Teacher Retirement System of Texas Acquires 4,182 Shares of Tennant Company (NYSE:TNC)

Teacher Retirement System of Texas increased its holdings in shares of Tennant Company (NYSE:TNC - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,391 shares of the industrial products company's stock after acquiring an additional 4,182 shares during the period. Teacher Retirement System of Texas owned about 0.34% of Tennant worth $5,055,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in TNC. Allspring Global Investments Holdings LLC lifted its holdings in shares of Tennant by 68.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 52,244 shares of the industrial products company's stock valued at $4,195,000 after acquiring an additional 21,164 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Tennant by 25.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,849 shares of the industrial products company's stock valued at $307,000 after purchasing an additional 789 shares during the last quarter. Amundi lifted its holdings in Tennant by 190.4% during the 4th quarter. Amundi now owns 9,666 shares of the industrial products company's stock valued at $773,000 after purchasing an additional 6,338 shares during the last quarter. Vanguard Group Inc. boosted its position in Tennant by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 2,394,271 shares of the industrial products company's stock valued at $195,205,000 after buying an additional 12,422 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Tennant by 194.8% during the first quarter. Farther Finance Advisors LLC now owns 619 shares of the industrial products company's stock worth $50,000 after buying an additional 409 shares during the last quarter. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Tennant Price Performance

Shares of NYSE TNC traded up $0.33 during mid-day trading on Friday, hitting $83.47. 134,545 shares of the stock were exchanged, compared to its average volume of 145,278. Tennant Company has a twelve month low of $67.32 and a twelve month high of $110.45. The stock's fifty day simple moving average is $76.08 and its two-hundred day simple moving average is $79.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.40 and a current ratio of 2.14. The company has a market cap of $1.56 billion, a P/E ratio of 23.32 and a beta of 1.05.

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 the consensus estimate of $1.38 by ($0.26). The business had revenue of $290.00 million during the quarter, compared to the consensus estimate of $296.63 million. Tennant had a net margin of 5.40% and a return on equity of 17.76%. The company's revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.49 EPS. As a group, analysts forecast 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 1.41%. The ex-dividend date of this dividend was Friday, May 30th. Tennant's payout ratio is presently 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.