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 stake in Tennant Company (NYSE:TNC - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Tennant by 429.0% in the first quarter. GAMMA Investing LLC now owns 492 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 399 shares during the last quarter. Farther Finance Advisors LLC raised its position in Tennant by 194.8% in the first quarter. Farther Finance Advisors LLC now owns 619 shares of the industrial products company's stock valued at $50,000 after purchasing an additional 409 shares during the period. CWM LLC raised its position in Tennant by 137.0% in the first quarter. CWM LLC now owns 1,519 shares of the industrial products company's stock valued at $121,000 after purchasing an additional 878 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Tennant by 18.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,060 shares of the industrial products company's stock valued at $249,000 after purchasing an additional 469 shares during the period. Finally, Turtle Creek Asset Management Inc. purchased a new stake in Tennant in the fourth quarter valued at approximately $261,000. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Tennant Trading Down 1.1%

NYSE TNC traded down $0.92 on Monday, reaching $82.07. The stock had a trading volume of 80,877 shares, compared to its average volume of 109,645. Tennant Company has a 12-month low of $67.32 and a 12-month high of $98.52. The stock has a fifty day moving average price of $81.46 and a two-hundred day moving average price of $78.71. The company has a quick ratio of 1.38, a current ratio of 2.09 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 25.57, a P/E/G ratio of 1.78 and a beta of 1.09.

Tennant (NYSE:TNC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.49 earnings per share for the quarter, missing analysts' consensus estimates of $1.63 by ($0.14). Tennant had a return on equity of 16.41% and a net margin of 4.84%.The company had revenue of $318.60 million for the quarter, compared to analysts' expectations of $327.20 million. During the same period in the prior year, the company posted $1.83 EPS. The firm's revenue was down 3.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Tennant Company will post 5.89 EPS for the current fiscal year.

Tennant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.4%. Tennant's dividend payout ratio is currently 36.76%.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised Tennant to a "hold" rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $125.00.

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.