Mutual of America Capital Management LLC Sells 281 Shares of Tennant (NYSE:TNC)

Mutual of America Capital Management LLC lowered its stake in Tennant (NYSE:TNC) by 9.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,844 shares of the industrial products company’s stock after selling 281 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Tennant were worth $273,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Victory Capital Management Inc. raised its position in shares of Tennant by 98.0% during the second quarter. Victory Capital Management Inc. now owns 22,290 shares of the industrial products company’s stock worth $2,194,000 after purchasing an additional 11,034 shares during the period. TD Asset Management Inc increased its stake in Tennant by 129.3% in the 2nd quarter. TD Asset Management Inc now owns 13,300 shares of the industrial products company’s stock valued at $1,309,000 after buying an additional 7,500 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in shares of Tennant during the second quarter valued at approximately $1,055,000. Renaissance Technologies LLC increased its position in shares of Tennant by 1,900.0% during the 2nd quarter. Renaissance Technologies LLC now owns 36,000 shares of the industrial products company’s stock valued at $3,544,000 after purchasing an additional 34,200 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in Tennant by 20.3% in the second quarter. Acadian Asset Management LLC now owns 125,782 shares of the industrial products company’s stock worth $12,377,000 after acquiring an additional 21,210 shares during the period. 93.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Tennant from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st.

Tennant Trading Down 0.4 %

Shares of TNC opened at $88.29 on Friday. The business’s 50-day moving average price is $90.80 and its 200-day moving average price is $96.13. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1.67 billion, a PE ratio of 15.57 and a beta of 1.00. Tennant has a twelve month low of $82.54 and a twelve month high of $124.11.

Tennant (NYSE:TNC) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.05). Tennant had a net margin of 8.52% and a return on equity of 21.50%. The business had revenue of $315.80 million for the quarter, compared to the consensus estimate of $319.40 million. During the same quarter last year, the business posted $1.34 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts forecast that Tennant will post 6.43 EPS for the current fiscal year.

Tennant Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.295 dividend. This is a boost from Tennant’s previous quarterly dividend of $0.28. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Friday, November 29th. Tennant’s dividend payout ratio is presently 20.81%.

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.