Tennant (TNC) Shares Sold by Comerica Bank
Comerica Bank lessened its position in Tennant (NYSE:TNC) by 7.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,560 shares of the industrial products company’s stock after selling 1,513 shares during the quarter. Comerica Bank owned approximately 0.10% of Tennant worth $1,137,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TNC. BlackRock Inc. lifted its stake in shares of Tennant by 8.4% in the 2nd quarter. BlackRock Inc. now owns 2,456,184 shares of the industrial products company’s stock valued at $194,039,000 after purchasing an additional 190,680 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Tennant in the 3rd quarter valued at approximately $5,774,000. WINTON GROUP Ltd purchased a new position in shares of Tennant in the 2nd quarter valued at approximately $3,554,000. Bank of Montreal Can lifted its stake in shares of Tennant by 2,435.8% in the 3rd quarter. Bank of Montreal Can now owns 24,039 shares of the industrial products company’s stock valued at $1,826,000 after purchasing an additional 23,091 shares during the period. Finally, Citadel Advisors LLC lifted its stake in shares of Tennant by 44.3% in the 2nd quarter. Citadel Advisors LLC now owns 73,839 shares of the industrial products company’s stock valued at $5,833,000 after purchasing an additional 22,674 shares during the period. Institutional investors own 86.21% of the company’s stock.
TNC stock opened at $55.55 on Friday. Tennant has a twelve month low of $54.82 and a twelve month high of $86.03. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.84 and a quick ratio of 1.25. The company has a market cap of $1.01 billion, a P/E ratio of 36.07, a P/E/G ratio of 2.64 and a beta of 0.96.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, November 29th. This is a positive change from Tennant’s previous quarterly dividend of $0.21. Tennant’s dividend payout ratio (DPR) is 57.14%.
A number of research firms recently weighed in on TNC. Zacks Investment Research raised Tennant from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Wednesday, October 24th. TheStreet lowered Tennant from a “b” rating to a “c+” rating in a research report on Thursday, October 11th. Finally, ValuEngine lowered Tennant from a “buy” rating to a “hold” rating in a research report on Friday, October 12th.
Tennant Company Profile
Tennant Company designs, manufactures, and markets floor cleaning equipment. It 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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