SFE Investment Counsel Sells 403 Shares of Tennant (NYSE:TNC)

SFE Investment Counsel trimmed its position in Tennant (NYSE:TNC) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,929 shares of the industrial products company’s stock after selling 403 shares during the quarter. SFE Investment Counsel’s holdings in Tennant were worth $1,863,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of TNC. Global Retirement Partners LLC raised its stake in Tennant by 1,272.2% in the first quarter. Global Retirement Partners LLC now owns 247 shares of the industrial products company’s stock valued at $30,000 after buying an additional 229 shares during the period. YHB Investment Advisors Inc. bought a new position in shares of Tennant during the 1st quarter worth approximately $36,000. CWM LLC increased its holdings in shares of Tennant by 290.9% during the 2nd quarter. CWM LLC now owns 387 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 288 shares during the last quarter. Quest Partners LLC bought a new stake in Tennant in the 4th quarter valued at $64,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Tennant during the 1st quarter valued at $86,000. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Tennant Trading Down 1.0 %

Shares of NYSE:TNC opened at $91.48 on Friday. Tennant has a 12-month low of $72.81 and a 12-month high of $124.11. The business has a 50 day moving average of $99.10 and a 200-day moving average of $105.77. The company has a quick ratio of 1.46, a current ratio of 2.17 and a debt-to-equity ratio of 0.33. The stock has a market cap of $1.73 billion, a PE ratio of 15.20 and a beta of 1.00.

Tennant (NYSE:TNC) last released its quarterly earnings results on Thursday, August 8th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.11. Tennant had a return on equity of 22.23% and a net margin of 8.76%. The business had revenue of $331.00 million during the quarter, compared to the consensus estimate of $327.00 million. During the same period in the previous year, the company posted $1.86 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Tennant will post 6.48 earnings per share for the current year.

Tennant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Friday, August 30th. Tennant’s dividend payout ratio is 18.60%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Tennant from a “buy” rating to a “strong-buy” rating in a report on Thursday.

About Tennant

Tennant Company, together with its subsidiaries, designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers a suite of products, including floor maintenance and cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, and asset management solutions.