Keeley Teton Advisors LLC Invests $1.64 Million in Tennant Company $TNC

Key Points

• Keeley Teton Advisors LLC invested approximately $1.64 million in Tennant Company, acquiring 20,547 shares, representing about 0.11% of the company's total shares.
• Tennant's stock has a consensus rating of "Moderate Buy" with an average target price of $125.00, following a recent upgrade by Zacks Research.
• The company recently announced a quarterly dividend of $0.295, reflecting a 1.4% dividend yield and a payout ratio of 36.76%.

Keeley Teton Advisors LLC acquired a new position in shares of Tennant Company (NYSE:TNC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,547 shares of the industrial products company's stock, valued at approximately $1,639,000. Keeley Teton Advisors LLC owned about 0.11% of Tennant at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TNC. Wells Fargo & Company MN raised its position in shares of Tennant by 85.5% during the fourth quarter. Wells Fargo & Company MN now owns 14,502 shares of the industrial products company's stock worth $1,182,000 after acquiring an additional 6,683 shares during the last quarter. Barclays PLC boosted its position in shares of Tennant by 3.9% during the 4th quarter. Barclays PLC now owns 41,707 shares of the industrial products company's stock valued at $3,401,000 after purchasing an additional 1,556 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Tennant during the 4th quarter valued at about $1,309,000. Dimensional Fund Advisors LP boosted its position in shares of Tennant by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 597,181 shares of the industrial products company's stock valued at $48,688,000 after purchasing an additional 9,920 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of Tennant by 8.3% during the 4th quarter. MetLife Investment Management LLC now owns 11,565 shares of the industrial products company's stock valued at $943,000 after purchasing an additional 887 shares in the last quarter. 93.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Zacks Research upgraded Tennant to a "hold" rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $125.00.

Tennant Stock Up 0.1%

Shares of Tennant stock opened at $83.13 on Wednesday. Tennant Company has a one year low of $67.32 and a one year high of $98.52. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 1.80 and a beta of 1.06. The stock's 50-day moving average is $80.97 and its 200 day moving average is $78.87. 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 earnings results on Wednesday, August 6th. The industrial products company reported $1.49 EPS for the quarter, missing analysts' consensus estimates of $1.63 by ($0.14). Tennant had a net margin of 4.84% and a return on equity of 16.41%. The firm had revenue of $318.60 million during the quarter, compared to the consensus estimate of $327.20 million. During the same period in the previous year, the firm earned $1.83 earnings per share. The business's quarterly revenue was down 3.7% on a year-over-year basis. Equities research analysts anticipate that Tennant Company will post 5.89 EPS for the current year.

Tennant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued 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 currently 36.76%.

Tennant 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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