Tennant Company (TNC) to Distribute Quarterly Dividend of $0.33 on December 15th

Tennant Company (NYSE:TNC) announced a quarterly dividend on Monday, November 2nd. Stockholders of record on Monday, November 30th will be paid a dividend of $0.3250 per share by the industrial products company on Tuesday, December 15th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, November 30th. This is a 4.8% increase from Tennant’s previous quarterly dividend of $0.31.

Tennant has increased its dividend by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 53 years. Tennant has a payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Tennant to earn $5.66 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 21.9%.

Tennant Price Performance

TNC opened at $72.24 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.37 and a current ratio of 2.04. Tennant has a 52-week low of $60.17 and a 52-week high of $91.93. The stock has a market capitalization of $1.23 billion, a PE ratio of 53.91, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14. The stock’s 50 day moving average price is $67.78 and its 200-day moving average price is $75.86.

Tennant (NYSE:TNC) last announced its earnings results on Monday, November 2nd. The industrial products company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.42. Tennant had a return on equity of 13.25% and a net margin of 1.85%. The company had revenue of $322.30 million during the quarter, compared to the consensus estimate of $330.75 million. During the same quarter in the prior year, the company earned $1.46 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts predict that Tennant will post 3.84 EPS for the current year.

Insiders Place Their Bets

In other news, Director Timothy R. Morse bought 1,500 shares of the stock in a transaction dated Wednesday, August 12th. The stock was bought at an average price of $68.18 per share, for a total transaction of $102,270.00. Following the purchase, the director directly owned 10,614 shares in the company, valued at $723,662.52. This trade represents a 16.46% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donal L. Mulligan bought 8,000 shares of the stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average price of $67.34 per share, with a total value of $538,720.00. Following the purchase, the director owned 16,000 shares in the company, valued at $1,077,440. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 12,500 shares of company stock worth $849,250. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Tennant

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pinnacle Wealth Planning Services Inc. lifted its position in Tennant by 1,683.3% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 428 shares of the industrial products company’s stock valued at $29,000 after buying an additional 404 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Tennant by 623.0% during the 3rd quarter. Parallel Advisors LLC now owns 535 shares of the industrial products company’s stock valued at $36,000 after buying an additional 461 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Tennant during the 2nd quarter valued at $39,000. Versant Capital Management Inc grew its position in shares of Tennant by 44.0% in the 3rd quarter. Versant Capital Management Inc now owns 579 shares of the industrial products company’s stock worth $39,000 after buying an additional 177 shares during the period. Finally, State of Wyoming purchased a new stake in shares of Tennant in the 3rd quarter worth about $53,000. 93.33% of the stock is owned by hedge funds and other institutional investors.

Tennant Company Profile

Tennant Company is a manufacturer of cleaning equipment and technologies for commercial, industrial and institutional customers. Its product portfolio includes floor scrubbers, sweepers, combination machines, carpet extractors, outdoor cleaning equipment and related vacuum systems. The company also offers cleaning solutions, replacement parts, maintenance programs and other services designed to support facility-management operations.

Tennant develops technology aimed at improving cleaning efficiency and reducing environmental impact.