Jacobson & Schmitt Advisors LLC Increases Holdings in Tennant (NYSE:TNC)

Jacobson & Schmitt Advisors LLC grew its holdings in shares of Tennant (NYSE:TNC) by 15.3% in the 4th quarter, HoldingsChannel reports. The firm owned 127,774 shares of the industrial products company’s stock after acquiring an additional 16,934 shares during the quarter. Tennant accounts for approximately 2.0% of Jacobson & Schmitt Advisors LLC’s investment portfolio, making the stock its 26th biggest holding. Jacobson & Schmitt Advisors LLC’s holdings in Tennant were worth $10,417,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Algert Global LLC grew its holdings in Tennant by 16.3% during the 3rd quarter. Algert Global LLC now owns 43,391 shares of the industrial products company’s stock valued at $4,167,000 after buying an additional 6,085 shares in the last quarter. Eagle Asset Management Inc. purchased a new position in Tennant during the 3rd quarter valued at about $3,873,000. Jane Street Group LLC grew its holdings in Tennant by 77.3% during the 3rd quarter. Jane Street Group LLC now owns 30,527 shares of the industrial products company’s stock valued at $2,932,000 after buying an additional 13,311 shares in the last quarter. Geode Capital Management LLC grew its holdings in Tennant by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 436,933 shares of the industrial products company’s stock valued at $41,971,000 after buying an additional 5,862 shares in the last quarter. Finally, Barclays PLC grew its holdings in Tennant by 222.8% during the 3rd quarter. Barclays PLC now owns 40,151 shares of the industrial products company’s stock valued at $3,857,000 after buying an additional 27,712 shares in the last quarter. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Tennant Stock Performance

NYSE:TNC opened at $88.73 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.43. Tennant has a 1-year low of $78.57 and a 1-year high of $124.11. The business has a 50 day moving average of $84.02 and a 200 day moving average of $88.92. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 20.26 and a beta of 1.01.

Tennant (NYSE:TNC) last announced its quarterly earnings data on Monday, February 17th. The industrial products company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.13. Tennant had a return on equity of 19.92% and a net margin of 6.51%. The firm had revenue of $328.90 million during the quarter, compared to the consensus estimate of $324.00 million. On average, sell-side analysts predict that Tennant will post 5.95 earnings per share for the current fiscal year.

Tennant announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 13th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Tennant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.295 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.18 annualized dividend and a yield of 1.33%. Tennant’s payout ratio is currently 26.94%.

Analyst Ratings Changes

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

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.