Skandinaviska Enskilda Banken AB publ Trims Position in Tennant (NYSE:TNC)

Posted by on Feb 24th, 2023

Skandinaviska Enskilda Banken AB publ cut its position in Tennant (NYSE:TNC – Get Rating) by 39.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,100 shares of the industrial products company’s stock after selling 9,900 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.08% of Tennant worth $854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TNC. Credit Suisse AG grew its stake in Tennant by 6.0% during the third quarter. Credit Suisse AG now owns 25,330 shares of the industrial products company’s stock valued at $1,432,000 after acquiring an additional 1,436 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in Tennant by 13.2% during the third quarter. Gamco Investors INC. ET AL now owns 490,325 shares of the industrial products company’s stock valued at $27,733,000 after acquiring an additional 57,000 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Tennant by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 572,162 shares of the industrial products company’s stock valued at $32,361,000 after acquiring an additional 6,624 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Tennant by 695.6% during the third quarter. Tower Research Capital LLC TRC now owns 8,966 shares of the industrial products company’s stock valued at $507,000 after acquiring an additional 7,839 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in Tennant by 59.1% during the third quarter. State Board of Administration of Florida Retirement System now owns 10,733 shares of the industrial products company’s stock valued at $607,000 after acquiring an additional 3,989 shares in the last quarter. 88.51% of the stock is owned by hedge funds and other institutional investors.

Tennant Stock Performance

TNC opened at $73.00 on Friday. Tennant has a fifty-two week low of $54.90 and a fifty-two week high of $85.33. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.32 and a current ratio of 2.14. The company has a fifty day moving average of $65.77 and a 200 day moving average of $63.30. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 27.14 and a beta of 1.09.

Tennant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Friday, March 3rd will be given a dividend of $0.265 per share. The ex-dividend date is Thursday, March 2nd. This represents a $1.06 annualized dividend and a yield of 1.45%. Tennant’s dividend payout ratio (DPR) is currently 39.41%.

Tennant Profile

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Tennant Co engages in the design, manufacture, and marketing of cleaning solutions. Its products include equipment for maintaining surfaces in industrial, commercial, and outdoor environments, detergent-free and other sustainable cleaning technologies, cleaning tools and supplies, and coatings for protecting, repairing and upgrading surfaces.

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Institutional Ownership by Quarter for Tennant (NYSE:TNC)

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