Charles Schwab Investment Management Inc. Has $22.27 Million Stock Position in Tennant Company $TNC

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Tennant Company by 7.8% in Q1, owning approximately 1.48% of the company's shares valued at $22.27 million.
• Tennant Company reported Q2 earnings of $1.49 EPS, falling short of analysts' expectations and revenue declining by 3.7% year-over-year.
• The company announced a quarterly dividend of $0.295 per share, with a dividend yield of 1.5%, to be paid on September 15th.

Charles Schwab Investment Management Inc. raised its holdings in shares of Tennant Company (NYSE:TNC - Free Report) by 7.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 279,234 shares of the industrial products company's stock after buying an additional 20,225 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.48% of Tennant worth $22,269,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. PNC Financial Services Group Inc. grew its position in Tennant by 14.3% in the first quarter. PNC Financial Services Group Inc. now owns 5,813 shares of the industrial products company's stock valued at $464,000 after acquiring an additional 728 shares during the period. SFE Investment Counsel grew its position in Tennant by 1.9% in the first quarter. SFE Investment Counsel now owns 17,400 shares of the industrial products company's stock valued at $1,388,000 after acquiring an additional 323 shares during the period. Accredited Investors Inc. grew its position in Tennant by 2.0% in the first quarter. Accredited Investors Inc. now owns 13,609 shares of the industrial products company's stock valued at $1,085,000 after acquiring an additional 261 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Tennant in the first quarter valued at $763,000. Finally, Jacobson & Schmitt Advisors LLC grew its position in Tennant by 2.5% in the first quarter. Jacobson & Schmitt Advisors LLC now owns 131,027 shares of the industrial products company's stock valued at $10,449,000 after acquiring an additional 3,253 shares during the period. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Zacks Research upgraded Tennant to a "hold" rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $125.00.

Tennant Trading Up 1.0%

TNC traded up $0.86 during midday trading on Wednesday, reaching $83.74. 104,113 shares of the company were exchanged, compared to its average volume of 112,691. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.38 and a current ratio of 2.09. Tennant Company has a one year low of $67.32 and a one year high of $98.52. The stock has a market capitalization of $1.55 billion, a P/E ratio of 26.09, a PEG ratio of 1.80 and a beta of 1.06. The stock's 50-day simple moving average is $81.15 and its 200 day simple moving average is $78.91.

Tennant (NYSE:TNC - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.14). The business had revenue of $318.60 million for the quarter, compared to the consensus estimate of $327.20 million. Tennant had a net margin of 4.84% and a return on equity of 16.41%. The company's revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.83 EPS. As a group, analysts forecast that Tennant Company will post 5.89 earnings per share for the current fiscal year.

Tennant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $0.295 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.18 annualized dividend and a yield of 1.4%. Tennant's payout ratio is presently 36.76%.

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.