Teacher Retirement System of Texas Grows Stock Holdings in Tennant Company (NYSE:TNC)

Teacher Retirement System of Texas grew its stake 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 buying an additional 4,182 shares during the quarter. Teacher Retirement System of Texas owned 0.34% of Tennant worth $5,055,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TNC. Millennium Management LLC raised its position in shares of Tennant by 143.6% during the 4th quarter. Millennium Management LLC now owns 462,838 shares of the industrial products company's stock valued at $37,735,000 after buying an additional 272,858 shares in the last quarter. Norges Bank purchased a new stake in shares of Tennant during the 4th quarter valued at $10,417,000. Deprince Race & Zollo Inc. purchased a new stake in shares of Tennant during the 4th quarter valued at $10,390,000. Vision One Management Partners LP purchased a new stake in shares of Tennant during the 4th quarter valued at $9,262,000. Finally, JPMorgan Chase & Co. raised its position in shares of Tennant by 204.4% during the 4th quarter. JPMorgan Chase & Co. now owns 148,070 shares of the industrial products company's stock valued at $12,072,000 after buying an additional 99,423 shares in the last quarter. Hedge funds and other institutional investors own 93.33% of the company's stock.

Tennant Trading Up 1.2%

Shares of TNC stock traded up $0.97 on Thursday, hitting $83.28. 160,802 shares of the company's stock traded hands, compared to its average volume of 145,321. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.40 and a current ratio of 2.14. Tennant Company has a one year low of $67.32 and a one year high of $110.45. The company's fifty day simple moving average is $75.84 and its 200 day simple moving average is $79.25. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 23.26 and a beta of 1.05.

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

Tennant Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Friday, May 30th. Tennant's dividend payout ratio is currently 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.