Swiss National Bank increased its position in shares of Tennant Company (NYSE:TNC) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,300 shares of the industrial products company’s stock after acquiring an additional 1,900 shares during the quarter. Swiss National Bank owned about 0.17% of Tennant worth $2,162,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TNC. First Trust Advisors LP boosted its stake in Tennant by 82.1% during the 1st quarter. First Trust Advisors LP now owns 11,853 shares of the industrial products company’s stock worth $861,000 after acquiring an additional 5,345 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Tennant by 8.0% during the 1st quarter. Bank of New York Mellon Corp now owns 252,687 shares of the industrial products company’s stock worth $18,357,000 after acquiring an additional 18,632 shares during the last quarter. Comerica Bank boosted its stake in Tennant by 4.6% during the 1st quarter. Comerica Bank now owns 19,685 shares of the industrial products company’s stock worth $1,469,000 after acquiring an additional 864 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in Tennant by 30.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 5,583 shares of the industrial products company’s stock worth $406,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Karp Capital Management Corp bought a new position in Tennant during the 1st quarter worth approximately $658,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

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Several research analysts recently weighed in on TNC shares. BidaskClub lowered shares of Tennant from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Zacks Investment Research raised shares of Tennant from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Finally, TheStreet lowered shares of Tennant from a “b-” rating to a “c+” rating in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. Tennant has an average rating of “Hold” and an average target price of $65.00.

Tennant Company (NYSE TNC) opened at 68.70 on Thursday. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 60.37 and a beta of 1.13. The firm has a 50-day moving average of $62.91 and a 200-day moving average of $69.83. Tennant Company has a 52 week low of $60.05 and a 52 week high of $76.80.

Tennant (NYSE:TNC) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.19). The business had revenue of $270.79 million for the quarter, compared to the consensus estimate of $268.32 million. Tennant had a return on equity of 15.39% and a net margin of 2.32%. Tennant’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.85 earnings per share. Equities analysts forecast that Tennant Company will post $2.28 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Tuesday, August 29th. Tennant’s payout ratio is 75.00%.

Tennant Company Profile

Tennant Company is engaged in designing, manufacturing and marketing of cleaning solutions. The Company’s segments are Americas; Europe, Middle East, Africa, and Asia Pacific. The Company offers a range of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, specialty surface coatings and asset management solutions.

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Institutional Ownership by Quarter for Tennant (NYSE:TNC)

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