Universal Beteiligungs und Servicegesellschaft mbH Acquires New Holdings in Tennant Company (NYSE:TNC)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake in Tennant Company, purchasing 9,572 shares valued at approximately $763,000.
• Other institutional investors, such as Jacobson & Schmitt Advisors LLC and Victory Capital Management Inc., have also increased their stakes in Tennant, reflecting growing investor interest in the company.
• Tennant reported earnings per share of $1.12 for the last quarter, missing analysts' estimates by $0.26, and experienced a year-over-year revenue decline of 6.8%.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Tennant Company (NYSE:TNC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 9,572 shares of the industrial products company's stock, valued at approximately $763,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.05% of Tennant as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TNC. Jacobson & Schmitt Advisors LLC lifted its holdings in Tennant by 2.5% in the 1st quarter. Jacobson & Schmitt Advisors LLC now owns 131,027 shares of the industrial products company's stock worth $10,449,000 after buying an additional 3,253 shares during the period. Victory Capital Management Inc. lifted its position in Tennant by 28.2% during the first quarter. Victory Capital Management Inc. now owns 27,837 shares of the industrial products company's stock valued at $2,220,000 after purchasing an additional 6,117 shares during the last quarter. CWM LLC raised its holdings in shares of Tennant by 137.0% in the first quarter. CWM LLC now owns 1,519 shares of the industrial products company's stock worth $121,000 after buying an additional 878 shares during the period. Brown Advisory Inc. grew its stake in Tennant by 3.4% in the 1st quarter. Brown Advisory Inc. now owns 568,138 shares of the industrial products company's stock worth $45,309,000 after acquiring an additional 18,537 shares in the last quarter. Finally, Lightrock Netherlands B.V. raised its holdings in shares of Tennant by 72.2% in the first quarter. Lightrock Netherlands B.V. now owns 104,176 shares of the industrial products company's stock valued at $8,322,000 after acquiring an additional 43,676 shares in the last quarter. 93.33% of the stock is currently owned by institutional investors.

Tennant Stock Performance

Shares of Tennant stock traded down $1.70 on Friday, reaching $80.84. 99,275 shares of the stock were exchanged, compared to its average volume of 110,018. The business has a 50 day moving average price of $78.29 and a two-hundred day moving average price of $79.27. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 22.58 and a beta of 1.06. The company has a quick ratio of 1.40, a current ratio of 2.14 and a debt-to-equity ratio of 0.34. Tennant Company has a twelve month low of $67.32 and a twelve month high of $100.55.

Tennant (NYSE:TNC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.12 EPS for the quarter, missing analysts' consensus estimates of $1.38 by ($0.26). Tennant had a net margin of 5.40% and a return on equity of 17.76%. The firm had revenue of $290.00 million during the quarter, compared to analysts' expectations of $296.63 million. During the same period in the prior year, the company posted $1.49 earnings per share. The company's revenue for the quarter was down 6.8% on a year-over-year basis. Analysts anticipate that Tennant Company will post 5.89 earnings per share for the current fiscal year.

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.