Jacobson & Schmitt Advisors LLC Purchases 16,934 Shares of Tennant (NYSE:TNC)

Jacobson & Schmitt Advisors LLC increased its position in shares of Tennant (NYSE:TNC) by 15.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 127,774 shares of the industrial products company’s stock after purchasing 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 largest position. Jacobson & Schmitt Advisors LLC owned 0.68% of Tennant worth $10,417,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. lifted its position 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 worth $51,000 after purchasing an additional 241 shares during the period. KBC Group NV lifted its holdings in shares of Tennant by 69.5% in the fourth quarter. KBC Group NV now owns 961 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 394 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Tennant by 43.7% in the third quarter. TD Private Client Wealth LLC now owns 839 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 255 shares during the last quarter. R Squared Ltd acquired a new position in shares of Tennant in the fourth quarter valued at approximately $92,000. Finally, Millburn Ridgefield Corp increased its stake in shares of Tennant by 453.4% in the third quarter. Millburn Ridgefield Corp now owns 1,212 shares of the industrial products company’s stock valued at $116,000 after buying an additional 993 shares during the period. Institutional investors own 93.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TNC shares. Northcoast Research started coverage on shares of Tennant in a research report on Thursday, December 19th. They set a “buy” rating and a $125.00 target price for the company. StockNews.com raised shares of Tennant from a “buy” rating to a “strong-buy” rating in a research report on Wednesday.

Tennant Price Performance

Shares of TNC opened at $88.73 on Thursday. Tennant has a 12-month low of $78.57 and a 12-month high of $124.11. The business’s fifty day moving average is $84.02 and its 200 day moving average is $88.92. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1.67 billion, a P/E ratio of 20.26 and a beta of 1.01.

Tennant (NYSE:TNC) last issued 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 business had revenue of $328.90 million for the quarter, compared to analysts’ expectations of $324.00 million. Sell-side analysts anticipate that Tennant will post 5.95 earnings per share for the current fiscal year.

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

Tennant Announces Dividend

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

Tennant 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.