Amalgamated Bank Sells 158 Shares of Tennant (NYSE:TNC)

Amalgamated Bank trimmed its holdings in shares of Tennant (NYSE:TNC) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,596 shares of the industrial products company’s stock after selling 158 shares during the quarter. Amalgamated Bank’s holdings in Tennant were worth $537,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. CWM LLC grew its holdings in Tennant by 290.9% in the second quarter. CWM LLC now owns 387 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 288 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Tennant during the second quarter valued at $58,000. Point72 DIFC Ltd acquired a new position in Tennant during the second quarter valued at $71,000. nVerses Capital LLC acquired a new position in shares of Tennant in the third quarter worth about $77,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Tennant in the first quarter worth about $86,000. 93.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Tennant Stock Performance

Tennant stock opened at $86.23 on Friday. Tennant has a 1-year low of $82.54 and a 1-year high of $124.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.43. The firm has a 50 day simple moving average of $91.58 and a 200-day simple moving average of $97.50. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 15.21 and a beta of 1.00.

Tennant (NYSE:TNC) last issued 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). Tennant had a net margin of 8.52% and a return on equity of 21.50%. The business had revenue of $315.80 million during the quarter, compared to analysts’ expectations of $319.40 million. During the same period in the prior year, the business earned $1.34 EPS. The business’s quarterly revenue was up 3.6% on a year-over-year basis. On average, analysts expect that Tennant will post 6.43 EPS for the current year.

Tennant Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.37%. This is a positive change from Tennant’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, November 29th. Tennant’s payout ratio is 20.81%.

Tennant Company 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.