Tennant (NYSE:TNC) Stake Lessened by Inspire Investing LLC

Inspire Investing LLC lessened its holdings in Tennant (NYSE:TNC) by 64.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,675 shares of the industrial products company’s stock after selling 6,602 shares during the period. Inspire Investing LLC’s holdings in Tennant were worth $362,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. YHB Investment Advisors Inc. acquired a new stake in Tennant during the 1st quarter worth about $36,000. CWM LLC lifted 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 worth $38,000 after purchasing an additional 288 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Tennant during the second quarter valued at approximately $58,000. Quest Partners LLC purchased a new position in Tennant during the fourth quarter valued at approximately $64,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Tennant in the 1st quarter valued at approximately $86,000. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Analyst Upgrades and Downgrades

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

Tennant Stock Performance

Shares of TNC stock opened at $92.08 on Friday. Tennant has a fifty-two week low of $72.81 and a fifty-two week high of $124.11. The stock’s 50-day moving average is $97.66 and its two-hundred day moving average is $104.55. 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 P/E ratio of 15.30 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 analysts’ consensus estimates of $1.72 by $0.11. The firm had revenue of $331.00 million for the quarter, compared to the consensus estimate of $327.00 million. Tennant had a return on equity of 22.23% and a net margin of 8.76%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.86 earnings per share. Analysts predict that Tennant will post 6.48 earnings per share for the current fiscal year.

Tennant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors 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 presently 18.60%.

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.