Riverwater Partners LLC Invests $1.79 Million in Tennant (NYSE:TNC)

Riverwater Partners LLC bought a new stake in Tennant (NYSE:TNC) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 19,171 shares of the industrial products company’s stock, valued at approximately $1,792,000.

Other institutional investors also recently bought and sold shares of the company. CWM LLC grew its position in shares of Tennant by 290.9% during the 2nd quarter. CWM LLC now owns 387 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 288 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Tennant in the second quarter worth about $58,000. DekaBank Deutsche Girozentrale bought a new position in shares of Tennant during the 1st quarter valued at approximately $86,000. Point72 DIFC Ltd bought a new position in shares of Tennant during the 2nd quarter valued at approximately $71,000. Finally, nVerses Capital LLC bought a new stake in Tennant during the 3rd quarter worth approximately $77,000. Institutional investors own 93.33% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Tennant from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 5th.

Tennant Price Performance

Shares of Tennant stock opened at $90.67 on Thursday. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 15.66 and a beta of 1.00. The company has a quick ratio of 1.46, a current ratio of 2.17 and a debt-to-equity ratio of 0.33. The stock’s 50-day simple moving average is $93.67 and its 200-day simple moving average is $100.74. Tennant has a 52 week low of $72.81 and a 52 week high of $124.11.

Tennant (NYSE:TNC) last posted its quarterly earnings results on Thursday, August 8th. The industrial products company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.11. Tennant had a return on equity of 22.23% and a net margin of 8.76%. The company had revenue of $331.00 million for the quarter, compared to analysts’ expectations of $327.00 million. During the same period in the previous year, the firm earned $1.86 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. As a group, analysts expect that Tennant will post 6.48 earnings per share for the current fiscal year.

Tennant Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.12 annualized dividend and a yield of 1.24%. Tennant’s payout ratio is 19.34%.

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.