Schonfeld Strategic Advisors LLC Has $879,000 Stock Holdings in Tennant (NYSE:TNC)

Schonfeld Strategic Advisors LLC boosted its position in Tennant (NYSE:TNC) by 94.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 10,780 shares of the industrial products company’s stock after purchasing an additional 5,250 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in Tennant were worth $879,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Sterling Capital Management LLC lifted its position in shares of Tennant by 668.9% in the fourth quarter. Sterling Capital Management LLC now owns 346 shares of the industrial products company’s stock valued at $28,000 after buying an additional 301 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Tennant during the 4th quarter valued at $59,000. KBC Group NV boosted its position in Tennant by 69.5% during the fourth quarter. KBC Group NV now owns 961 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 394 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Tennant by 120.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,100 shares of the industrial products company’s stock valued at $90,000 after purchasing an additional 600 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of Tennant in the fourth quarter valued at $92,000. Institutional investors own 93.33% of the company’s stock.

Tennant Price Performance

Tennant stock opened at $72.52 on Friday. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 16.56 and a beta of 1.07. The company has a current ratio of 1.97, a quick ratio of 1.43 and a debt-to-equity ratio of 0.32. Tennant has a 12 month low of $67.32 and a 12 month high of $110.45. The stock’s 50 day moving average is $76.46 and its 200-day moving average is $82.61.

Tennant (NYSE:TNC) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.26). The firm had revenue of $290.00 million for the quarter, compared to the consensus estimate of $296.63 million. Tennant had a return on equity of 19.98% and a net margin of 6.51%. During the same quarter in the previous year, the business earned $1.49 EPS. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. Equities research analysts expect that Tennant will post 5.89 EPS for the current year.

Tennant declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 13th that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Tennant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.295 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.18 annualized dividend and a dividend yield of 1.63%. Tennant’s dividend payout ratio is presently 32.96%.

Insider Activity

In related news, insider Richard H. Zay sold 7,053 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $87.58, for a total value of $617,701.74. Following the completion of the transaction, the insider now owns 25,770 shares of the company’s stock, valued at $2,256,936.60. The trade was a 21.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Barb Balinski sold 1,717 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $86.42, for a total transaction of $148,383.14. Following the sale, the senior vice president now owns 11,829 shares in the company, valued at $1,022,262.18. The trade was a 12.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Tennant from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 27th.

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.