Jane Street Group LLC Increases Stock Holdings in Tennant (NYSE:TNC)

Jane Street Group LLC lifted its stake in shares of Tennant (NYSE:TNC) by 77.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,527 shares of the industrial products company’s stock after buying an additional 13,311 shares during the quarter. Jane Street Group LLC owned about 0.16% of Tennant worth $2,932,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. grew its stake in Tennant by 84.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 527 shares of the industrial products company’s stock worth $51,000 after buying an additional 241 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Tennant during the second quarter worth approximately $58,000. Point72 DIFC Ltd acquired a new position in shares of Tennant in the 2nd quarter valued at $71,000. nVerses Capital LLC purchased a new stake in Tennant in the 3rd quarter valued at $77,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in Tennant by 37.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 972 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 263 shares during the period. Institutional investors and hedge funds own 93.33% of the company’s stock.

Tennant Stock Down 1.7 %

Shares of Tennant stock opened at $80.29 on Friday. The company has a market cap of $1.52 billion, a P/E ratio of 14.16 and a beta of 1.00. The firm has a fifty day moving average of $88.06 and a two-hundred day moving average of $94.05. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 2.17. Tennant has a one year low of $79.71 and a one year high of $124.11.

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

Tennant Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.295 dividend. This is a boost from Tennant’s previous quarterly dividend of $0.28. The ex-dividend date was Friday, November 29th. This represents a $1.18 annualized dividend and a yield of 1.47%. Tennant’s dividend payout ratio is presently 20.81%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. StockNews.com lowered shares of Tennant from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Northcoast Research began coverage on Tennant in a research note on Thursday. They set a “buy” rating and a $125.00 price objective for the company.

About Tennant

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.