Virtu Financial LLC Makes New $237,000 Investment in Tennant (NYSE:TNC)

Virtu Financial LLC purchased a new position in Tennant (NYSE:TNC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,560 shares of the industrial products company’s stock, valued at approximately $237,000.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Tennant by 0.7% in the third quarter. Vanguard Group Inc. now owns 2,226,496 shares of the industrial products company’s stock worth $165,095,000 after purchasing an additional 14,712 shares during the period. Dimensional Fund Advisors LP grew its holdings in Tennant by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 612,032 shares of the industrial products company’s stock worth $56,729,000 after purchasing an additional 14,008 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Tennant by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 231,059 shares of the industrial products company’s stock worth $21,417,000 after purchasing an additional 4,102 shares during the period. Norges Bank acquired a new stake in Tennant in the fourth quarter worth $12,193,000. Finally, Invesco Ltd. lifted its stake in shares of Tennant by 57.8% in the third quarter. Invesco Ltd. now owns 115,739 shares of the industrial products company’s stock valued at $8,582,000 after buying an additional 42,407 shares in the last quarter. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Tennant Stock Up 1.6 %

TNC opened at $98.57 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.15 and a quick ratio of 1.46. The company’s 50-day moving average is $106.00 and its 200 day moving average is $103.16. Tennant has a fifty-two week low of $72.81 and a fifty-two week high of $124.11. The firm has a market capitalization of $1.87 billion, a P/E ratio of 16.37 and a beta of 1.03.

Tennant (NYSE:TNC) last released its quarterly earnings results on Friday, May 3rd. The industrial products company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.36. Tennant had a net margin of 9.10% and a return on equity of 23.16%. The company had revenue of $311.00 million for the quarter, compared to analyst estimates of $314.10 million. Research analysts expect that Tennant will post 6.56 earnings per share for the current fiscal year.

Tennant Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.12 dividend on an annualized basis and a yield of 1.14%. Tennant’s dividend payout ratio (DPR) is presently 18.60%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Tennant from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 15th.

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.