Hotchkis & Wiley Capital Management LLC acquired a new stake in Tennant Company (NYSE:TNC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 115,390 shares of the industrial products company's stock, valued at approximately $9,202,000. Hotchkis & Wiley Capital Management LLC owned approximately 0.62% of Tennant as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in TNC. Dorsey & Whitney Trust CO LLC boosted its position in Tennant by 0.9% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 56,470 shares of the industrial products company's stock valued at $4,503,000 after buying an additional 495 shares during the period. Van Lanschot Kempen Investment Management N.V. acquired a new stake in shares of Tennant in the first quarter valued at $13,456,000. Value Holdings Management CO. LLC raised its stake in shares of Tennant by 67.0% in the first quarter. Value Holdings Management CO. LLC now owns 16,700 shares of the industrial products company's stock valued at $1,332,000 after acquiring an additional 6,700 shares in the last quarter. Cresset Asset Management LLC boosted its holdings in Tennant by 12.1% in the first quarter. Cresset Asset Management LLC now owns 3,372 shares of the industrial products company's stock valued at $269,000 after purchasing an additional 365 shares during the period. Finally, American Century Companies Inc. grew its stake in Tennant by 44.3% during the 1st quarter. American Century Companies Inc. now owns 222,821 shares of the industrial products company's stock worth $17,770,000 after purchasing an additional 68,453 shares in the last quarter. 93.33% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, Zacks Research raised Tennant to a "hold" rating in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Tennant currently has an average rating of "Moderate Buy" and a consensus target price of $125.00.
Check Out Our Latest Report on TNC
Tennant Stock Performance
Shares of TNC stock opened at $83.7640 on Monday. The company has a market cap of $1.55 billion, a P/E ratio of 26.09, a PEG ratio of 1.82 and a beta of 1.06. The firm has a fifty day moving average price of $80.64 and a 200 day moving average price of $78.87. The company has a current ratio of 2.09, a quick ratio of 1.38 and a debt-to-equity ratio of 0.33. Tennant Company has a 12 month low of $67.32 and a 12 month high of $98.52.
Tennant (NYSE:TNC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.63 by ($0.14). The business had revenue of $318.60 million for the quarter, compared to analysts' expectations of $327.20 million. Tennant had a return on equity of 16.41% and a net margin of 4.84%.The firm's quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the firm earned $1.83 earnings per share. Sell-side analysts predict that Tennant Company will post 5.89 earnings per share for the current fiscal year.
Tennant Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, August 29th. Tennant's dividend payout ratio is currently 36.76%.
Tennant Profile
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Free Report)
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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