Brown Advisory Inc. Increases Stock Position in Tennant Company (NYSE:TNC)

Brown Advisory Inc. increased its holdings in Tennant Company (NYSE:TNC - Free Report) by 3.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 568,138 shares of the industrial products company's stock after purchasing an additional 18,537 shares during the quarter. Brown Advisory Inc. owned approximately 3.02% of Tennant worth $45,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Tennant by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 2,394,271 shares of the industrial products company's stock worth $195,205,000 after purchasing an additional 12,422 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Tennant by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 597,181 shares of the industrial products company's stock worth $48,688,000 after purchasing an additional 9,920 shares during the last quarter. Millennium Management LLC boosted its position in 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 acquiring an additional 272,858 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Tennant by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 259,009 shares of the industrial products company's stock valued at $21,117,000 after acquiring an additional 5,890 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Tennant by 21.8% during the 4th quarter. Northern Trust Corp now owns 227,754 shares of the industrial products company's stock valued at $18,569,000 after acquiring an additional 40,729 shares in the last quarter. 93.33% of the stock is owned by institutional investors.

Tennant Stock Up 0.4%

Tennant stock traded up $0.33 during trading hours on Friday, hitting $83.47. 134,545 shares of the stock traded hands, compared to its average volume of 145,634. The firm's 50-day moving average price is $76.08 and its two-hundred day moving average price is $79.26. The company has a current ratio of 2.14, a quick ratio of 1.40 and a debt-to-equity ratio of 0.34. The company has a market cap of $1.56 billion, a PE ratio of 23.32 and a beta of 1.05. Tennant Company has a one year low of $67.32 and a one year high of $110.45.

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 for the quarter, missing the consensus estimate of $1.38 by ($0.26). The firm had revenue of $290.00 million for the quarter, compared to the consensus estimate of $296.63 million. Tennant had a net margin of 5.40% and a return on equity of 17.76%. The business's revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.49 earnings per share. On average, research analysts forecast that Tennant Company will post 5.89 EPS for the current year.

Tennant Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a dividend of $0.295 per share. The ex-dividend date was Friday, May 30th. This represents a $1.18 annualized dividend and a yield of 1.41%. 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.