Deutsche Bank AG Raises Stock Holdings in Tennant (NYSE:TNC)

Deutsche Bank AG raised its holdings in Tennant (NYSE:TNC - Free Report) by 169.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,809 shares of the industrial products company's stock after purchasing an additional 18,130 shares during the period. Deutsche Bank AG owned 0.15% of Tennant worth $2,349,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Tennant in the fourth quarter valued at $10,417,000. Deprince Race & Zollo Inc. purchased a new position in Tennant during the 4th quarter valued at about $10,390,000. JPMorgan Chase & Co. increased its position in shares of Tennant by 204.4% during the fourth 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. D. E. Shaw & Co. Inc. boosted its position in shares of Tennant by 668.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 86,130 shares of the industrial products company's stock valued at $7,022,000 after acquiring an additional 74,920 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Tennant in the fourth quarter valued at approximately $5,830,000. Institutional investors own 93.33% of the company's stock.

Tennant Price Performance

TNC traded down $0.49 during trading on Friday, reaching $72.72. The stock had a trading volume of 142,183 shares, compared to its average volume of 142,782. The business has a 50-day moving average of $74.55 and a 200-day moving average of $81.45. Tennant has a one year low of $67.32 and a one year high of $110.45. 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 stock has a market cap of $1.36 billion, a PE ratio of 16.60 and a beta of 1.07.

Tennant (NYSE:TNC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.12 EPS 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 6.51% and a return on equity of 19.98%. Tennant's revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.49 earnings per share. As a group, equities research analysts anticipate that Tennant will post 5.89 EPS for the current fiscal year.

Tennant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Friday, May 30th. Tennant's dividend payout ratio is currently 32.96%.

Tennant announced that its board has authorized a share buyback program on Thursday, February 13th that permits the company to buyback 2,000,000 shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Tennant from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 27th.

Insider Activity at Tennant

In other Tennant news, SVP Barb Balinski sold 1,717 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $86.42, for a total transaction of $148,383.14. Following the completion of the sale, the senior vice president now owns 11,829 shares of the company's stock, valued at $1,022,262.18. This represents a 12.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Richard H. Zay sold 7,053 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $87.58, for a total transaction of $617,701.74. Following the completion of the transaction, the insider now owns 25,770 shares in the company, valued at $2,256,936.60. The trade was a 21.49% decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by 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.