Albert D Mason Inc. Has $800,000 Position in Tennant (NYSE:TNC)

Albert D Mason Inc. grew its stake in Tennant (NYSE:TNC) by 1.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,811 shares of the industrial products company’s stock after buying an additional 145 shares during the period. Albert D Mason Inc.’s holdings in Tennant were worth $800,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TNC. Assenagon Asset Management S.A. boosted its holdings in Tennant by 82.1% in the third quarter. Assenagon Asset Management S.A. now owns 233,550 shares of the industrial products company’s stock valued at $22,430,000 after acquiring an additional 105,319 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Tennant by 79.8% in the 2nd quarter. American Century Companies Inc. now owns 151,151 shares of the industrial products company’s stock worth $14,879,000 after purchasing an additional 67,080 shares during the period. Eagle Asset Management Inc. bought a new stake in shares of Tennant in the 3rd quarter valued at $3,873,000. Renaissance Technologies LLC increased its position in shares of Tennant by 1,900.0% during the second quarter. Renaissance Technologies LLC now owns 36,000 shares of the industrial products company’s stock worth $3,544,000 after buying an additional 34,200 shares during the period. Finally, Barclays PLC raised its stake in Tennant by 222.8% during the third quarter. Barclays PLC now owns 40,151 shares of the industrial products company’s stock worth $3,857,000 after buying an additional 27,712 shares during the last quarter. 93.33% of the stock is currently owned by institutional investors.

Tennant Stock Performance

NYSE:TNC opened at $85.07 on Friday. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. Tennant has a twelve month low of $78.57 and a twelve month high of $124.11. The company has a fifty day moving average of $84.50 and a 200-day moving average of $91.76. The firm has a market capitalization of $1.61 billion, a P/E ratio of 15.00 and a beta of 1.01.

Tennant (NYSE:TNC) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.39 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.05). The company had revenue of $315.80 million during the quarter, compared to the consensus estimate of $319.40 million. Tennant had a net margin of 8.52% and a return on equity of 21.50%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $1.34 earnings per share. As a group, sell-side analysts anticipate that Tennant will post 6.43 EPS for the current year.

Tennant Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $0.295 per share. This is an increase from Tennant’s previous quarterly dividend of $0.28. This represents a $1.18 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Friday, November 29th. Tennant’s dividend payout ratio is 20.81%.

Wall Street Analysts Forecast Growth

TNC has been the subject of a number of recent analyst reports. StockNews.com downgraded Tennant from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Northcoast Research initiated coverage on Tennant in a research report on Thursday, December 19th. They set a “buy” rating and a $125.00 target price on the stock.

About Tennant

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.