiscal year.

Tennant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a $0.265 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $1.06 dividend on an annualized basis and a yield of 1.27%. Tennant’s dividend payout ratio is presently 20.87%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Tennant in a report on Thursday, August 17th. They issued a “strong-buy” rating on the stock.

Get Our Latest Report on TNC

Insiders Place Their Bets

In other news, insider Richard H. Zay sold 5,559 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $85.79, for a total value of $476,906.61. Following the sale, the insider now owns 11,095 shares of the company’s stock, valued at $951,840.05. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Steven Alan Sonnenberg sold 1,765 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $83.24, for a total transaction of $146,918.60. Following the completion of the sale, the director now directly owns 22,994 shares of the company’s stock, valued at approximately $1,914,020.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard H. Zay sold 5,559 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $85.79, for a total value of $476,906.61. Following the completion of the transaction, the insider now directly owns 11,095 shares in the company, valued at approximately $951,840.05. The disclosure for this sale can be found here. Insiders sold 11,923 shares of company stock valued at $1,009,359 over the last three months. 2.60% of the stock is owned by company insiders.

Tennant Company Profile

(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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Institutional Ownership by Quarter for Tennant (NYSE:TNC)

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