Oliver Luxxe Assets LLC Acquires 7,863 Shares of Tennant (NYSE:TNC)

Oliver Luxxe Assets LLC lifted its stake in shares of Tennant (NYSE:TNC) by 85.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,056 shares of the industrial products company’s stock after purchasing an additional 7,863 shares during the period. Oliver Luxxe Assets LLC owned 0.09% of Tennant worth $1,638,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TNC. Virtu Financial LLC bought a new stake in Tennant during the fourth quarter valued at approximately $237,000. Wellington Management Group LLP lifted its stake in shares of Tennant by 5.3% in the 4th quarter. Wellington Management Group LLP now owns 15,430 shares of the industrial products company’s stock valued at $1,430,000 after acquiring an additional 783 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Tennant by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 2,250,515 shares of the industrial products company’s stock valued at $208,600,000 after acquiring an additional 24,019 shares during the period. PNC Financial Services Group Inc. grew its position in Tennant by 6.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 20,616 shares of the industrial products company’s stock worth $1,911,000 after acquiring an additional 1,216 shares during the last quarter. Finally, Quadrature Capital Ltd increased its stake in Tennant by 94.2% in the 4th quarter. Quadrature Capital Ltd now owns 35,725 shares of the industrial products company’s stock worth $3,311,000 after purchasing an additional 17,329 shares during the period. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Tennant Trading Up 0.8 %

TNC opened at $93.97 on Tuesday. Tennant has a one year low of $72.81 and a one year high of $124.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.17 and a quick ratio of 1.46. The business has a 50 day simple moving average of $93.81 and a two-hundred day simple moving average of $102.03. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 16.23 and a beta of 1.00.

Tennant (NYSE:TNC) last announced its quarterly earnings results on Thursday, August 8th. The industrial products company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.11. Tennant had a return on equity of 22.23% and a net margin of 8.76%. The company had revenue of $331.00 million during the quarter, compared to analyst estimates of $327.00 million. During the same quarter last year, the firm posted $1.86 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. Analysts predict that Tennant will post 6.48 EPS for the current year.

Tennant Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Friday, August 30th. Tennant’s dividend payout ratio is currently 19.34%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Tennant from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 5th.

Tennant Company Profile

Tennant Company, together with its subsidiaries, designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers a suite of products, including floor maintenance and cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, and asset management solutions.