Wealth Enhancement Advisory Services LLC Buys 938 Shares of Tennant Company $TNC

Wealth Enhancement Advisory Services LLC lifted its position in Tennant Company (NYSE:TNC) by 24.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,787 shares of the industrial products company’s stock after buying an additional 938 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Tennant were worth $392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of TNC. Brown Advisory Inc. lifted its holdings in Tennant by 3.4% in the first quarter. Brown Advisory Inc. now owns 568,138 shares of the industrial products company’s stock valued at $45,309,000 after acquiring an additional 18,537 shares during the period. Gamco Investors INC. ET AL increased its position in shares of Tennant by 0.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 474,650 shares of the industrial products company’s stock valued at $37,853,000 after purchasing an additional 1,600 shares during the last quarter. Invenomic Capital Management LP lifted its stake in shares of Tennant by 277.1% in the 1st quarter. Invenomic Capital Management LP now owns 279,800 shares of the industrial products company’s stock worth $22,314,000 after purchasing an additional 205,596 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Tennant by 7.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 279,234 shares of the industrial products company’s stock worth $22,269,000 after buying an additional 20,225 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Tennant by 44.3% in the first quarter. American Century Companies Inc. now owns 222,821 shares of the industrial products company’s stock worth $17,770,000 after buying an additional 68,453 shares during the last quarter. Institutional investors own 93.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on TNC shares. Zacks Research raised shares of Tennant to a “hold” rating in a report on Tuesday, August 12th. Wall Street Zen upgraded Tennant from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Tennant in a research report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Tennant presently has a consensus rating of “Hold” and an average price target of $125.00.

Tennant Stock Performance

TNC opened at $83.78 on Tuesday. 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 stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 1.80 and a beta of 1.06. The company has a fifty day moving average of $81.92 and a 200 day moving average of $78.03. Tennant Company has a fifty-two week low of $67.32 and a fifty-two week high of $95.29.

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). The company had revenue of $318.60 million for 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 firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the company earned $1.83 EPS. As a group, sell-side analysts forecast that Tennant Company will post 5.89 earnings per share for the current fiscal year.

Tennant Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, August 29th. Tennant’s dividend payout ratio (DPR) is currently 36.76%.

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.