Tennant (NYSE:TNC) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. grew its holdings in Tennant (NYSE:TNC) by 79.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 151,151 shares of the industrial products company’s stock after buying an additional 67,080 shares during the period. American Century Companies Inc. owned 0.80% of Tennant worth $14,879,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Tennant by 1.8% in the first quarter. Vanguard Group Inc. now owns 2,291,226 shares of the industrial products company’s stock valued at $278,636,000 after purchasing an additional 40,711 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Tennant by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 612,032 shares of the industrial products company’s stock valued at $56,729,000 after purchasing an additional 14,008 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 valued at $21,417,000 after purchasing an additional 4,102 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Tennant by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 193,384 shares of the industrial products company’s stock valued at $19,037,000 after purchasing an additional 4,128 shares during the period. Finally, Norges Bank purchased a new stake in shares of Tennant in the fourth quarter valued at about $12,193,000. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Tennant Trading Down 1.9 %

Shares of TNC stock opened at $92.08 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.17 and a quick ratio of 1.46. The firm has a market cap of $1.75 billion, a PE ratio of 15.30 and a beta of 1.00. The company has a 50-day moving average of $97.66 and a two-hundred day moving average of $104.55. Tennant has a 1-year low of $72.81 and a 1-year high of $124.11.

Tennant (NYSE:TNC) last posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.72 by $0.11. Tennant had a net margin of 8.76% and a return on equity of 22.23%. The business had revenue of $331.00 million during the quarter, compared to analyst estimates of $327.00 million. During the same quarter last year, the firm posted $1.86 earnings per share. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts predict that Tennant will post 6.48 EPS for the current year.

Tennant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Friday, August 30th. Tennant’s payout ratio is 18.60%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Tennant from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 5th.

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.