Tennant Company (NYSE:TNC) Holdings Raised by Brown Advisory Inc.

Brown Advisory Inc. grew its position in Tennant Company (NYSE:TNC - Free Report) by 3.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 568,138 shares of the industrial products company's stock after purchasing an additional 18,537 shares during the period. Brown Advisory Inc. owned approximately 3.02% of Tennant worth $45,309,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TNC. Millennium Management LLC raised its holdings in shares of Tennant by 143.6% during the 4th quarter. Millennium Management LLC now owns 462,838 shares of the industrial products company's stock valued at $37,735,000 after buying an additional 272,858 shares during the period. Norges Bank purchased a new stake in shares of Tennant during the 4th quarter valued at about $10,417,000. Deprince Race & Zollo Inc. purchased a new stake in shares of Tennant during the 4th quarter valued at about $10,390,000. Vision One Management Partners LP purchased a new stake in shares of Tennant during the 4th quarter valued at about $9,262,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Tennant by 204.4% during the 4th quarter. JPMorgan Chase & Co. now owns 148,070 shares of the industrial products company's stock valued at $12,072,000 after buying an additional 99,423 shares during the period. 93.33% of the stock is currently owned by hedge funds and other institutional investors.

Tennant Stock Up 0.4%

TNC stock traded up $0.33 during midday trading on Friday, hitting $83.47. 134,545 shares of the company's stock were exchanged, compared to its average volume of 145,503. The company has a current ratio of 2.14, a quick ratio of 1.40 and a debt-to-equity ratio of 0.34. Tennant Company has a 12-month low of $67.32 and a 12-month high of $110.45. The firm has a 50 day moving average price of $76.08 and a 200-day moving average price of $79.26. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 23.32 and a beta of 1.05.

Tennant (NYSE:TNC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.26). Tennant had a return on equity of 17.76% and a net margin of 5.40%. The business had revenue of $290.00 million for the quarter, compared to analysts' expectations of $296.63 million. During the same quarter in the prior year, the firm earned $1.49 earnings per share. Tennant's revenue for the quarter was down 6.8% compared to the same quarter last year. On average, analysts anticipate 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 issued a $0.295 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.41%. Tennant's dividend payout ratio (DPR) 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.