American Century Companies Inc. Raises Position in Tennant Company $TNC

American Century Companies Inc. grew its holdings in shares of Tennant Company (NYSE:TNC) by 44.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 222,821 shares of the industrial products company’s stock after purchasing an additional 68,453 shares during the quarter. American Century Companies Inc. owned approximately 1.19% of Tennant worth $17,770,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of 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 purchasing an additional 399 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Tennant by 194.8% during the 1st quarter. Farther Finance Advisors LLC now owns 619 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 409 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of 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 worth $90,000 after purchasing an additional 600 shares during the period. CWM LLC raised its position in shares of Tennant by 137.0% in the 1st quarter. CWM LLC now owns 1,519 shares of the industrial products company’s stock worth $121,000 after buying an additional 878 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Tennant by 18.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,060 shares of the industrial products company’s stock worth $249,000 after buying an additional 469 shares during the period. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Tennant Trading Up 3.8%

NYSE:TNC opened at $83.7640 on Monday. The business’s 50-day moving average is $80.64 and its two-hundred day moving average is $78.87. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.09 and a quick ratio of 1.38. Tennant Company has a 12 month low of $67.32 and a 12 month high of $98.52. The firm has a market capitalization of $1.55 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 1.82 and a beta of 1.06.

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

Tennant Announces Dividend

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

Analysts Set New Price Targets

Separately, Zacks Research raised 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. According to MarketBeat.com, the stock presently 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.