Federated Hermes Inc. Buys 180 Shares of Tennant (NYSE:TNC)

Federated Hermes Inc. lifted its stake in shares of Tennant (NYSE:TNC) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,927 shares of the industrial products company’s stock after purchasing an additional 180 shares during the quarter. Federated Hermes Inc. owned about 0.06% of Tennant worth $1,013,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Graham Capital Management L.P. bought a new position in Tennant in the third quarter worth approximately $799,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Tennant by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 226,957 shares of the industrial products company’s stock worth $16,829,000 after purchasing an additional 4,805 shares in the last quarter. Qube Research & Technologies Ltd grew its position in Tennant by 174.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 51,153 shares of the industrial products company’s stock valued at $3,793,000 after purchasing an additional 32,483 shares during the period. Invesco Ltd. increased its stake in Tennant by 57.8% during the 3rd quarter. Invesco Ltd. now owns 115,739 shares of the industrial products company’s stock valued at $8,582,000 after purchasing an additional 42,407 shares in the last quarter. Finally, Tudor Investment Corp Et Al raised its holdings in Tennant by 539.4% during the third quarter. Tudor Investment Corp Et Al now owns 46,734 shares of the industrial products company’s stock worth $3,465,000 after buying an additional 39,425 shares during the last quarter. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Tennant Stock Down 0.1 %

Tennant stock opened at $116.28 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 1.44 and a debt-to-equity ratio of 0.34. The firm’s fifty day moving average price is $115.48 and its two-hundred day moving average price is $97.76. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 19.95 and a beta of 1.10. Tennant has a 1-year low of $72.60 and a 1-year high of $124.11.

Tennant (NYSE:TNC) last released its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.65. Tennant had a return on equity of 23.07% and a net margin of 8.81%. The business had revenue of $311.40 million during the quarter, compared to the consensus estimate of $309.87 million. During the same quarter in the previous year, the business earned $1.46 EPS. The company’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities research analysts predict that Tennant will post 6.44 earnings per share for the current fiscal year.

Tennant Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Wednesday, February 28th. Tennant’s dividend payout ratio is 19.21%.

Insider Transactions at Tennant

In related news, SVP Kristin A. Erickson sold 556 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $110.00, for a total transaction of $61,160.00. Following the transaction, the senior vice president now directly owns 10,698 shares of the company’s stock, valued at $1,176,780. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Carol S. Eicher sold 2,298 shares of Tennant stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $116.45, for a total transaction of $267,602.10. Following the sale, the director now directly owns 25,540 shares in the company, valued at $2,974,133. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kristin A. Erickson sold 556 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $110.00, for a total value of $61,160.00. Following the completion of the transaction, the senior vice president now owns 10,698 shares of the company’s stock, valued at approximately $1,176,780. The disclosure for this sale can be found here. Insiders sold a total of 17,597 shares of company stock worth $1,953,293 in the last quarter. 2.40% of the stock is currently owned by corporate insiders.

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.