Tennant (TNC) Shares Bought by Citadel Advisors LLC
Citadel Advisors LLC increased its position in shares of Tennant (NYSE:TNC) by 61.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,109 shares of the industrial products company’s stock after acquiring an additional 10,677 shares during the period. Citadel Advisors LLC owned about 0.16% of Tennant worth $1,861,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in Tennant by 7.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 30,988 shares of the industrial products company’s stock worth $2,056,000 after buying an additional 2,277 shares during the last quarter. American International Group Inc. grew its stake in shares of Tennant by 5.8% in the 3rd quarter. American International Group Inc. now owns 13,991 shares of the industrial products company’s stock valued at $926,000 after purchasing an additional 761 shares during the last quarter. Quantbot Technologies LP grew its stake in shares of Tennant by 1,013.0% in the 3rd quarter. Quantbot Technologies LP now owns 2,226 shares of the industrial products company’s stock valued at $147,000 after purchasing an additional 2,026 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Tennant by 254.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 17,700 shares of the industrial products company’s stock valued at $1,172,000 after buying an additional 12,700 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Tennant by 11.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 579,909 shares of the industrial products company’s stock valued at $38,389,000 after buying an additional 59,559 shares during the period. 91.61% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on the company. Dougherty & Co reaffirmed a “neutral” rating on shares of Tennant in a report on Sunday, November 12th. Zacks Investment Research downgraded Tennant from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 9th. BidaskClub cut Tennant from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Finally, TheStreet cut Tennant from a “b-” rating to a “c+” rating in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating and three have assigned 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.
Shares of Tennant (NYSE TNC) traded down $0.35 during midday trading on Tuesday, reaching $64.35. The company’s stock had a trading volume of 133,000 shares, compared to its average volume of 80,808. The firm has a market capitalization of $1,154.99, a PE ratio of 31.11, a P/E/G ratio of 3.47 and a beta of 1.03. Tennant has a 12-month low of $60.05 and a 12-month high of $76.80. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.09 and a quick ratio of 1.39.
Tennant (NYSE:TNC) last issued its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.29). The business had revenue of $261.92 million during the quarter, compared to the consensus estimate of $252.13 million. Tennant had a return on equity of 13.07% and a net margin of 1.32%. The business’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. research analysts anticipate that Tennant will post 1.56 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.31%. Tennant’s dividend payout ratio (DPR) is presently 123.53%.
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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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