nVerses Capital LLC Acquires Shares of 800 Tennant (NYSE:TNC)

nVerses Capital LLC acquired a new stake in Tennant (NYSE:TNC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 800 shares of the industrial products company’s stock, valued at approximately $77,000.

Other institutional investors also recently bought and sold shares of the company. Inspire Investing LLC boosted its position in shares of Tennant by 141.5% during the 1st quarter. Inspire Investing LLC now owns 10,277 shares of the industrial products company’s stock worth $1,250,000 after purchasing an additional 6,021 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Tennant by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 2,291,226 shares of the industrial products company’s stock worth $278,636,000 after purchasing an additional 40,711 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Tennant by 98.0% during the 2nd quarter. Victory Capital Management Inc. now owns 22,290 shares of the industrial products company’s stock worth $2,194,000 after purchasing an additional 11,034 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Tennant by 129.3% during the 2nd quarter. TD Asset Management Inc now owns 13,300 shares of the industrial products company’s stock worth $1,309,000 after purchasing an additional 7,500 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Tennant by 6.8% during the 1st quarter. Acadian Asset Management LLC now owns 104,572 shares of the industrial products company’s stock worth $12,712,000 after purchasing an additional 6,644 shares in the last quarter. 93.33% of the stock is owned by institutional investors and hedge funds.

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 Price Performance

Tennant stock opened at $93.20 on Monday. Tennant has a 52 week low of $72.81 and a 52 week high of $124.11. The company has a quick ratio of 1.46, a current ratio of 2.17 and a debt-to-equity ratio of 0.33. The firm’s 50-day simple moving average is $93.74 and its 200 day simple moving average is $101.23. The firm has a market capitalization of $1.76 billion, a PE ratio of 16.10 and a beta of 1.00.

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

Tennant Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.12 dividend on an annualized basis and a yield of 1.20%. Tennant’s dividend payout ratio (DPR) is 19.34%.

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.