Deutsche Bank AG Purchases 18,130 Shares of Tennant (NYSE:TNC)

Deutsche Bank AG increased its position in Tennant (NYSE:TNC) by 169.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,809 shares of the industrial products company’s stock after buying an additional 18,130 shares during the quarter. Deutsche Bank AG owned 0.15% of Tennant worth $2,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Barclays PLC lifted its position in Tennant by 222.8% in the third quarter. Barclays PLC now owns 40,151 shares of the industrial products company’s stock valued at $3,857,000 after purchasing an additional 27,712 shares during the last quarter. SG Americas Securities LLC bought a new stake in Tennant in the fourth quarter valued at approximately $246,000. Inspire Investing LLC lifted its position in Tennant by 13.4% in the fourth quarter. Inspire Investing LLC now owns 4,984 shares of the industrial products company’s stock valued at $406,000 after purchasing an additional 589 shares during the last quarter. Olstein Capital Management L.P. bought a new stake in Tennant in the fourth quarter valued at approximately $775,000. Finally, KBC Group NV lifted its position in Tennant by 69.5% in the fourth quarter. KBC Group NV now owns 961 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 394 shares during the last quarter. Institutional investors own 93.33% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Tennant from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th.

Insider Activity at Tennant

In related news, SVP Barb Balinski sold 1,717 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $86.42, for a total transaction of $148,383.14. Following the completion of the transaction, the senior vice president now owns 11,829 shares in the company, valued at $1,022,262.18. This represents a 12.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard H. Zay sold 7,053 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $87.58, for a total value of $617,701.74. Following the transaction, the insider now owns 25,770 shares of the company’s stock, valued at approximately $2,256,936.60. This represents a 21.49% decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Tennant Stock Performance

Shares of TNC stock opened at $73.26 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 1.97. Tennant has a fifty-two week low of $67.32 and a fifty-two week high of $110.45. The stock has a 50 day moving average price of $74.78 and a two-hundred day moving average price of $81.69. The company has a market capitalization of $1.37 billion, a P/E ratio of 16.73 and a beta of 1.07.

Tennant (NYSE:TNC) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.26). The business had revenue of $290.00 million for the quarter, compared to the consensus estimate of $296.63 million. Tennant had a net margin of 6.51% and a return on equity of 19.98%. Tennant’s revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.49 EPS. Analysts expect that Tennant will post 5.89 earnings per share for the current year.

Tennant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $0.295 per share. The ex-dividend date is Friday, May 30th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.61%. Tennant’s dividend payout ratio is presently 32.96%.

Tennant announced that its Board of Directors has authorized a stock buyback program on Thursday, February 13th that permits the company to repurchase 2,000,000 outstanding shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.