Tennant Company (NYSE:TNC) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its holdings in shares of Tennant Company (NYSE:TNC) by 5.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 9,905 shares of the industrial products company’s stock after selling 620 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Tennant were worth $790,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Sterling Capital Management LLC raised its stake in shares of Tennant by 668.9% during the 4th quarter. Sterling Capital Management LLC now owns 346 shares of the industrial products company’s stock worth $28,000 after buying an additional 301 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Tennant by 429.0% during the 1st 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. Farther Finance Advisors LLC raised its stake in shares of Tennant by 194.8% during the 1st quarter. Farther Finance Advisors LLC now owns 619 shares of the industrial products company’s stock worth $50,000 after buying an additional 409 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Tennant during the 4th quarter worth approximately $59,000. Finally, Canada Pension Plan Investment Board raised its stake in shares of Tennant by 120.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,100 shares of the industrial products company’s stock worth $90,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 93.33% of the company’s stock.

Tennant Stock Performance

Shares of TNC stock opened at $82.30 on Thursday. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 22.99 and a beta of 1.05. The stock has a 50 day simple moving average of $74.63 and a 200-day simple moving average of $79.24. Tennant Company has a 12-month low of $67.32 and a 12-month high of $110.45. The company has a current ratio of 2.14, a quick ratio of 1.40 and a debt-to-equity ratio of 0.34.

Tennant (NYSE:TNC) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.26). The business had revenue of $290.00 million for the quarter, compared to analysts’ expectations of $296.63 million. Tennant had a return on equity of 17.76% and a net margin of 5.40%. The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the company posted $1.49 earnings per share. On average, equities analysts forecast that Tennant Company will post 5.89 EPS for the current year.

Tennant Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were paid a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Friday, May 30th. Tennant’s payout ratio is currently 32.96%.

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.