Isthmus Partners LLC Sells 202 Shares of Tennant Company (TNC)
Isthmus Partners LLC reduced its stake in Tennant Company (NYSE:TNC) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,159 shares of the industrial products company’s stock after selling 202 shares during the quarter. Isthmus Partners LLC owned about 0.10% of Tennant worth $1,266,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of TNC. Ameritas Investment Partners Inc. purchased a new stake in shares of Tennant in the first quarter valued at $103,000. Riverhead Capital Management LLC lifted its position in shares of Tennant by 86.5% in the second quarter. Riverhead Capital Management LLC now owns 1,865 shares of the industrial products company’s stock valued at $138,000 after acquiring an additional 865 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Tennant in the first quarter valued at $157,000. State of Alaska Department of Revenue lifted 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 acquiring an additional 1,550 shares in the last quarter. Finally, Mason Street Advisors LLC lifted its position in shares of Tennant by 7.4% in the first quarter. Mason Street Advisors LLC now owns 4,138 shares of the industrial products company’s stock valued at $301,000 after acquiring an additional 285 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.
TNC has been the topic of several recent research reports. TheStreet downgraded Tennant from a “b-” rating to a “c+” rating in a research report on Wednesday, August 9th. Zacks Investment Research downgraded Tennant from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, BidaskClub upgraded Tennant from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $65.00.
Shares of Tennant Company (NYSE:TNC) traded up 0.80% during mid-day trading on Monday, hitting $63.30. The stock had a trading volume of 14,208 shares. The company has a 50 day moving average price of $63.67 and a 200 day moving average price of $70.39. Tennant Company has a 12-month low of $60.05 and a 12-month high of $76.80. The firm has a market cap of $1.13 billion, a P/E ratio of 55.62 and a beta of 1.11.
Tennant (NYSE:TNC) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.19). The firm had revenue of $270.79 million for the quarter, compared to analyst estimates of $268.32 million. Tennant had a net margin of 2.32% and a return on equity of 15.39%. Tennant’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.85 EPS. Equities analysts forecast that Tennant Company will post $2.28 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were given a dividend of $0.21 per share. The ex-dividend date was Tuesday, August 29th. This represents a $0.84 dividend on an annualized basis and a yield of 1.34%. Tennant’s payout ratio is 75.00%.
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.
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