Teacher Retirement System of Texas Raises Stock Position in Tennant Company (NYSE:TNC)

Teacher Retirement System of Texas boosted its stake in Tennant Company (NYSE:TNC - Free Report) by 7.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,391 shares of the industrial products company's stock after purchasing an additional 4,182 shares during the quarter. Teacher Retirement System of Texas owned about 0.34% of Tennant worth $5,055,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC grew its stake in shares of Tennant by 668.9% in the 4th 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 during the period. GAMMA Investing LLC grew its stake 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 period. Farther Finance Advisors LLC increased its holdings in shares of 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 acquiring an additional 409 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Tennant in the 4th quarter worth $59,000. Finally, Canada Pension Plan Investment Board grew its position in Tennant by 120.0% in the 4th 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 period. 93.33% of the stock is owned by institutional investors.

Tennant Stock Up 1.6%

NYSE TNC traded up $1.32 during trading hours on Wednesday, hitting $82.71. The company's stock had a trading volume of 129,672 shares, compared to its average volume of 144,939. The company has a current ratio of 2.14, a quick ratio of 1.40 and a debt-to-equity ratio of 0.34. The company's 50-day simple moving average is $75.57 and its two-hundred day simple moving average is $79.22. The company has a market capitalization of $1.54 billion, a PE ratio of 23.10 and a beta of 1.05. Tennant Company has a 52 week low of $67.32 and a 52 week high of $110.45.

Tennant (NYSE:TNC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.38 by ($0.26). The firm had revenue of $290.00 million during the quarter, compared to the consensus estimate of $296.63 million. Tennant had a return on equity of 17.76% and a net margin of 5.40%. The company's revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.49 earnings per share. Research analysts anticipate that Tennant Company will post 5.89 EPS for the current fiscal year.

Tennant Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Friday, May 30th. Tennant's dividend payout ratio is 32.96%.

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.