Cubist Systematic Strategies LLC Has $374,000 Stake in Tennant Company $TNC

Key Points

• Cubist Systematic Strategies LLC reduced its stake in Tennant Company by 95.4% in Q1, now holding shares valued at approximately $374,000.
• GAMMA Investing LLC significantly increased its holdings by 429.0%, alongside other institutional investors also boosting their stakes in Tennant during the same period.
• Tennant reported a net loss in EPS for the recent quarter, missing the consensus estimate and showing a 3.7% decline in year-over-year revenue.

Cubist Systematic Strategies LLC decreased its holdings in shares of Tennant Company (NYSE:TNC - Free Report) by 95.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,693 shares of the industrial products company's stock after selling 98,206 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Tennant were worth $374,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in Tennant by 429.0% during the first 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 boosted its holdings in Tennant by 194.8% during the first quarter. Farther Finance Advisors LLC now owns 619 shares of the industrial products company's stock worth $50,000 after purchasing an additional 409 shares during the last quarter. CWM LLC boosted its holdings in Tennant by 137.0% during the first quarter. CWM LLC now owns 1,519 shares of the industrial products company's stock worth $121,000 after purchasing an additional 878 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Tennant by 18.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,060 shares of the industrial products company's stock worth $249,000 after purchasing an additional 469 shares during the last quarter. Finally, Turtle Creek Asset Management Inc. acquired a new position in Tennant during the fourth quarter worth $261,000. Institutional investors and hedge funds own 93.33% of the company's stock.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Tennant to a "hold" rating in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Tennant has a consensus rating of "Moderate Buy" and a consensus target price of $125.00.

Tennant Price Performance

Shares of TNC opened at $82.96 on Friday. The firm has a market capitalization of $1.53 billion, a PE ratio of 25.85, a PEG ratio of 1.76 and a beta of 1.09. The company's 50-day moving average is $82.05 and its 200-day moving average is $78.47. Tennant Company has a fifty-two week low of $67.32 and a fifty-two week high of $98.52. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.09 and a quick ratio of 1.38.

Tennant (NYSE:TNC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.14). The company had revenue of $318.60 million during the quarter, compared to the consensus estimate of $327.20 million. Tennant had a net margin of 4.84% and a return on equity of 16.41%. Tennant's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.83 earnings per share. Equities analysts forecast that Tennant Company will post 5.89 EPS for the current year.

Tennant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a $0.295 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.18 annualized dividend and a dividend yield of 1.4%. Tennant's dividend payout ratio is presently 36.76%.

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.

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