Citigroup Inc. trimmed its holdings in Tennant Company (NYSE:TNC) by 4.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,459 shares of the industrial products company’s stock after selling 670 shares during the quarter. Citigroup Inc. owned 0.09% of Tennant worth $1,141,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of TNC. First Trust Advisors LP boosted its position in shares of Tennant by 82.1% in the first quarter. First Trust Advisors LP now owns 11,853 shares of the industrial products company’s stock valued at $861,000 after acquiring an additional 5,345 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Tennant by 8.0% in the first quarter. Bank of New York Mellon Corp now owns 252,687 shares of the industrial products company’s stock valued at $18,357,000 after acquiring an additional 18,632 shares during the period. Comerica Bank boosted its position in shares of Tennant by 4.6% in the first quarter. Comerica Bank now owns 19,685 shares of the industrial products company’s stock valued at $1,469,000 after acquiring an additional 864 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Tennant by 30.4% in the first quarter. UBS Asset Management Americas Inc. now owns 5,583 shares of the industrial products company’s stock valued at $406,000 after acquiring an additional 1,300 shares during the period. Finally, Karp Capital Management Corp bought a new stake in shares of Tennant in the first quarter valued at approximately $658,000. 89.42% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: “Citigroup Inc. Trims Stake in Tennant Company (TNC)” was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark laws. The legal version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/10/05/citigroup-inc-trims-stake-in-tennant-company-tnc.html.

Several research firms have recently weighed in on TNC. BidaskClub raised Tennant from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. Zacks Investment Research raised Tennant from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Finally, TheStreet cut Tennant from a “b-” rating to a “c+” rating in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $65.00.

Shares of Tennant Company (NYSE:TNC) opened at 68.70 on Thursday. The stock has a 50 day moving average price of $62.91 and a 200 day moving average price of $69.83. The company has a market capitalization of $1.22 billion, a PE ratio of 60.37 and a beta of 1.13. Tennant Company has a 52-week low of $60.05 and a 52-week high of $76.80.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Tuesday, August 29th. Tennant’s payout ratio is presently 75.00%.

Tennant 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)

Receive News & Stock Ratings for Tennant Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tennant Company and related stocks with our FREE daily email newsletter.