Tennant (NYSE:TNC) Sets New 1-Year Low – Should You Sell?

Tennant (NYSE:TNC) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $79.09 and last traded at $79.09, with a volume of 840 shares trading hands. The stock had previously closed at $80.32.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Northcoast Research started coverage on shares of Tennant in a research note on Thursday, December 19th. They set a “buy” rating and a $125.00 target price for the company. StockNews.com lowered shares of Tennant from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st.

Tennant Trading Down 0.3 %

The stock has a 50 day simple moving average of $85.11 and a 200-day simple moving average of $92.37. The company has a current ratio of 2.17, a quick ratio of 1.43 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.51 billion, a P/E ratio of 14.12 and a beta of 1.01.

Tennant (NYSE:TNC) last announced its earnings results on Thursday, October 31st. The industrial products company reported $1.39 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 analysts’ expectations of $319.40 million. During the same period in the prior year, the company posted $1.34 earnings per share. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. On average, equities research analysts forecast that Tennant will post 6.43 EPS for the current fiscal year.

Tennant Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.295 dividend. The ex-dividend date of this dividend was Friday, November 29th. 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 yield of 1.47%. Tennant’s payout ratio is currently 20.81%.

Institutional Trading of Tennant

Several hedge funds have recently bought and sold shares of TNC. Point72 Asia Singapore Pte. Ltd. raised its stake in Tennant by 84.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 527 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 241 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Tennant in the second quarter worth about $58,000. Point72 DIFC Ltd purchased a new stake in Tennant during the 2nd quarter valued at $71,000. nVerses Capital LLC bought a new stake in Tennant in the third quarter worth $77,000. Finally, TD Private Client Wealth LLC boosted its stake in Tennant by 43.7% during the third quarter. TD Private Client Wealth LLC now owns 839 shares of the industrial products company’s stock worth $81,000 after buying an additional 255 shares during the period. Hedge funds and other institutional investors own 93.33% of the company’s stock.

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.