Tennant Company $TNC is Vision One Management Partners LP’s 6th Largest Position

Vision One Management Partners LP grew its holdings in Tennant Company (NYSE:TNC) by 27.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 144,773 shares of the industrial products company’s stock after buying an additional 31,169 shares during the period. Tennant makes up 6.7% of Vision One Management Partners LP’s portfolio, making the stock its 6th largest holding. Vision One Management Partners LP owned approximately 0.78% of Tennant worth $11,546,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TNC. GAMMA Investing LLC grew its stake in shares of Tennant by 429.0% in the 1st quarter. GAMMA Investing LLC now owns 492 shares of the industrial products company’s stock worth $39,000 after buying an additional 399 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Tennant by 194.8% during the 1st quarter. Farther Finance Advisors LLC now owns 619 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 409 shares during the period. CWM LLC boosted its stake in shares of Tennant by 137.0% during the 1st quarter. CWM LLC now owns 1,519 shares of the industrial products company’s stock worth $121,000 after purchasing an additional 878 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Tennant by 18.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,060 shares of the industrial products company’s stock worth $249,000 after purchasing an additional 469 shares during the period. Finally, Turtle Creek Asset Management Inc. purchased a new position in shares of Tennant during the 4th quarter worth about $261,000. 93.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Tennant to a “hold” rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $125.00.

Tennant Trading Down 1.1%

NYSE:TNC opened at $82.07 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.38 and a current ratio of 2.09. The firm has a market cap of $1.52 billion, a P/E ratio of 25.57, a P/E/G ratio of 1.78 and a beta of 1.09. The firm has a 50-day simple moving average of $81.46 and a 200-day simple moving average of $78.71. Tennant Company has a one year low of $67.32 and a one year high of $98.52.

Tennant (NYSE:TNC) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.14). The firm had revenue of $318.60 million for the quarter, compared to the consensus estimate of $327.20 million. Tennant had a return on equity of 16.41% and a net margin of 4.84%.The company’s revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.83 EPS. Equities analysts anticipate that Tennant Company will post 5.89 EPS for the current fiscal year.

Tennant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 29th. Tennant’s dividend payout ratio is 36.76%.

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.