D.A. Davidson & CO. Holds Position in Tennant Company (TNC)
D.A. Davidson & CO. maintained its position in shares of Tennant Company (NYSE:TNC) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,361 shares of the industrial products company’s stock at the close of the 2nd quarter. D.A. Davidson & CO.’s holdings in Tennant were worth $100,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of TNC. First Trust Advisors LP lifted its holdings in Tennant by 82.1% in the 1st quarter. First Trust Advisors LP now owns 11,853 shares of the industrial products company’s stock worth $861,000 after purchasing an additional 5,345 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Tennant by 8.0% in the 1st quarter. Bank of New York Mellon Corp now owns 252,687 shares of the industrial products company’s stock worth $18,357,000 after purchasing an additional 18,632 shares during the last quarter. Comerica Bank lifted its holdings in shares of Tennant by 4.6% during the first quarter. Comerica Bank now owns 19,685 shares of the industrial products company’s stock worth $1,469,000 after buying an additional 864 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of Tennant by 30.4% during the first quarter. UBS Asset Management Americas Inc. now owns 5,583 shares of the industrial products company’s stock worth $406,000 after buying an additional 1,300 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new position in shares of Tennant during the first quarter worth approximately $658,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.
A number of brokerages have recently commented on TNC. Zacks Investment Research upgraded Tennant from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 4th. BidaskClub lowered Tennant from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Finally, TheStreet lowered Tennant from a “b-” rating to a “c+” rating in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $65.00.
Tennant Company (NYSE TNC) opened at 68.70 on Friday. Tennant Company has a one year low of $60.05 and a one year high of $76.80. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 60.37 and a beta of 1.13. The stock’s 50 day moving average price is $63.82 and its 200-day moving average price is $69.68.
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 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 business had revenue of $270.79 million during the quarter, compared to analyst estimates of $268.32 million. During the same period in the previous year, the business earned $0.85 earnings per share. The business’s quarterly revenue was up 24.9% on a year-over-year basis. On average, equities research analysts expect that Tennant Company will post $2.28 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were given a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.22%. Tennant’s payout ratio is 75.00%.
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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