PNC Financial Services Group Inc. Has $909,000 Position in Tennant Company (TNC)

PNC Financial Services Group Inc. increased its position in shares of Tennant Company (NYSE:TNC) by 25.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,305 shares of the industrial products company’s stock after acquiring an additional 2,479 shares during the period. PNC Financial Services Group Inc. owned approximately 0.07% of Tennant worth $909,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TNC. Dorsey & Whitney Trust CO LLC grew its stake in Tennant by 30.1% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 15,910 shares of the industrial products company’s stock worth $1,174,000 after buying an additional 3,680 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Tennant by 0.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 94,608 shares of the industrial products company’s stock worth $6,982,000 after buying an additional 715 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in Tennant by 0.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 52,866 shares of the industrial products company’s stock worth $3,902,000 after buying an additional 199 shares in the last quarter. Teachers Advisors LLC grew its stake in Tennant by 6.8% in the 2nd quarter. Teachers Advisors LLC now owns 37,067 shares of the industrial products company’s stock worth $2,736,000 after buying an additional 2,364 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its stake in Tennant by 86.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,865 shares of the industrial products company’s stock worth $138,000 after buying an additional 865 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

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TNC has been the subject of a number of research reports. TheStreet cut shares of Tennant from a “b-” rating to a “c+” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Tennant from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, BidaskClub raised shares of Tennant from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $65.00.

Tennant Company (NYSE:TNC) opened at 67.25 on Wednesday. The firm has a 50-day moving average of $63.41 and a 200-day moving average of $69.70. Tennant Company has a 1-year low of $60.05 and a 1-year high of $76.80. The stock has a market cap of $1.20 billion, a PE ratio of 59.09 and a beta of 1.13.

Tennant (NYSE:TNC) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.19). The company had revenue of $270.79 million for the quarter, compared to the consensus estimate of $268.32 million. Tennant had a net margin of 2.32% and a return on equity of 15.39%. The company’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 EPS. Analysts expect that Tennant Company will post $2.28 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Tuesday, August 29th. Tennant’s payout ratio is currently 75.00%.

Tennant Company Profile

Tennant Company is engaged in designing, manufacturing and marketing of cleaning solutions. The Company’s segments are Americas; Europe, Middle East, Africa, and Asia Pacific. The Company offers a range of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, specialty surface coatings and asset management solutions.

Institutional Ownership by Quarter for Tennant (NYSE:TNC)

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