Lightrock Netherlands B.V. Increases Stock Position in Tennant Company (NYSE:TNC)

Lightrock Netherlands B.V. boosted its stake in Tennant Company (NYSE:TNC - Free Report) by 72.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,176 shares of the industrial products company's stock after buying an additional 43,676 shares during the period. Tennant accounts for approximately 2.2% of Lightrock Netherlands B.V.'s portfolio, making the stock its 21st largest position. Lightrock Netherlands B.V. owned 0.55% of Tennant worth $8,322,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Tennant by 0.5% during 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 purchasing an additional 12,422 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Tennant by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 597,181 shares of the industrial products company's stock worth $48,688,000 after acquiring an additional 9,920 shares during the last quarter. Millennium Management LLC raised its holdings in Tennant by 143.6% in the 4th quarter. Millennium Management LLC now owns 462,838 shares of the industrial products company's stock worth $37,735,000 after acquiring an additional 272,858 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Tennant by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 259,009 shares of the industrial products company's stock worth $21,117,000 after purchasing an additional 5,890 shares during the period. Finally, Northern Trust Corp grew its position in Tennant by 21.8% in the 4th quarter. Northern Trust Corp now owns 227,754 shares of the industrial products company's stock worth $18,569,000 after purchasing an additional 40,729 shares during the period. 93.33% of the stock is currently owned by hedge funds and other institutional investors.

Tennant Stock Performance

NYSE:TNC traded down $0.33 during trading hours on Friday, reaching $81.98. The company had a trading volume of 64,528 shares, compared to its average volume of 144,927. The company has a current ratio of 2.14, a quick ratio of 1.40 and a debt-to-equity ratio of 0.34. Tennant Company has a 52 week low of $67.32 and a 52 week high of $110.45. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 22.90 and a beta of 1.05. The firm's 50 day moving average price is $75.02 and its 200-day moving average price is $79.20.

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). 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 previous year, the firm earned $1.49 EPS. The company's revenue was down 6.8% on a year-over-year basis. On average, analysts forecast that Tennant Company will post 5.89 EPS for the current year.

Tennant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 1.44%. The ex-dividend date was Friday, May 30th. Tennant's dividend payout ratio is currently 32.96%.

Tennant Profile

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.