Public Employees Retirement Association of Colorado held its position in Tennant Company (NYSE:TNC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,213 shares of the industrial products company’s stock at the end of the second quarter. Public Employees Retirement Association of Colorado’s holdings in Tennant were worth $311,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in TNC. Russell Investments Group Ltd. acquired a new position in shares of Tennant during the second quarter valued at $369,000. Aperio Group LLC raised its position in shares of Tennant by 14.2% in the second quarter. Aperio Group LLC now owns 10,339 shares of the industrial products company’s stock valued at $763,000 after buying an additional 1,283 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Tennant by 1.4% in the second quarter. Louisiana State Employees Retirement System now owns 7,300 shares of the industrial products company’s stock valued at $539,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Tennant by 79.5% in the second quarter. State of Alaska Department of Revenue now owns 3,500 shares of the industrial products company’s stock valued at $258,000 after buying an additional 1,550 shares in the last quarter. Finally, Copper Rock Capital Partners LLC acquired a new position in shares of Tennant during the second quarter valued at $18,979,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

Shares of Tennant Company (NYSE TNC) opened at 61.05 on Wednesday. The firm’s 50-day moving average price is $69.33 and its 200 day moving average price is $71.42. Tennant Company has a 1-year low of $60.10 and a 1-year high of $76.80. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 53.65 and a beta of 1.07.

Tennant (NYSE:TNC) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.79 by $0.19. Tennant had a net margin of 2.32% and a return on equity of 15.39%. The firm had revenue of $270.79 million for the quarter, compared to analyst estimates of $268.32 million. During the same quarter in the prior year, the firm earned $0.85 EPS. The firm’s revenue was up 24.9% compared to the same quarter last year. Equities research analysts expect that Tennant Company will post $2.28 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.84 annualized dividend and a yield of 1.38%. Tennant’s dividend payout ratio is presently 75.00%.

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Several equities analysts recently weighed in on the company. BidaskClub upgraded Tennant from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. Zacks Investment Research lowered Tennant from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, TheStreet lowered Tennant from a “b-” rating to a “c+” rating in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and an average target price of $65.00.

In other Tennant news, CFO Thomas Paulson sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $73.95, for a total value of $554,625.00. Following the completion of the sale, the chief financial officer now directly owns 31,755 shares of the company’s stock, valued at $2,348,282.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard H. Zay sold 1,280 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $73.00, for a total transaction of $93,440.00. Following the completion of the sale, the senior vice president now directly owns 15,423 shares of the company’s stock, valued at $1,125,879. The disclosure for this sale can be found here. 5.70% of the stock is currently owned by corporate insiders.

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.

Institutional Ownership by Quarter for Tennant (NYSE:TNC)

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