Rhumbline Advisers Has $4 Million Stock Position in Tennant (NYSE:TNC)
Rhumbline Advisers raised its position in Tennant (NYSE:TNC) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,633 shares of the industrial products company’s stock after acquiring an additional 1,021 shares during the period. Rhumbline Advisers’ holdings in Tennant were worth $4,004,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Pinebridge Investments L.P. raised its holdings in Tennant by 15.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 21,489 shares of the industrial products company’s stock valued at $1,315,000 after acquiring an additional 2,854 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Tennant by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,954,495 shares of the industrial products company’s stock valued at $119,615,000 after purchasing an additional 24,277 shares during the period. Prentiss Smith & Co. Inc. bought a new stake in shares of Tennant in the 2nd quarter valued at approximately $3,268,000. RMB Capital Management LLC bought a new stake in shares of Tennant in the 2nd quarter valued at approximately $502,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Tennant by 109.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,710 shares of the industrial products company’s stock valued at $411,000 after purchasing an additional 3,500 shares during the period. 83.29% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on TNC. Zacks Investment Research lowered Tennant from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. ValuEngine lowered Tennant from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Finally, TheStreet upgraded Tennant from a “c+” rating to a “b” rating in a research note on Wednesday, July 31st.
TNC stock opened at $77.82 on Friday. Tennant has a 1-year low of $48.97 and a 1-year high of $79.63. The firm has a market cap of $1.44 billion, a P/E ratio of 35.70 and a beta of 1.23. The business’s 50 day moving average is $71.20 and its 200-day moving average is $66.27. The company has a current ratio of 1.78, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95.
Tennant (NYSE:TNC) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.18. Tennant had a return on equity of 15.75% and a net margin of 3.77%. The company had revenue of $280.70 million for the quarter, compared to analyst estimates of $285.90 million. During the same period in the prior year, the company posted $0.54 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that Tennant will post 2.83 EPS for the current year.
Tennant Company Profile
Tennant Company designs, manufactures, and markets floor cleaning equipment worldwide. The company offers a suite of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, specialty surface coatings, and asset management solutions.
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