Deutsche Bank AG Has $2.35 Million Position in Tennant (NYSE:TNC)

Deutsche Bank AG increased its holdings in shares of Tennant (NYSE:TNC - Free Report) by 169.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,809 shares of the industrial products company's stock after acquiring an additional 18,130 shares during the quarter. Deutsche Bank AG owned about 0.15% of Tennant worth $2,349,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its holdings in Tennant by 668.9% in the 4th 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 during the period. SBI Securities Co. Ltd. bought a new stake in shares of Tennant in the fourth quarter valued at approximately $59,000. KBC Group NV grew its position in Tennant by 69.5% during the fourth quarter. KBC Group NV now owns 961 shares of the industrial products company's stock worth $78,000 after buying an additional 394 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Tennant by 120.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,100 shares of the industrial products company's stock worth $90,000 after acquiring an additional 600 shares during the period. Finally, R Squared Ltd bought a new position in Tennant during the 4th quarter worth $92,000. Institutional investors own 93.33% of the company's stock.

Analysts Set New Price Targets

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

Tennant Price Performance

TNC stock traded down $0.98 during mid-day trading on Wednesday, hitting $73.97. The stock had a trading volume of 5,091 shares, compared to its average volume of 169,291. The firm has a fifty day simple moving average of $74.11 and a 200 day simple moving average of $81.28. The firm has a market capitalization of $1.38 billion, a P/E ratio of 16.89 and a beta of 1.07. The company has a current ratio of 1.97, a quick ratio of 1.43 and a debt-to-equity ratio of 0.32. Tennant has a 52 week low of $67.32 and a 52 week high of $110.45.

Tennant (NYSE:TNC - Get Free Report) last posted its quarterly earnings results 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 19.98% and a net margin of 6.51%. The firm had revenue of $290.00 million for the quarter, compared to analyst estimates of $296.63 million. During the same quarter in the prior year, the business posted $1.49 EPS. The business's revenue was down 6.8% on a year-over-year basis. As a group, research analysts forecast that Tennant will post 5.89 EPS for the current year.

Tennant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.295 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.60%. Tennant's dividend payout ratio (DPR) is currently 32.96%.

Tennant announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 13th that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other Tennant news, SVP Barb Balinski sold 1,717 shares of Tennant stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $86.42, for a total value of $148,383.14. Following the transaction, the senior vice president now owns 11,829 shares in the company, valued at $1,022,262.18. The trade was a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.60% of the stock is owned by corporate insiders.

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.