Creative Planning Has $290,000 Position in Tennant (NYSE:TNC)

Creative Planning cut its stake in shares of Tennant (NYSE:TNC) by 12.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,943 shares of the industrial products company’s stock after selling 401 shares during the quarter. Creative Planning’s holdings in Tennant were worth $290,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of TNC. The Manufacturers Life Insurance Company grew its stake in Tennant by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 10,451 shares of the industrial products company’s stock valued at $1,029,000 after acquiring an additional 702 shares during the period. Point72 DIFC Ltd bought a new position in shares of Tennant in the 2nd quarter worth $71,000. Public Sector Pension Investment Board grew its position in Tennant by 9.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 41,831 shares of the industrial products company’s stock valued at $4,118,000 after purchasing an additional 3,542 shares during the period. Sei Investments Co. increased its stake in Tennant by 6.0% during the 2nd quarter. Sei Investments Co. now owns 43,602 shares of the industrial products company’s stock valued at $4,292,000 after purchasing an additional 2,478 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Tennant by 1,900.0% during the second quarter. Renaissance Technologies LLC now owns 36,000 shares of the industrial products company’s stock worth $3,544,000 after buying an additional 34,200 shares during the last quarter. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Tennant Trading Down 1.2 %

Shares of TNC opened at $93.33 on Friday. The firm has a market cap of $1.76 billion, a P/E ratio of 16.12 and a beta of 1.00. Tennant has a fifty-two week low of $72.81 and a fifty-two week high of $124.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.46 and a current ratio of 2.17. The business has a 50-day moving average of $93.74 and a 200 day moving average of $101.52.

Tennant (NYSE:TNC) last announced its quarterly earnings results on Thursday, August 8th. The industrial products company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.11. Tennant had a return on equity of 22.23% and a net margin of 8.76%. The company had revenue of $331.00 million during the quarter, compared to analysts’ expectations of $327.00 million. During the same period in the previous year, the business earned $1.86 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, research analysts forecast that Tennant will post 6.48 EPS for the current year.

Tennant Announces Dividend

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

Analyst Ratings Changes

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.