Tennant (NYSE:TNC) Position Lessened by Diversified Trust Co

Diversified Trust Co decreased its stake in Tennant (NYSE:TNCFree Report) by 21.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,743 shares of the industrial products company’s stock after selling 757 shares during the period. Diversified Trust Co’s holdings in Tennant were worth $334,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Tennant by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 2,250,515 shares of the industrial products company’s stock worth $208,600,000 after purchasing an additional 24,019 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Tennant by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 612,032 shares of the industrial products company’s stock worth $56,729,000 after purchasing an additional 14,008 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Tennant by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 231,059 shares of the industrial products company’s stock worth $21,417,000 after purchasing an additional 4,102 shares during the last quarter. Norges Bank bought a new stake in shares of Tennant in the 4th quarter worth approximately $12,193,000. Finally, Invesco Ltd. increased its position in Tennant by 57.8% in the 3rd quarter. Invesco Ltd. now owns 115,739 shares of the industrial products company’s stock valued at $8,582,000 after acquiring an additional 42,407 shares during the period. Institutional investors own 93.33% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Tennant from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 27th.

Read Our Latest Analysis on Tennant

Tennant Stock Down 0.1 %

TNC opened at $98.54 on Friday. Tennant has a 12 month low of $72.81 and a 12 month high of $124.11. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.15 and a quick ratio of 1.46. The stock has a market cap of $1.87 billion, a P/E ratio of 16.37 and a beta of 1.02. The stock’s 50 day moving average price is $102.77 and its 200 day moving average price is $103.81.

Tennant (NYSE:TNCGet Free Report) last posted its earnings results on Friday, May 3rd. The industrial products company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.45 by $0.36. Tennant had a return on equity of 23.16% and a net margin of 9.10%. The firm had revenue of $311.00 million for the quarter, compared to analysts’ expectations of $314.10 million. As a group, research analysts predict that Tennant will post 6.56 earnings per share for the current year.

Tennant Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Friday, May 31st. Tennant’s dividend payout ratio (DPR) is presently 18.60%.

About Tennant

(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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