Trexquant Investment LP Has $3.54 Million Stock Holdings in Tennant Company $TNC

Key Points

• Trexquant Investment LP has reduced its stake in Tennant Company by 13.2%, now holding approximately 0.24% of the company worth $3.54 million.
• Other institutional investors showed increased interest, with GAMMA Investing LLC growing its position by 429%, while 93.33% of the stock is now owned by institutional investors.
• Tennant's recent earnings report indicated a missed EPS estimate of $1.49, with quarterly revenue down 3.7% year-over-year, and the company declared a quarterly dividend of $0.295 per share.

Trexquant Investment LP cut its stake in Tennant Company (NYSE:TNC - Free Report) by 13.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,382 shares of the industrial products company's stock after selling 6,759 shares during the period. Trexquant Investment LP owned 0.24% of Tennant worth $3,539,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Brown Advisory Inc. raised its holdings in Tennant by 3.4% in the first quarter. Brown Advisory Inc. now owns 568,138 shares of the industrial products company's stock valued at $45,309,000 after acquiring an additional 18,537 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in Tennant by 0.3% during the first quarter. Gamco Investors INC. ET AL now owns 474,650 shares of the industrial products company's stock worth $37,853,000 after purchasing an additional 1,600 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Tennant by 143.6% during the fourth quarter. Millennium Management LLC now owns 462,838 shares of the industrial products company's stock valued at $37,735,000 after purchasing an additional 272,858 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Tennant by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 279,234 shares of the industrial products company's stock valued at $22,269,000 after purchasing an additional 20,225 shares during the period. Finally, Northern Trust Corp grew its holdings in Tennant by 21.8% during the fourth quarter. Northern Trust Corp now owns 227,754 shares of the industrial products company's stock worth $18,569,000 after acquiring an additional 40,729 shares during the period. 93.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Tennant to a "hold" rating in a 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $125.00.

Tennant Stock Down 1.1%

NYSE:TNC traded down $0.94 on Monday, hitting $82.00. 12,354 shares of the company's stock traded hands, compared to its average volume of 149,835. The company has a current ratio of 2.09, a quick ratio of 1.38 and a debt-to-equity ratio of 0.33. Tennant Company has a 1 year low of $67.32 and a 1 year high of $98.52. The firm has a 50-day moving average price of $81.93 and a 200-day moving average price of $78.50. The company has a market cap of $1.51 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 1.80 and a beta of 1.09.

Tennant (NYSE:TNC - Get Free Report) last released its earnings results 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). Tennant had a net margin of 4.84% and a return on equity of 16.41%. The business had revenue of $318.60 million for the quarter, compared to analysts' expectations of $327.20 million. During the same period last year, the firm earned $1.83 EPS. The company's revenue was down 3.7% compared to the same quarter last year. Equities analysts anticipate that Tennant Company will post 5.89 EPS for the current fiscal year.

Tennant Announces Dividend

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

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.