Deutsche Bank AG Has $2.22 Million Stock Position in Tennant Company $TNC

Deutsche Bank AG decreased its stake in shares of Tennant Company (NYSE:TNC) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,838 shares of the industrial products company’s stock after selling 971 shares during the period. Deutsche Bank AG owned 0.15% of Tennant worth $2,220,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its position in Tennant by 668.9% during the 4th quarter. Sterling Capital Management LLC now owns 346 shares of the industrial products company’s stock worth $28,000 after buying an additional 301 shares in the last quarter. GAMMA Investing LLC lifted its position in Tennant by 429.0% during the 1st quarter. GAMMA Investing LLC now owns 492 shares of the industrial products company’s stock worth $39,000 after buying an additional 399 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Tennant by 194.8% during the 1st quarter. Farther Finance Advisors LLC now owns 619 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 409 shares during the period. Canada Pension Plan Investment Board lifted its position in Tennant by 120.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,100 shares of the industrial products company’s stock valued at $90,000 after purchasing an additional 600 shares during the period. Finally, CWM LLC lifted its position in Tennant by 137.0% during the 1st quarter. CWM LLC now owns 1,519 shares of the industrial products company’s stock valued at $121,000 after purchasing an additional 878 shares during the period. Institutional investors and hedge funds own 93.33% of the company’s stock.

Tennant Stock Performance

Tennant stock opened at $81.4950 on Thursday. The company has a current ratio of 2.09, a quick ratio of 1.38 and a debt-to-equity ratio of 0.33. The company has a market cap of $1.51 billion, a PE ratio of 25.39, a PEG ratio of 1.81 and a beta of 1.06. The company’s 50-day moving average is $80.35 and its two-hundred day moving average is $78.99. Tennant Company has a 1 year low of $67.32 and a 1 year high of $98.52.

Tennant (NYSE:TNC) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.14). The company had revenue of $318.60 million during the quarter, compared to the consensus estimate of $327.20 million. Tennant had a net margin of 4.84% and a return on equity of 16.41%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same period last year, the company earned $1.83 earnings per share. Equities analysts anticipate that Tennant Company will post 5.89 earnings per share for the current year.

Tennant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.295 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.4%. Tennant’s dividend payout ratio is 36.76%.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Tennant to a “hold” rating in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $125.00.

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.