Linden Thomas Advisory Services LLC Acquires New Shares in Tennant Company $TNC

Linden Thomas Advisory Services LLC purchased a new stake in Tennant Company (NYSE:TNC) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 3,240 shares of the industrial products company’s stock, valued at approximately $251,000.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Tennant by 429.0% in the 1st quarter. GAMMA Investing LLC now owns 492 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 399 shares during the period. Banque Transatlantique SA bought a new position in Tennant in the 1st quarter valued at $59,000. Alta Fox Capital Management LLC bought a new position in Tennant in the 1st quarter valued at $73,000. CWM LLC boosted its holdings in Tennant by 137.0% in the 1st quarter. CWM LLC now owns 1,519 shares of the industrial products company’s stock valued at $121,000 after purchasing an additional 878 shares during the period. Finally, AlphaQuest LLC boosted its holdings in Tennant by 108,150.0% in the 2nd quarter. AlphaQuest LLC now owns 2,165 shares of the industrial products company’s stock valued at $168,000 after purchasing an additional 2,163 shares during the period. 93.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on TNC shares. Weiss Ratings reissued a “hold (c)” rating on shares of Tennant in a report on Tuesday, October 14th. Roth Capital assumed coverage on shares of Tennant in a report on Friday. They set a “buy” rating and a $102.00 price objective for the company. Wall Street Zen raised shares of Tennant from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Finally, Zacks Research raised shares of Tennant to a “hold” rating in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Tennant presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.50.

Tennant Price Performance

Shares of NYSE:TNC opened at $81.66 on Tuesday. The stock has a market cap of $1.51 billion, a PE ratio of 25.44, a PEG ratio of 1.77 and a beta of 1.06. The company’s fifty day moving average is $81.37 and its 200 day moving average is $78.37. Tennant Company has a 52 week low of $67.32 and a 52 week high of $94.86. The company has a quick ratio of 1.38, a current ratio of 2.09 and a debt-to-equity ratio of 0.33.

Tennant (NYSE:TNC) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.14). The business had revenue of $318.60 million during the quarter, compared to analysts’ expectations of $327.20 million. Tennant had a return on equity of 16.41% and a net margin of 4.84%.Tennant’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.83 EPS. Research analysts anticipate that Tennant Company will post 5.89 earnings per share for the current year.

Tennant Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, August 29th. Tennant’s dividend payout ratio (DPR) is presently 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.