R Squared Ltd Buys New Position in Tennant (NYSE:TNC)

R Squared Ltd purchased a new position in Tennant (NYSE:TNC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,130 shares of the industrial products company’s stock, valued at approximately $92,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Albert D Mason Inc. increased its stake in shares of Tennant by 1.5% in the 4th quarter. Albert D Mason Inc. now owns 9,811 shares of the industrial products company’s stock worth $800,000 after purchasing an additional 145 shares in the last quarter. Franklin Resources Inc. increased its position in Tennant by 1.3% in the third quarter. Franklin Resources Inc. now owns 12,908 shares of the industrial products company’s stock worth $1,213,000 after buying an additional 169 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Tennant by 0.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 43,451 shares of the industrial products company’s stock worth $4,173,000 after buying an additional 239 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Tennant by 84.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 527 shares of the industrial products company’s stock worth $51,000 after buying an additional 241 shares during the period. Finally, TD Private Client Wealth LLC lifted its position in shares of Tennant by 43.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 839 shares of the industrial products company’s stock valued at $81,000 after buying an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Tennant Price Performance

Shares of Tennant stock opened at $87.10 on Friday. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 15.36 and a beta of 1.01. 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’s 50-day simple moving average is $84.30 and its 200-day simple moving average is $90.99. Tennant has a 52 week low of $78.57 and a 52 week high of $124.11.

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 analysts’ consensus estimates of $1.44 by ($0.05). Tennant had a return on equity of 21.50% and a net margin of 8.52%. The business had revenue of $315.80 million during the quarter, compared to analysts’ expectations of $319.40 million. During the same period in the prior year, the firm posted $1.34 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, analysts expect that Tennant will post 6.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TNC has been the subject of several analyst reports. StockNews.com lowered shares of Tennant from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Northcoast Research assumed coverage on shares of Tennant in a research note on Thursday, December 19th. They issued a “buy” rating and a $125.00 price objective for the company.

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.