Hsbc Holdings PLC Has $454,000 Holdings in Tennant Company $TNC

Key Points

• Hsbc Holdings PLC reduced its stake in Tennant Company by 44.7%, holding 5,693 shares valued at $454,000 after selling 4,607 shares in the first quarter.
• Tennant reported earnings per share (EPS) of $1.49 for the last quarter, missing estimates by $0.14, and its revenue decreased 3.7% compared to the previous year.
• The company declared a quarterly dividend of $0.295 per share, with a payout ratio of 36.76%, to be paid on September 15th.

Hsbc Holdings PLC decreased its holdings in shares of Tennant Company (NYSE:TNC - Free Report) by 44.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,693 shares of the industrial products company's stock after selling 4,607 shares during the quarter. Hsbc Holdings PLC's holdings in Tennant were worth $454,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Value Holdings Management CO. LLC raised its holdings in shares of Tennant by 67.0% during the 1st quarter. Value Holdings Management CO. LLC now owns 16,700 shares of the industrial products company's stock valued at $1,332,000 after buying an additional 6,700 shares during the period. Cresset Asset Management LLC lifted its holdings in Tennant by 12.1% in the 1st quarter. Cresset Asset Management LLC now owns 3,372 shares of the industrial products company's stock worth $269,000 after buying an additional 365 shares in the last quarter. American Century Companies Inc. lifted its holdings in Tennant by 44.3% in the 1st quarter. American Century Companies Inc. now owns 222,821 shares of the industrial products company's stock worth $17,770,000 after buying an additional 68,453 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Tennant by 46.1% in the 1st quarter. Russell Investments Group Ltd. now owns 80,430 shares of the industrial products company's stock worth $6,414,000 after buying an additional 25,392 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in Tennant by 27.2% in the 1st quarter. Public Sector Pension Investment Board now owns 59,806 shares of the industrial products company's stock worth $4,770,000 after buying an additional 12,773 shares in the last quarter. Institutional investors and hedge funds own 93.33% of the company's stock.

Tennant Trading Up 0.5%

Shares of NYSE:TNC traded up $0.38 during mid-day trading on Friday, hitting $82.95. The stock had a trading volume of 54,640 shares, compared to its average volume of 150,320. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.38 and a current ratio of 2.09. The company has a market cap of $1.53 billion, a PE ratio of 25.84, a P/E/G ratio of 1.74 and a beta of 1.09. Tennant Company has a 12-month low of $67.32 and a 12-month high of $98.52. The company's 50 day moving average is $81.84 and its 200-day moving average is $78.66.

Tennant (NYSE:TNC - Get Free Report) last released 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). Tennant had a net margin of 4.84% and a return on equity of 16.41%. The company had revenue of $318.60 million during the quarter, compared to analyst estimates of $327.20 million. During the same quarter in the prior year, the company posted $1.83 EPS. The firm's quarterly revenue was down 3.7% compared to the same quarter last year. On average, sell-side analysts predict that Tennant Company will post 5.89 EPS for the current year.

Tennant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.295 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.18 dividend on an annualized basis and a yield of 1.4%. Tennant's dividend payout ratio (DPR) is presently 36.76%.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded 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 given a Hold rating to the stock. According to data from MarketBeat, Tennant currently has a consensus rating of "Moderate Buy" and a consensus price target of $125.00.

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.