Value Holdings Management CO. LLC Acquires 6,700 Shares of 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 grew its holdings in shares of Tennant Company (NYSE:TNC - Free Report) by 67.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,700 shares of the industrial products company's stock after purchasing an additional 6,700 shares during the quarter. Value Holdings Management CO. LLC owned about 0.09% of Tennant worth $1,332,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in shares of Tennant by 85.5% during the fourth quarter. Wells Fargo & Company MN now owns 14,502 shares of the industrial products company's stock valued at $1,182,000 after buying an additional 6,683 shares during the period. Bank of Montreal Can increased its position in shares of Tennant by 5.7% during the fourth quarter. Bank of Montreal Can now owns 3,672 shares of the industrial products company's stock valued at $299,000 after buying an additional 199 shares during the period. Invesco Ltd. increased its position in shares of Tennant by 9.4% during the fourth quarter. Invesco Ltd. now owns 193,421 shares of the industrial products company's stock valued at $15,770,000 after buying an additional 16,695 shares during the period. Renaissance Technologies LLC increased its position in shares of Tennant by 91.4% during the fourth quarter. Renaissance Technologies LLC now owns 93,400 shares of the industrial products company's stock valued at $7,615,000 after buying an additional 44,600 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Tennant during the fourth quarter valued at about $5,830,000. Institutional investors own 93.33% of the company's stock.

Tennant Price Performance

Shares of TNC traded up $3.41 during trading hours on Friday, reaching $84.14. 29,114 shares of the company's stock traded hands, compared to its average volume of 152,930. The stock has a market cap of $1.55 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 1.77 and a beta of 1.06. The company has a current ratio of 2.09, a quick ratio of 1.38 and a debt-to-equity ratio of 0.33. The firm's 50 day simple moving average is $80.45 and its 200-day simple moving average is $78.97. 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 issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 net margin of 4.84% and a return on equity of 16.41%. The business's revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.83 EPS. Equities analysts expect that Tennant Company will post 5.89 EPS for the current year.

Tennant Dividend Announcement

The company also recently disclosed 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 is Friday, August 29th. This represents a $1.18 annualized dividend and a dividend yield of 1.4%. Tennant's dividend payout ratio is 36.76%.

Analysts Set New Price Targets

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