Value Holdings Management CO. LLC Grows Holdings in Tennant Company $TNC

Key Points

• Value Holdings Management CO. LLC increased its stake in Tennant Company by 67% during the first quarter, bringing its total holdings to 16,700 shares valued at approximately $1.33 million.
• Institutional investors hold a significant majority of Tennant Company, with 93.33% of the stock owned by hedge funds and other institutions.
• Tennant reported a quarterly earnings miss, with an EPS of $1.49, falling short of analysts' estimates, and a 3.7% decline in revenue compared to the previous year.

Value Holdings Management CO. LLC lifted its holdings in shares of Tennant Company (NYSE:TNC - Free Report) by 67.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,700 shares of the industrial products company's stock after purchasing an additional 6,700 shares during the period. Value Holdings Management CO. LLC owned 0.09% of Tennant worth $1,332,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Summit Investment Advisors Inc. lifted its holdings in shares of Tennant by 7.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,983 shares of the industrial products company's stock worth $162,000 after purchasing an additional 142 shares during the period. Bank of Montreal Can raised its stake in Tennant by 5.7% during the fourth quarter. Bank of Montreal Can now owns 3,672 shares of the industrial products company's stock worth $299,000 after buying an additional 199 shares during the last quarter. Albert D Mason Inc. raised its stake in Tennant by 2.0% during the first quarter. Albert D Mason Inc. now owns 10,011 shares of the industrial products company's stock worth $798,000 after buying an additional 200 shares during the last quarter. Prentiss Smith & Co. Inc. raised its stake in Tennant by 0.6% during the first quarter. Prentiss Smith & Co. Inc. now owns 39,781 shares of the industrial products company's stock worth $3,173,000 after buying an additional 218 shares during the last quarter. Finally, Accredited Investors Inc. raised its stake in Tennant by 2.0% during the first quarter. Accredited Investors Inc. now owns 13,609 shares of the industrial products company's stock worth $1,085,000 after buying an additional 261 shares during the last quarter. Institutional investors and hedge funds own 93.33% of the company's stock.

Tennant Stock Up 1.2%

Shares of NYSE:TNC traded up $0.9510 during midday trading on Tuesday, hitting $83.4010. 154,730 shares of the company's stock were exchanged, compared to its average volume of 102,687. 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 50 day moving average price of $80.23 and a 200-day moving average price of $78.98. The company has a market cap of $1.54 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 1.79 and a beta of 1.06. Tennant Company has a 12 month low of $67.32 and a 12 month high of $98.52.

Tennant (NYSE:TNC - Get Free Report) last posted its earnings results on Wednesday, August 6th. The industrial products company reported $1.49 EPS 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 return on equity of 16.41% and a net margin of 4.84%.The company's revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.83 earnings per share. On average, sell-side analysts anticipate that Tennant Company will post 5.89 EPS for the current fiscal year.

Tennant Announces Dividend

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

Analyst Ratings Changes

Separately, Zacks Research raised shares of Tennant to a "hold" rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Tennant has a consensus rating of "Moderate Buy" and a consensus price target of $125.00.

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.