Dimensional Fund Advisors LP Grows Stake in Tennant (NYSE:TNC)

Dimensional Fund Advisors LP increased its holdings in Tennant (NYSE:TNC - Free Report) by 1.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 597,181 shares of the industrial products company's stock after buying an additional 9,920 shares during the period. Dimensional Fund Advisors LP owned 3.16% of Tennant worth $48,688,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. raised its holdings in shares of Tennant by 7.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,983 shares of the industrial products company's stock valued at $162,000 after acquiring an additional 142 shares in the last quarter. Albert D Mason Inc. raised its stake in Tennant by 1.5% in the fourth quarter. Albert D Mason Inc. now owns 9,811 shares of the industrial products company's stock valued at $800,000 after purchasing an additional 145 shares in the last quarter. Franklin Resources Inc. lifted its position in Tennant by 1.3% during the third quarter. Franklin Resources Inc. now owns 12,908 shares of the industrial products company's stock valued at $1,213,000 after purchasing an additional 169 shares during the last quarter. Accredited Investors Inc. lifted its position in Tennant by 1.4% during the fourth quarter. Accredited Investors Inc. now owns 13,348 shares of the industrial products company's stock valued at $1,088,000 after purchasing an additional 186 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in Tennant by 5.7% in the 4th quarter. Bank of Montreal Can now owns 3,672 shares of the industrial products company's stock worth $299,000 after buying an additional 199 shares in the last quarter. Institutional investors own 93.33% of the company's stock.

Tennant Price Performance

Shares of Tennant stock opened at $71.51 on Friday. The firm has a market capitalization of $1.34 billion, a PE ratio of 16.33 and a beta of 0.97. The company has a current ratio of 1.97, a quick ratio of 1.43 and a debt-to-equity ratio of 0.32. Tennant has a 12 month low of $67.32 and a 12 month high of $111.56. The business's 50-day moving average price is $77.56 and its 200-day moving average price is $83.21.

Tennant (NYSE:TNC - Get Free Report) last posted its quarterly 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). Tennant had a return on equity of 19.98% and a net margin of 6.51%. The business had revenue of $290.00 million for the quarter, compared to analysts' expectations of $296.63 million. During the same period last year, the business posted $1.49 earnings per share. The company's revenue was down 6.8% compared to the same quarter last year. Sell-side analysts forecast that Tennant will post 5.89 EPS for the current fiscal year.

Tennant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.65%. Tennant's dividend payout ratio (DPR) is currently 26.94%.

Tennant declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 13th that permits the company to buyback 2,000,000 shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Tennant from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 27th.

Insider Transactions at Tennant

In other news, insider Richard H. Zay sold 7,053 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $87.58, for a total value of $617,701.74. Following the transaction, the insider now owns 25,770 shares in the company, valued at approximately $2,256,936.60. This trade represents a 21.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Barb Balinski sold 1,717 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $86.42, for a total transaction of $148,383.14. Following the sale, the senior vice president now owns 11,829 shares of the company's stock, valued at $1,022,262.18. This represents a 12.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.

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.

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