Tennant (NYSE:TNC) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its stake in shares of Tennant (NYSE:TNC - Free Report) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 597,181 shares of the industrial products company's stock after acquiring an additional 9,920 shares during the quarter. Dimensional Fund Advisors LP owned 3.16% of Tennant worth $48,688,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of TNC. Summit Investment Advisors Inc. increased its holdings in Tennant by 7.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,983 shares of the industrial products company's stock worth $162,000 after purchasing an additional 142 shares during the period. Albert D Mason Inc. increased its stake in shares of Tennant by 1.5% during the fourth quarter. Albert D Mason Inc. now owns 9,811 shares of the industrial products company's stock worth $800,000 after buying an additional 145 shares during the period. Franklin Resources Inc. increased its stake in shares of Tennant by 1.3% during the third quarter. Franklin Resources Inc. now owns 12,908 shares of the industrial products company's stock worth $1,213,000 after buying an additional 169 shares during the period. Accredited Investors Inc. raised its holdings in Tennant by 1.4% in the fourth quarter. Accredited Investors Inc. now owns 13,348 shares of the industrial products company's stock valued at $1,088,000 after acquiring an additional 186 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in Tennant by 5.7% in the fourth quarter. Bank of Montreal Can now owns 3,672 shares of the industrial products company's stock worth $299,000 after acquiring an additional 199 shares during the last quarter. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Tennant Stock Up 1.8 %

Shares of NYSE:TNC traded up $1.27 on Thursday, hitting $72.05. 8,952 shares of the company's stock were exchanged, compared to its average volume of 140,577. Tennant has a 1-year low of $67.32 and a 1-year high of $110.45. The company has a market capitalization of $1.35 billion, a PE ratio of 16.45 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 1.97. The firm's 50-day moving average is $76.67 and its 200 day moving average is $82.74.

Tennant (NYSE:TNC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.38 by ($0.26). Tennant had a net margin of 6.51% and a return on equity of 19.98%. The business had revenue of $290.00 million during the quarter, compared to analyst estimates of $296.63 million. During the same period last year, the company earned $1.49 earnings per share. The business's revenue for the quarter was down 6.8% compared to the same quarter last year. Sell-side analysts predict that Tennant will post 5.89 EPS for the current year.

Tennant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a dividend of $0.295 per share. The ex-dividend date is Friday, May 30th. This represents a $1.18 annualized dividend and a yield of 1.64%. Tennant's dividend payout ratio is currently 32.96%.

Tennant declared that its Board of Directors has initiated a stock buyback program on Thursday, February 13th that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

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

Insider Activity at Tennant

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

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.