Tennant (NYSE:TNC) Position Increased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its position in shares of Tennant (NYSE:TNC) by 0.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 680,992 shares of the industrial products company’s stock after purchasing an additional 655 shares during the period. Thrivent Financial for Lutherans owned 3.60% of Tennant worth $67,037,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Tennant in the 4th quarter valued at approximately $12,193,000. Assenagon Asset Management S.A. grew its position in Tennant by 577.3% in the second quarter. Assenagon Asset Management S.A. now owns 128,231 shares of the industrial products company’s stock worth $12,623,000 after acquiring an additional 109,298 shares in the last quarter. Jacobson & Schmitt Advisors LLC bought a new stake in Tennant in the first quarter worth approximately $12,380,000. American Century Companies Inc. increased its stake in shares of Tennant by 79.8% during the 2nd quarter. American Century Companies Inc. now owns 151,151 shares of the industrial products company’s stock worth $14,879,000 after purchasing an additional 67,080 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new position in shares of Tennant during the 4th quarter valued at $4,930,000. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Tennant Trading Down 1.9 %

Shares of TNC stock opened at $92.08 on Friday. Tennant has a 12 month low of $72.81 and a 12 month high of $124.11. The company has a market cap of $1.75 billion, a PE ratio of 15.30 and a beta of 1.00. 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 business’s 50 day moving average is $97.66 and its two-hundred day moving average is $104.55.

Tennant (NYSE:TNC) last released its earnings results on Thursday, August 8th. The industrial products company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.11. The firm had revenue of $331.00 million during 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 was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.86 EPS. Equities analysts predict that Tennant will post 6.48 EPS for the current year.

Tennant Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.22%. The ex-dividend date was Friday, August 30th. Tennant’s dividend payout ratio is currently 18.60%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised 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.