Tennant Co. (TNC) To Go Ex-Dividend on November 28th
Tennant Co. (NYSE:TNC) announced a quarterly dividend on Tuesday, November 1st. Investors of record on Wednesday, November 30th will be given a dividend of 0.21 per share on Thursday, December 15th. This represents a $0.84 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Monday, November 28th. This is an increase from Tennant’s previous quarterly dividend of $0.20.
Shares of Tennant (NYSE:TNC) opened at 76.50 on Friday. The company has a 50 day moving average of $66.26 and a 200 day moving average of $60.87. The firm has a market capitalization of $1.35 billion, a PE ratio of 30.86 and a beta of 0.92. Tennant has a 52-week low of $45.92 and a 52-week high of $76.50.
Tennant (NYSE:TNC) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. Tennant had a net margin of 5.54% and a return on equity of 17.78%. The firm had revenue of $200.10 million for the quarter, compared to analysts’ expectations of $203.15 million. During the same period in the previous year, the business earned $0.68 earnings per share. Tennant’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts anticipate that Tennant will post $2.50 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of TNC. Barclays PLC increased its stake in Tennant by 1,114.5% in the second quarter. Barclays PLC now owns 2,004 shares of the company’s stock valued at $108,000 after buying an additional 1,839 shares during the last quarter. BlackRock Inc. increased its stake in Tennant by 10.3% in the third quarter. BlackRock Inc. now owns 1,907 shares of the company’s stock valued at $124,000 after buying an additional 178 shares during the last quarter. AQR Capital Management LLC bought a new stake in Tennant during the second quarter valued at about $203,000. Citadel Advisors LLC bought a new stake in Tennant during the second quarter valued at about $373,000. Finally, BlackRock Advisors LLC increased its stake in Tennant by 0.4% in the second quarter. BlackRock Advisors LLC now owns 8,327 shares of the company’s stock valued at $449,000 after buying an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 86.44% of the company’s stock.
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Separately, Zacks Investment Research cut shares of Tennant from a “buy” rating to a “hold” rating in a research report on Thursday, September 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $33.61.
Tennant Company (Tennant) is engaged in designing, manufacturing and marketing cleaning solutions. The Company is organized into four operating segments: North America; Latin America; Europe, Middle East, Africa, and Asia Pacific. The Company offers products and solutions consisting of mechanized cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, specialty surface coatings, and business solutions, such as financing, rental and leasing programs, and machine-to-machine asset management solutions.
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