Tennant Company $TNC Shares Sold by Invesco Ltd.

Invesco Ltd. reduced its stake in shares of Tennant Company (NYSE:TNC) by 31.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,272 shares of the industrial products company’s stock after selling 60,149 shares during the period. Invesco Ltd. owned approximately 0.71% of Tennant worth $10,628,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TNC. GAMMA Investing LLC lifted its stake in shares of Tennant by 429.0% during the first quarter. GAMMA Investing LLC now owns 492 shares of the industrial products company’s stock worth $39,000 after buying an additional 399 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Tennant by 194.8% during the first quarter. Farther Finance Advisors LLC now owns 619 shares of the industrial products company’s stock worth $50,000 after buying an additional 409 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Tennant by 120.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,100 shares of the industrial products company’s stock worth $90,000 after buying an additional 600 shares during the period. CWM LLC lifted its stake in shares of Tennant by 137.0% during the first 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 lifted its stake in shares of Tennant by 18.1% during the fourth 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. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Tennant to a “hold” rating in a research note on Tuesday, August 12th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $125.00.

Tennant Price Performance

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

Tennant (NYSE:TNC) last posted its quarterly earnings results 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 business had revenue of $318.60 million during the quarter, compared to analysts’ expectations of $327.20 million. During the same period in the previous year, the company posted $1.83 earnings per share. Tennant’s revenue for the quarter was down 3.7% compared to the same quarter last year. Research analysts expect that Tennant Company will post 5.89 EPS for the current year.

Tennant Dividend Announcement

The company 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 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%.

Tennant 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.