Vanguard Group Inc. Increases Holdings in Tennant (NYSE:TNC)

Vanguard Group Inc. boosted its stake in Tennant (NYSE:TNC - Free Report) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,226,496 shares of the industrial products company's stock after purchasing an additional 14,712 shares during the period. Vanguard Group Inc. owned approximately 11.92% of Tennant worth $165,095,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TNC. 1832 Asset Management L.P. grew its stake in shares of Tennant by 69.2% during the second quarter. 1832 Asset Management L.P. now owns 379 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 155 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Tennant by 333.0% during the second quarter. Point72 Asset Management L.P. now owns 433 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 333 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Tennant during the first quarter valued at about $53,000. Advisor Group Holdings Inc. grew its stake in Tennant by 181.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 780 shares of the industrial products company's stock worth $48,000 after purchasing an additional 503 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in Tennant by 82.9% in the first quarter. Captrust Financial Advisors now owns 944 shares of the industrial products company's stock worth $74,000 after purchasing an additional 428 shares in the last quarter. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, CL King initiated coverage on Tennant in a research note on Thursday, December 28th. They issued a "buy" rating and a $112.00 price target for the company.

Tennant Stock Up 1.1 %

NYSE:TNC traded up $1.32 during mid-day trading on Monday, reaching $122.93. The stock had a trading volume of 159,164 shares, compared to its average volume of 145,396. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 21.09 and a beta of 1.10. Tennant has a 1-year low of $64.88 and a 1-year high of $123.51. The stock's 50 day simple moving average is $106.53 and its two-hundred day simple moving average is $91.49. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.08 and a quick ratio of 1.44.

Tennant (NYSE:TNC - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.65. Tennant had a return on equity of 23.07% and a net margin of 8.81%. The business had revenue of $311.40 million during the quarter, compared to the consensus estimate of $309.87 million. During the same period last year, the firm earned $1.46 earnings per share. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts anticipate that Tennant will post 6.44 EPS for the current year.

Tennant Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.12 dividend on an annualized basis and a yield of 0.91%. Tennant's dividend payout ratio is currently 19.21%.

Insiders Place Their Bets

In other Tennant news, SVP Kristin A. Erickson sold 556 shares of the firm's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $110.00, for a total value of $61,160.00. Following the transaction, the senior vice president now owns 10,698 shares of the company's stock, valued at $1,176,780. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Kristin A. Erickson sold 556 shares of Tennant stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $110.00, for a total transaction of $61,160.00. Following the sale, the senior vice president now owns 10,698 shares of the company's stock, valued at $1,176,780. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Carol S. Eicher sold 2,298 shares of Tennant stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $116.45, for a total value of $267,602.10. Following the sale, the director now directly owns 25,540 shares in the company, valued at approximately $2,974,133. The disclosure for this sale can be found here. Insiders have sold 17,597 shares of company stock valued at $1,953,293 over the last quarter. Insiders own 2.40% of the company's stock.

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.