UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 4,342 Shares of Tennant (NYSE:TNC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Tennant (NYSE:TNC - Free Report) by 10.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 47,793 shares of the industrial products company's stock after acquiring an additional 4,342 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.25% of Tennant worth $3,897,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Voloridge Investment Management LLC raised its position in shares of Tennant by 150.0% in the 4th quarter. Voloridge Investment Management LLC now owns 150,454 shares of the industrial products company's stock valued at $12,267,000 after acquiring an additional 90,273 shares during the period. Vision One Management Partners LP bought a new stake in Tennant in the fourth quarter valued at approximately $9,262,000. Squarepoint Ops LLC increased its stake in Tennant by 8.7% in the fourth quarter. Squarepoint Ops LLC now owns 10,332 shares of the industrial products company's stock valued at $842,000 after purchasing an additional 830 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Tennant by 88.6% in the fourth quarter. Two Sigma Advisers LP now owns 36,400 shares of the industrial products company's stock worth $2,968,000 after purchasing an additional 17,100 shares during the period. Finally, Two Sigma Investments LP raised its holdings in Tennant by 206.5% in the fourth quarter. Two Sigma Investments LP now owns 82,794 shares of the industrial products company's stock worth $6,750,000 after purchasing an additional 55,782 shares during the period. Institutional investors own 93.33% of the company's stock.

Tennant Stock Up 1.6%

Tennant stock traded up $1.20 during midday trading on Friday, reaching $74.57. The stock had a trading volume of 114,233 shares, compared to its average volume of 142,044. The stock has a market capitalization of $1.39 billion, a P/E ratio of 17.02 and a beta of 1.05. The firm's fifty day simple moving average is $72.93 and its 200-day simple moving average is $80.47. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 1.97. Tennant has a 1-year low of $67.32 and a 1-year high of $110.45.

Tennant (NYSE:TNC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.26). Tennant had a return on equity of 19.98% and a net margin of 6.51%. 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 prior year, the business earned $1.49 earnings per share. Tennant's revenue was down 6.8% compared to the same quarter last year. As a group, analysts expect that Tennant will post 5.89 EPS for the current fiscal year.

Tennant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.295 per share. The ex-dividend date is Friday, May 30th. This represents a $1.18 annualized dividend and a yield of 1.58%. Tennant's dividend payout ratio (DPR) is presently 32.96%.

Tennant declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 13th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Tennant from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 27th.

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.