Charles Schwab Investment Management Inc. Buys 20,225 Shares of 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. lifted its stake in shares of Tennant Company (NYSE:TNC - Free Report) by 7.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 279,234 shares of the industrial products company's stock after purchasing an additional 20,225 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.48% of Tennant worth $22,269,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. PNC Financial Services Group Inc. raised 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 worth $464,000 after acquiring an additional 728 shares in the last quarter. SFE Investment Counsel raised 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 worth $1,388,000 after acquiring an additional 323 shares in the last quarter. Accredited Investors Inc. raised 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 worth $1,085,000 after acquiring an additional 261 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Tennant in the first quarter worth $763,000. Finally, Jacobson & Schmitt Advisors LLC raised 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 worth $10,449,000 after acquiring an additional 3,253 shares in the last quarter. Hedge funds and other institutional investors own 93.33% of the company's stock.

Tennant Price Performance

Tennant stock traded up $0.15 during trading hours on Tuesday, hitting $83.20. The stock had a trading volume of 21,789 shares, compared to its average volume of 152,253. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.09 and a quick ratio of 1.38. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 1.82 and a beta of 1.06. Tennant Company has a 1-year low of $67.32 and a 1-year high of $98.52. The stock's fifty day moving average is $80.81 and its two-hundred day moving average is $78.85.

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

Tennant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.295 per share. The ex-dividend date is Friday, August 29th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.4%. Tennant's payout ratio is currently 36.76%.

Analyst Ratings Changes

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

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.