Tennant Company (NYSE:TNC) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its holdings in shares of Tennant Company (NYSE:TNC - Free Report) by 43.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,126 shares of the industrial products company's stock after selling 88,860 shares during the period. Assenagon Asset Management S.A. owned about 0.62% of Tennant worth $9,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC lifted its holdings in Tennant by 668.9% during the fourth quarter. Sterling Capital Management LLC now owns 346 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 301 shares in the last quarter. GAMMA Investing LLC raised its position 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 last quarter. Farther Finance Advisors LLC lifted its stake in Tennant by 194.8% in the 1st quarter. Farther Finance Advisors LLC now owns 619 shares of the industrial products company's stock valued at $50,000 after buying an additional 409 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Tennant in the 4th quarter worth about $59,000. Finally, Canada Pension Plan Investment Board boosted its holdings in Tennant by 120.0% in the 4th 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 last quarter. Institutional investors and hedge funds own 93.33% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Tennant from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 27th.

Tennant Price Performance

TNC traded up $0.28 on Tuesday, reaching $74.96. 151,620 shares of the company's stock were exchanged, compared to its average volume of 142,089. The stock has a market cap of $1.40 billion, a PE ratio of 20.94 and a beta of 1.05. Tennant Company has a twelve month low of $67.32 and a twelve month high of $110.45. The stock's fifty day moving average price is $73.18 and its 200-day moving average price is $79.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.14 and a quick ratio of 1.40.

Tennant (NYSE:TNC - Get Free Report) last released its earnings results on Wednesday, April 30th. The industrial products company reported $1.12 earnings per share for the quarter, missing analysts' consensus estimates of $1.38 by ($0.26). The business had revenue of $290.00 million during the quarter, compared to analysts' expectations of $296.63 million. Tennant had a return on equity of 17.76% and a net margin of 5.40%. The company's revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period last year, the business earned $1.49 earnings per share. Sell-side analysts expect that Tennant Company will post 5.89 EPS for the current year.

Tennant Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a dividend of $0.295 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.18 annualized dividend and a dividend yield of 1.57%. Tennant's payout ratio is 32.96%.

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.