Tennant Company (NYSE:TNC) Position Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its position in Tennant Company (NYSE:TNC - Free Report) by 68.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,244 shares of the industrial products company's stock after purchasing an additional 21,164 shares during the period. Allspring Global Investments Holdings LLC owned about 0.28% of Tennant worth $4,195,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TNC. Sterling Capital Management LLC grew its holdings in Tennant by 668.9% during 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 last quarter. GAMMA Investing LLC boosted its holdings in shares of Tennant by 429.0% during the first quarter. GAMMA Investing LLC now owns 492 shares of the industrial products company's stock worth $39,000 after purchasing an additional 399 shares during the last quarter. Farther Finance Advisors LLC boosted 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 worth $50,000 after purchasing an additional 409 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Tennant during the fourth quarter worth $59,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of 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 worth $90,000 after purchasing an additional 600 shares during the last quarter. 93.33% of the stock is owned by hedge funds and other institutional investors.

Tennant Trading Up 1.2%

Shares of TNC stock traded up $0.97 during mid-day trading on Thursday, hitting $83.28. 160,751 shares of the company's stock were exchanged, compared to its average volume of 145,002. Tennant Company has a fifty-two week low of $67.32 and a fifty-two week high of $110.45. The stock has a 50-day simple moving average of $75.57 and a two-hundred day simple moving average of $79.22. The company has a quick ratio of 1.40, a current ratio of 2.14 and a debt-to-equity ratio of 0.34. The stock has a market cap 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 issued its earnings results on Wednesday, April 30th. The industrial products company reported $1.12 earnings per share 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 firm had revenue of $290.00 million during the quarter, compared to analyst estimates of $296.63 million. During the same quarter in the previous year, the business posted $1.49 EPS. Tennant's revenue was down 6.8% compared to the same quarter last year. Equities analysts expect that Tennant Company will post 5.89 EPS for the current fiscal year.

Tennant Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Friday, May 30th. Tennant's payout ratio is 32.96%.

Tennant Company 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.