Inspire Investing LLC Buys 589 Shares of Tennant (NYSE:TNC)

Inspire Investing LLC boosted its position in shares of Tennant (NYSE:TNC) by 13.4% during the 4th quarter, HoldingsChannel reports. The fund owned 4,984 shares of the industrial products company’s stock after buying an additional 589 shares during the quarter. Inspire Investing LLC’s holdings in Tennant were worth $406,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its holdings in shares of Tennant by 82.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 233,550 shares of the industrial products company’s stock worth $22,430,000 after purchasing an additional 105,319 shares in the last quarter. Eagle Asset Management Inc. bought a new position in Tennant in the third quarter worth $3,873,000. Renaissance Technologies LLC boosted its stake in Tennant by 1,900.0% during the second quarter. Renaissance Technologies LLC now owns 36,000 shares of the industrial products company’s stock worth $3,544,000 after buying an additional 34,200 shares in the last quarter. Barclays PLC increased its holdings in Tennant by 222.8% in the 3rd quarter. Barclays PLC now owns 40,151 shares of the industrial products company’s stock valued at $3,857,000 after buying an additional 27,712 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Tennant by 93.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 48,647 shares of the industrial products company’s stock valued at $4,672,000 after buying an additional 23,460 shares in the last quarter. Institutional investors and hedge funds own 93.33% of the company’s stock.

Tennant Stock Performance

Tennant stock opened at $86.48 on Friday. Tennant has a 52-week low of $78.57 and a 52-week high of $124.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.43. The stock has a fifty day moving average price of $84.29 and a two-hundred day moving average price of $91.29. The firm has a market capitalization of $1.63 billion, a P/E ratio of 15.25 and a beta of 1.01.

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

Tennant Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.295 per share. The ex-dividend date of this dividend was Friday, November 29th. This is a positive change from Tennant’s previous quarterly dividend of $0.28. This represents a $1.18 dividend on an annualized basis and a yield of 1.36%. Tennant’s dividend payout ratio is 20.81%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TNC shares. Northcoast Research started coverage on shares of Tennant in a research report on Thursday, December 19th. They set a “buy” rating and a $125.00 target price on the stock. StockNews.com lowered Tennant from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st.

Tennant Profile

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.