Tennant Company (NYSE:TNC) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in Tennant Company (NYSE:TNC) by 3.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,690 shares of the industrial products company’s stock after acquiring an additional 3,370 shares during the period. Principal Financial Group Inc. owned approximately 0.56% of Tennant worth $8,349,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TNC. GAMMA Investing LLC increased its stake in Tennant by 429.0% during the 1st quarter. GAMMA Investing LLC now owns 492 shares of the industrial products company’s stock valued at $39,000 after buying an additional 399 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Tennant by 68.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 52,244 shares of the industrial products company’s stock valued at $4,195,000 after buying an additional 21,164 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Tennant by 25.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,849 shares of the industrial products company’s stock valued at $307,000 after buying an additional 789 shares during the period. Amundi increased its stake in Tennant by 190.4% during the 4th quarter. Amundi now owns 9,666 shares of the industrial products company’s stock valued at $773,000 after buying an additional 6,338 shares during the period. Finally, Vanguard Group Inc. increased its stake in Tennant by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,394,271 shares of the industrial products company’s stock valued at $195,205,000 after buying an additional 12,422 shares during the period. Institutional investors and hedge funds own 93.33% of the company’s stock.

Tennant Stock Down 1.0%

Tennant stock opened at $82.79 on Tuesday. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 23.12 and a beta of 1.05. The company has a current ratio of 2.14, a quick ratio of 1.40 and a debt-to-equity ratio of 0.34. The company’s 50-day moving average price is $76.08 and its two-hundred day moving average price is $79.24. Tennant Company has a 52 week low of $67.32 and a 52 week high of $110.45.

Tennant (NYSE:TNC) last released its earnings results on Wednesday, April 30th. The industrial products company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.26). The company had revenue of $290.00 million for the quarter, compared to analyst estimates of $296.63 million. Tennant had a net margin of 5.40% and a return on equity of 17.76%. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.49 EPS. On average, analysts expect that Tennant Company will post 5.89 EPS for the current fiscal year.

Tennant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a dividend of $0.295 per share. The ex-dividend date was Friday, May 30th. This represents a $1.18 annualized dividend and a dividend yield of 1.43%. Tennant’s dividend payout ratio (DPR) is 32.96%.

About Tennant

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.