Deutsche Bank AG Acquires 3,650 Shares of Tennant (TNC)

Deutsche Bank AG increased its holdings in shares of Tennant (NYSE:TNC) by 3.4% during the fourth quarter, Holdings Channel reports. The fund owned 111,102 shares of the industrial products company’s stock after buying an additional 3,650 shares during the period. Deutsche Bank AG’s holdings in Tennant were worth $5,788,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quantamental Technologies LLC acquired a new position in Tennant during the fourth quarter worth about $26,000. Dynamic Technology Lab Private Ltd acquired a new position in Tennant during the third quarter worth about $205,000. SNS Financial Group LLC boosted its position in Tennant by 25.2% during the fourth quarter. SNS Financial Group LLC now owns 3,975 shares of the industrial products company’s stock worth $207,000 after acquiring an additional 800 shares during the last quarter. Actinver Wealth Management Inc. acquired a new position in Tennant during the fourth quarter worth about $216,000. Finally, Bessemer Group Inc. acquired a new position in Tennant during the fourth quarter worth about $241,000. Hedge funds and other institutional investors own 85.89% of the company’s stock.

Shares of TNC stock opened at $67.24 on Wednesday. The company has a current ratio of 1.88, a quick ratio of 1.34 and a debt-to-equity ratio of 1.04. Tennant has a 12 month low of $48.97 and a 12 month high of $86.03. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 2.81 and a beta of 1.13.

Tennant (NYSE:TNC) last issued its earnings results on Thursday, February 21st. The industrial products company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. Tennant had a net margin of 2.97% and a return on equity of 13.01%. The company had revenue of $285.20 million for the quarter, compared to the consensus estimate of $285.25 million. During the same period in the previous year, the firm earned $0.34 earnings per share. Tennant’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, research analysts anticipate that Tennant will post 2.4 EPS for the current fiscal year.

Separately, Zacks Investment Research upgraded shares of Tennant from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Tuesday, January 15th.

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Tennant Profile

Tennant Company designs, manufactures, and markets floor cleaning equipment worldwide. The company offers a suite of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, specialty surface coatings, and asset management solutions.

See Also: Diversification

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Institutional Ownership by Quarter for Tennant (NYSE:TNC)

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