Mutual of America Capital Management LLC Sells 281 Shares of Tennant (NYSE:TNC)

Mutual of America Capital Management LLC decreased its stake in shares of Tennant (NYSE:TNC) by 9.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,844 shares of the industrial products company’s stock after selling 281 shares during the period. Mutual of America Capital Management LLC’s holdings in Tennant were worth $273,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in TNC. CWM LLC boosted its position in shares of Tennant by 290.9% in the second quarter. CWM LLC now owns 387 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 288 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Tennant during the second quarter worth about $58,000. Point72 DIFC Ltd acquired a new position in shares of Tennant in the 2nd quarter valued at approximately $71,000. nVerses Capital LLC acquired a new stake in shares of Tennant during the 3rd quarter worth approximately $77,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Tennant during the first quarter valued at approximately $86,000. Institutional investors own 93.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Tennant from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st.

Tennant Trading Down 0.4 %

Shares of TNC stock opened at $88.29 on Friday. Tennant has a twelve month low of $82.54 and a twelve month high of $124.11. The stock’s fifty day simple moving average is $90.80 and its 200 day simple moving average is $96.13. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.67 billion, a P/E ratio of 15.57 and a beta of 1.00.

Tennant (NYSE:TNC) last posted its earnings results on Thursday, October 31st. The industrial products company reported $1.39 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.05). The business had revenue of $315.80 million for the quarter, compared to analyst estimates of $319.40 million. Tennant had a return on equity of 21.50% and a net margin of 8.52%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.34 earnings per share. As a group, sell-side analysts predict that Tennant will post 6.43 EPS for the current fiscal year.

Tennant Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.295 dividend. This is a boost from Tennant’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, November 29th. This represents a $1.18 annualized dividend and a dividend yield of 1.34%. Tennant’s dividend payout ratio is presently 20.81%.

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.