Tennant (NYSE:TNC) – Analysts at Dougherty & Co boosted their FY2018 earnings per share estimates for Tennant in a research report issued on Wednesday, April 25th. Dougherty & Co analyst J. Fisher now expects that the industrial products company will post earnings of $2.10 per share for the year, up from their previous forecast of $1.89. Dougherty & Co currently has a “Buy” rating on the stock.

Tennant (NYSE:TNC) last posted its quarterly earnings results on Monday, April 23rd. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.12. Tennant had a return on equity of 9.27% and a net margin of 0.10%. The business had revenue of $272.80 million for the quarter, compared to analyst estimates of $251.93 million. During the same period last year, the company earned $0.31 EPS. Tennant’s revenue for the quarter was up 42.8% compared to the same quarter last year.

Separately, Zacks Investment Research upgraded Tennant from a “strong sell” rating to a “hold” rating in a research report on Saturday, January 13th.

TNC opened at $73.90 on Thursday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.25 and a current ratio of 1.80. Tennant has a 1 year low of $59.00 and a 1 year high of $77.20. The company has a market cap of $1,321.43, a P/E ratio of 48.30, a P/E/G ratio of 3.66 and a beta of 0.86.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, May 30th. This represents a $0.84 annualized dividend and a yield of 1.14%. Tennant’s payout ratio is 54.55%.

In other Tennant news, insider Chris Killingstad sold 44,272 shares of the stock in a transaction that occurred on Tuesday, April 10th. The stock was sold at an average price of $68.55, for a total value of $3,034,845.60. Following the completion of the sale, the insider now owns 176,100 shares in the company, valued at approximately $12,071,655. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thomas Paulson sold 10,575 shares of the stock in a transaction that occurred on Monday, April 23rd. The stock was sold at an average price of $73.19, for a total value of $773,984.25. Following the completion of the sale, the insider now owns 35,582 shares of the company’s stock, valued at approximately $2,604,246.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,234 shares of company stock worth $4,803,073. 5.60% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TNC. New York State Common Retirement Fund lifted its holdings in Tennant by 34.8% in the 3rd quarter. New York State Common Retirement Fund now owns 26,413 shares of the industrial products company’s stock worth $1,749,000 after buying an additional 6,813 shares during the period. Russell Investments Group Ltd. lifted its holdings in Tennant by 254.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 17,700 shares of the industrial products company’s stock worth $1,172,000 after buying an additional 12,700 shares during the period. JPMorgan Chase & Co. lifted its holdings in Tennant by 7.9% in 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 period. Wells Fargo & Company MN lifted its holdings in Tennant by 62.1% in the 3rd quarter. Wells Fargo & Company MN now owns 26,780 shares of the industrial products company’s stock worth $1,773,000 after buying an additional 10,264 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Tennant by 1.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 118,688 shares of the industrial products company’s stock worth $7,858,000 after buying an additional 1,972 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Tennant Company Profile

Tennant Company designs, manufactures, and markets floor cleaning equipment. It offers a suite of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, specialty surface coatings, and asset management solutions.

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