Y Intercept Hong Kong Ltd Acquires 5,636 Shares of Tennant (NYSE:TNC)

Y Intercept Hong Kong Ltd grew its holdings in shares of Tennant (NYSE:TNC) by 59.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,077 shares of the industrial products company’s stock after buying an additional 5,636 shares during the period. Y Intercept Hong Kong Ltd owned approximately 0.08% of Tennant worth $1,448,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in Tennant by 577.3% during the second quarter. Assenagon Asset Management S.A. now owns 128,231 shares of the industrial products company’s stock worth $12,623,000 after acquiring an additional 109,298 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Tennant by 79.8% during the second quarter. American Century Companies Inc. now owns 151,151 shares of the industrial products company’s stock valued at $14,879,000 after purchasing an additional 67,080 shares during the period. Eagle Asset Management Inc. bought a new position in shares of Tennant during the 3rd quarter worth about $3,873,000. Renaissance Technologies LLC grew its stake in shares of Tennant by 1,900.0% in the 2nd quarter. Renaissance Technologies LLC now owns 36,000 shares of the industrial products company’s stock valued at $3,544,000 after buying an additional 34,200 shares during the period. Finally, Acadian Asset Management LLC increased its position in Tennant by 20.3% in the 2nd quarter. Acadian Asset Management LLC now owns 125,782 shares of the industrial products company’s stock valued at $12,377,000 after buying an additional 21,210 shares in the last quarter. Institutional investors and hedge funds own 93.33% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Tennant from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st.

Tennant Stock Performance

NYSE TNC opened at $85.73 on Wednesday. The company has a market cap of $1.62 billion, a P/E ratio of 15.12 and a beta of 1.00. The company has a fifty day simple moving average of $89.57 and a 200 day simple moving average of $95.04. The company has a current ratio of 2.17, a quick ratio of 1.43 and a debt-to-equity ratio of 0.32. Tennant has a 12-month low of $82.54 and a 12-month high of $124.11.

Tennant (NYSE:TNC) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.05). Tennant had a net margin of 8.52% and a return on equity of 21.50%. The business had revenue of $315.80 million for the quarter, compared to analyst estimates of $319.40 million. During the same quarter in the prior year, the business earned $1.34 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. Sell-side analysts predict that Tennant will post 6.43 earnings per share for the current fiscal year.

Tennant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.295 dividend. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Tennant’s previous quarterly dividend of $0.28. This represents a $1.18 annualized dividend and a dividend yield of 1.38%. Tennant’s dividend payout ratio is 20.81%.

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.