Tennant (NYSE:TNC) Shares Sold by Kopion Asset Management LLC

Kopion Asset Management LLC lessened its position in Tennant (NYSE:TNC) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,402 shares of the industrial products company’s stock after selling 646 shares during the quarter. Tennant comprises 1.9% of Kopion Asset Management LLC’s holdings, making the stock its 19th largest position. Kopion Asset Management LLC’s holdings in Tennant were worth $2,642,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its position in Tennant by 82.1% during the third quarter. Assenagon Asset Management S.A. now owns 233,550 shares of the industrial products company’s stock worth $22,430,000 after acquiring an additional 105,319 shares during the last quarter. American Century Companies Inc. lifted its stake in Tennant by 79.8% in 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 in the last quarter. Eagle Asset Management Inc. purchased a new stake in shares of Tennant in the third quarter valued at approximately $3,873,000. Renaissance Technologies LLC boosted its stake 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. Finally, Barclays PLC increased its stake in shares of Tennant by 222.8% in the 3rd quarter. Barclays PLC now owns 40,151 shares of the industrial products company’s stock worth $3,857,000 after acquiring an additional 27,712 shares during the last quarter. 93.33% of the stock is owned by institutional investors and hedge funds.

Tennant Trading Up 1.6 %

NYSE TNC traded up $1.33 on Wednesday, reaching $84.63. The stock had a trading volume of 3,461 shares, compared to its average volume of 159,369. Tennant has a 12-month low of $78.57 and a 12-month high of $124.11. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average price of $84.95 and a two-hundred day moving average price of $91.95. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 14.93 and a beta of 1.01.

Tennant (NYSE:TNC) last issued 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 business had revenue of $315.80 million for the quarter, compared to analyst estimates of $319.40 million. Tennant had a return on equity of 21.50% and a net margin of 8.52%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.34 EPS. 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 announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.295 dividend. The ex-dividend date of this dividend was Friday, November 29th. This is a positive change from Tennant’s previous quarterly dividend of $0.28. This represents a $1.18 dividend on an annualized basis and a yield of 1.39%. Tennant’s dividend payout ratio (DPR) is 20.81%.

Analyst Ratings Changes

A number of equities analysts have commented on TNC shares. Northcoast Research assumed coverage on shares of Tennant in a research note on Thursday, December 19th. They set a “buy” rating and a $125.00 target price on the stock. StockNews.com lowered 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.