Fuller & Thaler Asset Management Inc. Lowers Position in Tennant Company $TNC

Fuller & Thaler Asset Management Inc. lessened its stake in Tennant Company (NYSE:TNC) by 11.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 426,896 shares of the industrial products company’s stock after selling 57,729 shares during the quarter. Fuller & Thaler Asset Management Inc. owned approximately 2.29% of Tennant worth $34,045,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Tennant by 429.0% in the first quarter. GAMMA Investing LLC now owns 492 shares of the industrial products company’s stock worth $39,000 after buying an additional 399 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Tennant by 3.3% in the first quarter. Principal Financial Group Inc. now owns 104,690 shares of the industrial products company’s stock worth $8,349,000 after buying an additional 3,370 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Tennant by 68.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 52,244 shares of the industrial products company’s stock worth $4,195,000 after buying an additional 21,164 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Tennant by 25.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,849 shares of the industrial products company’s stock worth $307,000 after buying an additional 789 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Tennant in the first quarter worth $763,000. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Tennant Price Performance

Tennant stock opened at $83.4010 on Wednesday. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 1.79 and a beta of 1.06. The firm’s fifty day moving average is $80.23 and its 200 day moving average is $78.98. The company has a quick ratio of 1.38, a current ratio of 2.09 and a debt-to-equity ratio of 0.33. Tennant Company has a 52-week low of $67.32 and a 52-week high of $98.52.

Tennant (NYSE:TNC) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.14). The business had revenue of $318.60 million for the quarter, compared to analysts’ expectations of $327.20 million. Tennant had a net margin of 4.84% and a return on equity of 16.41%. Tennant’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.83 EPS. Sell-side analysts forecast that Tennant Company will post 5.89 EPS for the current fiscal year.

Tennant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.295 per share. The ex-dividend date is Friday, August 29th. This represents a $1.18 dividend on an annualized basis and a yield of 1.4%. Tennant’s payout ratio is 36.76%.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Tennant to a “hold” rating in a report on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $125.00.

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.