Van Lanschot Kempen Investment Management N.V. Invests $13.46 Million in Tennant Company $TNC

Key Points

• Van Lanschot Kempen Investment Management N.V. acquired 168,723 shares of Tennant Company ($TNC) for approximately $13.46 million, representing 0.90% of the company's total shares.
• Tennant reported a quarterly EPS of $1.49, falling short of analysts' estimates of $1.63, with a revenue decline of 3.7% from the previous year.
• The company announced a quarterly dividend of $0.295 per share, with a yield of 1.4%, scheduled for payment on September 15th.

Van Lanschot Kempen Investment Management N.V. bought a new position in Tennant Company (NYSE:TNC - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 168,723 shares of the industrial products company's stock, valued at approximately $13,456,000. Van Lanschot Kempen Investment Management N.V. owned 0.90% of Tennant as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of TNC. Wells Fargo & Company MN raised its holdings in Tennant by 85.5% in the fourth quarter. Wells Fargo & Company MN now owns 14,502 shares of the industrial products company's stock worth $1,182,000 after purchasing an additional 6,683 shares during the period. Bank of Montreal Can raised its holdings 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 worth $299,000 after acquiring an additional 199 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Tennant during the fourth quarter worth $5,830,000. Sterling Capital Management LLC raised its holdings in shares of Tennant by 668.9% during the fourth quarter. Sterling Capital Management LLC now owns 346 shares of the industrial products company's stock worth $28,000 after acquiring an additional 301 shares during the period. Finally, Summit Investment Advisors Inc. raised 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 acquiring an additional 142 shares during the period. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Tennant Stock Up 3.8%

Tennant stock traded up $3.0340 during mid-day trading on Friday, reaching $83.7640. The company's stock had a trading volume of 97,653 shares, compared to its average volume of 110,384. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 1.75 and a beta of 1.06. Tennant Company has a 12 month low of $67.32 and a 12 month high of $98.52. The business's 50 day simple moving average is $80.64 and its 200 day simple moving average is $78.96. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.38 and a current ratio of 2.09.

Tennant (NYSE:TNC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.49 EPS for the quarter, missing analysts' consensus estimates of $1.63 by ($0.14). Tennant had a net margin of 4.84% and a return on equity of 16.41%. The firm had revenue of $318.60 million during the quarter, compared to the consensus estimate of $327.20 million. During the same period last year, the business earned $1.83 EPS. The business's revenue was down 3.7% on a year-over-year basis. As a group, research analysts anticipate that Tennant Company will post 5.89 earnings per share for the current year.

Tennant Announces Dividend

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

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of 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 assigned a Hold rating to the stock. According to MarketBeat.com, Tennant presently has an average rating of "Moderate Buy" and an average target price of $125.00.

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.