Tennant Company (NYSE:TNC) Stock Holdings Lifted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in Tennant Company (NYSE:TNC - Free Report) by 68.1% during the first quarter, according to its most recent Form 13F 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 quarter. Allspring Global Investments Holdings LLC owned approximately 0.28% of Tennant worth $4,195,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TNC. Sterling Capital Management LLC grew its stake in Tennant by 668.9% in the fourth quarter. Sterling Capital Management LLC now owns 346 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 301 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Tennant by 429.0% during the 1st quarter. GAMMA Investing LLC now owns 492 shares of the industrial products company's stock worth $39,000 after acquiring an additional 399 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Tennant by 194.8% during the 1st quarter. Farther Finance Advisors LLC now owns 619 shares of the industrial products company's stock worth $50,000 after acquiring an additional 409 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Tennant during the 4th quarter worth about $59,000. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Tennant by 120.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,100 shares of the industrial products company's stock worth $90,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 93.33% of the company's stock.

Tennant Stock Performance

TNC opened at $81.98 on Monday. The company has a market cap of $1.53 billion, a PE ratio of 22.90 and a beta of 1.05. The stock has a 50-day moving average of $75.02 and a 200-day moving average of $79.20. Tennant Company has a 52-week low of $67.32 and a 52-week high of $110.45. 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 (NYSE:TNC - Get Free Report) last released its quarterly earnings results 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 company had revenue of $290.00 million for 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 business's revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.49 EPS. As a group, equities research analysts forecast that Tennant Company will post 5.89 earnings per share for the current fiscal 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 paid a dividend of $0.295 per share. The ex-dividend date was Friday, May 30th. This represents a $1.18 annualized dividend and a yield of 1.44%. Tennant's 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.

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