Engineers Gate Manager LP Buys New Holdings in Tennant (TNC)
Engineers Gate Manager LP acquired a new position in shares of Tennant (NYSE:TNC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 13,456 shares of the industrial products company’s stock, valued at approximately $891,000. Engineers Gate Manager LP owned 0.08% of Tennant as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ameritas Investment Partners Inc. grew its stake in Tennant by 9.0% during the second quarter. Ameritas Investment Partners Inc. now owns 1,548 shares of the industrial products company’s stock worth $114,000 after buying an additional 128 shares during the period. Flinton Capital Management LLC grew its stake in Tennant by 85.7% during the second quarter. Flinton Capital Management LLC now owns 1,768 shares of the industrial products company’s stock worth $130,000 after buying an additional 816 shares during the period. Riverhead Capital Management LLC grew its stake in Tennant by 86.5% during the second quarter. Riverhead Capital Management LLC now owns 1,865 shares of the industrial products company’s stock worth $138,000 after buying an additional 865 shares during the period. Quantbot Technologies LP grew its stake in Tennant by 1,013.0% during the third quarter. Quantbot Technologies LP now owns 2,226 shares of the industrial products company’s stock worth $147,000 after buying an additional 2,026 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Tennant by 17.5% during the second quarter. Victory Capital Management Inc. now owns 2,546 shares of the industrial products company’s stock worth $188,000 after buying an additional 380 shares during the period. Institutional investors own 91.61% of the company’s stock.
Tennant (TNC) traded up $0.25 on Thursday, reaching $62.30. 143,500 shares of the company’s stock traded hands, compared to its average volume of 80,774. 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 has a 12 month low of $60.05 and a 12 month high of $76.80. The stock has a market capitalization of $1,107.69, a P/E ratio of 29.83, a P/E/G ratio of 3.33 and a beta of 1.03.
Tennant (NYSE:TNC) last released its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing the 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 business had revenue of $261.92 million for the quarter, compared to analysts’ expectations of $252.13 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share. Tennant’s quarterly revenue was up 30.9% compared to the same quarter last year. equities research analysts anticipate that Tennant will post 1.56 EPS for the current 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 given a dividend of $0.21 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.35%. Tennant’s payout ratio is currently 123.53%.
TNC has been the subject of several research reports. Zacks Investment Research upgraded shares of Tennant from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Dougherty & Co reiterated a “neutral” rating on shares of Tennant in a research note on Sunday, November 12th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Tennant presently has a consensus rating of “Hold” and an average price target of $65.00.
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.
Want to see what other hedge funds are holding TNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tennant (NYSE:TNC).
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.