Public Sector Pension Investment Board Has $4.77 Million Stake in Tennant Company $TNC

Public Sector Pension Investment Board lifted its stake in Tennant Company (NYSE:TNC - Free Report) by 27.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,806 shares of the industrial products company's stock after acquiring an additional 12,773 shares during the period. Public Sector Pension Investment Board owned 0.32% of Tennant worth $4,770,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in TNC. Millennium Management LLC raised its stake in shares of Tennant by 143.6% in the 4th quarter. Millennium Management LLC now owns 462,838 shares of the industrial products company's stock valued at $37,735,000 after acquiring an additional 272,858 shares in the last quarter. Nuveen LLC bought a new position in shares of Tennant in the 1st quarter valued at approximately $10,328,000. Deprince Race & Zollo Inc. bought a new position in shares of Tennant in the 4th quarter valued at approximately $10,390,000. Vision One Management Partners LP bought a new position in shares of Tennant in the 4th quarter valued at approximately $9,262,000. Finally, Voloridge Investment Management LLC raised its stake in shares of Tennant by 150.0% in the 4th quarter. Voloridge Investment Management LLC now owns 150,454 shares of the industrial products company's stock valued at $12,267,000 after acquiring an additional 90,273 shares in the last quarter. 93.33% of the stock is owned by institutional investors.

Tennant Stock Performance

Shares of NYSE:TNC traded up $0.9510 during trading on Tuesday, hitting $83.4010. 154,730 shares of the stock were exchanged, compared to its average volume of 102,687. Tennant Company has a 1-year low of $67.32 and a 1-year high of $98.52. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 1.79 and a beta of 1.06. The company's fifty day simple moving average is $80.23 and its 200-day simple moving average is $78.98. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.38 and a current ratio of 2.09.

Tennant (NYSE:TNC - Get Free Report) last announced 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 return on equity of 16.41% and a net margin of 4.84%.The firm had revenue of $318.60 million for the quarter, compared to analyst estimates of $327.20 million. During the same period in the previous year, the business posted $1.83 EPS. Tennant's revenue for the quarter was down 3.7% compared to the same quarter last year. Sell-side analysts expect that Tennant Company will post 5.89 EPS for the current fiscal year.

Tennant Dividend Announcement

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

Analyst Ratings Changes

Separately, Zacks Research raised 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 given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.