Russell Investments Group Ltd. Buys 25,392 Shares of Tennant Company $TNC

Key Points

• Russell Investments Group Ltd. increased its stake in Tennant Company by 46.1% during the first quarter, now owning approximately 0.43% of the company valued at $6.41 million.
• Tennant Company reported $1.49 EPS for the last quarter, which fell short of analysts' expectations of $1.63, with revenue also declining 3.7% year-over-year.
• The company declared a quarterly dividend of $0.295 per share, resulting in an annual yield of 1.4%, aligning with a payout ratio of 36.76%.

Russell Investments Group Ltd. boosted its stake in Tennant Company (NYSE:TNC - Free Report) by 46.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,430 shares of the industrial products company's stock after buying an additional 25,392 shares during the period. Russell Investments Group Ltd. owned 0.43% of Tennant worth $6,414,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Sterling Capital Management LLC lifted its stake in Tennant by 668.9% during the fourth quarter. Sterling Capital Management LLC now owns 346 shares of the industrial products company's stock valued at $28,000 after buying an additional 301 shares in the last quarter. GAMMA Investing LLC raised its position in Tennant by 429.0% during 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 in the last quarter. Farther Finance Advisors LLC grew its holdings in Tennant by 194.8% during 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 last quarter. Canada Pension Plan Investment Board grew its holdings in Tennant by 120.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,100 shares of the industrial products company's stock valued at $90,000 after purchasing an additional 600 shares during the last quarter. Finally, CWM LLC grew its holdings in Tennant by 137.0% during 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 last quarter. Institutional investors own 93.33% of the company's stock.

Analyst Upgrades and Downgrades

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

Tennant Trading Up 3.8%

Shares of TNC stock traded up $3.0340 on Friday, reaching $83.7640. The company had a trading volume of 97,653 shares, compared to its average volume of 110,384. The company has a current ratio of 2.09, a quick ratio of 1.38 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average of $80.64 and a 200-day moving average of $78.91. Tennant Company has a 12 month low of $67.32 and a 12 month high of $98.52. The stock has a market cap of $1.55 billion, a PE ratio of 26.09, a PEG ratio of 1.82 and a beta of 1.06.

Tennant (NYSE:TNC - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $318.60 million for the quarter, compared to analyst estimates of $327.20 million. Tennant had a return on equity of 16.41% and a net margin of 4.84%.The company's revenue was down 3.7% compared to the same quarter last year. During the same period last year, the company earned $1.83 EPS. On average, equities analysts forecast that Tennant Company will post 5.89 earnings per share for the current year.

Tennant Dividend Announcement

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 given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 29th. Tennant's payout ratio is presently 36.76%.

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.