Tennant (NYSE:TNC) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. decreased its holdings in Tennant (NYSE:TNC) by 84.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 286 shares of the industrial products company’s stock after selling 1,575 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Tennant were worth $28,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TNC. Norges Bank acquired a new stake in shares of Tennant during the fourth quarter valued at about $12,193,000. Hsbc Holdings PLC raised its stake in shares of Tennant by 45.3% during the fourth quarter. Hsbc Holdings PLC now owns 11,633 shares of the industrial products company’s stock worth $1,075,000 after purchasing an additional 3,629 shares during the last quarter. Allianz Asset Management GmbH purchased a new position in Tennant in the 4th quarter valued at $4,930,000. Annex Advisory Services LLC raised its position in Tennant by 36.0% during the 4th quarter. Annex Advisory Services LLC now owns 5,168 shares of the industrial products company’s stock worth $479,000 after buying an additional 1,368 shares during the last quarter. Finally, Quadrature Capital Ltd boosted its holdings in shares of Tennant by 94.2% in the fourth quarter. Quadrature Capital Ltd now owns 35,725 shares of the industrial products company’s stock valued at $3,311,000 after acquiring an additional 17,329 shares in the last quarter. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Tennant Stock Down 2.3 %

TNC stock opened at $93.82 on Wednesday. The company has a current ratio of 2.17, a quick ratio of 1.46 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $96.29 and its 200 day moving average price is $103.84. Tennant has a 52 week low of $72.81 and a 52 week high of $124.11. The company has a market cap of $1.77 billion, a P/E ratio of 15.58 and a beta of 1.00.

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

Tennant Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.28 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.12 annualized dividend and a dividend yield of 1.19%. Tennant’s dividend payout ratio is presently 18.60%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Tennant from a “buy” rating to a “strong-buy” rating in a research 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.