Tennant Company (TNC) Shares Bought by Los Angeles Capital Management & Equity Research Inc.
Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Tennant Company (NYSE:TNC) by 55.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,047 shares of the industrial products company’s stock after purchasing an additional 6,426 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.10% of Tennant worth $1,195,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in TNC. Ameritas Investment Partners Inc. raised its stake in shares of Tennant by 9.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,548 shares of the industrial products company’s stock valued at $114,000 after buying an additional 128 shares in the last quarter. Flinton Capital Management LLC raised its stake in shares of Tennant by 85.7% in the 2nd quarter. Flinton Capital Management LLC now owns 1,768 shares of the industrial products company’s stock valued at $130,000 after buying an additional 816 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of Tennant by 86.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,865 shares of the industrial products company’s stock valued at $138,000 after buying an additional 865 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Tennant by 17.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,546 shares of the industrial products company’s stock valued at $188,000 after buying an additional 380 shares in the last quarter. Finally, OxFORD Asset Management LLP acquired a new position in shares of Tennant in the 2nd quarter valued at $206,000. Hedge funds and other institutional investors own 91.61% of the company’s stock.
Tennant Company (TNC) traded up $0.25 on Tuesday, hitting $62.95. 252,700 shares of the stock traded hands, compared to its average volume of 80,234. The company has a current ratio of 2.09, a quick ratio of 1.39 and a debt-to-equity ratio of 1.29. Tennant Company has a fifty-two week low of $60.05 and a fifty-two week high of $76.80. The company has a market cap of $1,140.00, a price-to-earnings ratio of 30.14, a price-to-earnings-growth ratio of 3.36 and a beta of 1.06.
Tennant (NYSE:TNC) last posted its earnings results on Thursday, November 2nd. The industrial products company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.29). Tennant had a return on equity of 13.07% and a net margin of 1.32%. The firm had revenue of $261.92 million during the quarter, compared to the consensus estimate of $252.13 million. During the same period in the previous year, the company posted $0.64 EPS. The firm’s revenue for the quarter was up 30.9% compared to the same quarter last year. sell-side analysts predict that Tennant Company will post 1.56 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Wednesday, November 29th. Tennant’s payout ratio is 123.53%.
A number of equities analysts have recently issued reports on TNC shares. Zacks Investment Research cut shares of Tennant from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 9th. BidaskClub lowered shares of Tennant from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Dougherty & Co reaffirmed a “neutral” rating on shares of Tennant in a report on Sunday, November 12th. Finally, TheStreet lowered shares of Tennant from a “b-” rating to a “c+” rating in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $65.00.
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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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