Wakefield Asset Management LLLP bought a new position in Tennant (NYSE:TNC) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 9,668 shares of the industrial products company’s stock, valued at approximately $772,000. Wakefield Asset Management LLLP owned 0.05% of Tennant at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. P2 Capital Partners LLC bought a new position in Tennant in the 1st quarter worth $14,780,000. BlackRock Inc. lifted its position in shares of Tennant by 2.5% during the 1st quarter. BlackRock Inc. now owns 2,887,860 shares of the industrial products company’s stock valued at $230,712,000 after buying an additional 70,606 shares in the last quarter. Crawford Investment Counsel Inc. purchased a new position in shares of Tennant during the 1st quarter valued at about $4,241,000. Walthausen & Co. LLC purchased a new position in shares of Tennant during the 1st quarter valued at about $3,772,000. Finally, Deprince Race & Zollo Inc. lifted its position in shares of Tennant by 11.6% during the 1st quarter. Deprince Race & Zollo Inc. now owns 357,021 shares of the industrial products company’s stock valued at $28,522,000 after buying an additional 37,229 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.
In other news, insider Richard H. Zay sold 1,600 shares of the stock in a transaction on Wednesday, August 18th. The stock was sold at an average price of $72.94, for a total transaction of $116,704.00. Following the transaction, the insider now owns 13,418 shares of the company’s stock, valued at approximately $978,708.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Richard H. Zay sold 3,680 shares of the stock in a transaction on Friday, August 20th. The stock was sold at an average price of $71.95, for a total value of $264,776.00. Following the transaction, the insider now directly owns 15,498 shares in the company, valued at approximately $1,115,081.10. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.
Tennant (NYSE:TNC) last released its earnings results on Monday, August 2nd. The industrial products company reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.21. The firm had revenue of $279.10 million for the quarter, compared to the consensus estimate of $271.35 million. Tennant had a return on equity of 16.99% and a net margin of 4.61%. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS. On average, sell-side analysts predict that Tennant will post 4.41 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Tuesday, August 31st will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.24%. The ex-dividend date is Monday, August 30th. Tennant’s dividend payout ratio (DPR) is presently 31.62%.
Separately, Colliers Securities reissued a “buy” rating on shares of Tennant in a report on Thursday, July 1st.
Tennant Co engages in the design, manufacture, and marketing of cleaning solutions. Its products include equipment for maintaining surfaces in industrial, commercial, and outdoor environments; detergent-free and other sustainable cleaning technologies; cleaning tools and supplies; and coatings for protecting, repairing and upgrading surfaces.
Read More: What is Cost of Goods Sold (COGS)?
Receive News & Ratings for Tennant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tennant and related companies with MarketBeat.com's FREE daily email newsletter.