Tennant (NYSE:TNC) Stock Holdings Lifted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in shares of Tennant (NYSE:TNC) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 253,119 shares of the industrial products company’s stock after purchasing an additional 3,975 shares during the period. Charles Schwab Investment Management Inc. owned 1.34% of Tennant worth $24,310,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC grew its position in Tennant by 290.9% during the 2nd 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 2nd quarter worth approximately $58,000. DekaBank Deutsche Girozentrale purchased a new position in Tennant during the 1st quarter worth approximately $86,000. Point72 DIFC Ltd purchased a new position in Tennant during the 2nd quarter worth approximately $71,000. Finally, nVerses Capital LLC purchased a new position in Tennant during the 3rd quarter worth approximately $77,000. 93.33% of the stock is currently owned by hedge funds and other institutional investors.

Tennant Trading Down 2.2 %

Tennant stock opened at $85.63 on Friday. The company’s fifty day simple moving average is $90.15 and its 200-day simple moving average is $95.52. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. Tennant has a 12 month low of $82.54 and a 12 month high of $124.11. The stock has a market cap of $1.62 billion, a P/E ratio of 15.10 and a beta of 1.00.

Tennant (NYSE:TNC) last posted its quarterly 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). Tennant had a net margin of 8.52% and a return on equity of 21.50%. The company had revenue of $315.80 million for the quarter, compared to analysts’ expectations of $319.40 million. During the same quarter in the prior year, the firm earned $1.34 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. As a group, sell-side analysts forecast 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 issued a dividend of $0.295 per share. This is a boost from Tennant’s previous quarterly dividend of $0.28. This represents a $1.18 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, November 29th. Tennant’s payout ratio is currently 20.81%.

Analyst Ratings Changes

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

Tennant Company 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.