Van ECK Associates Corp Decreases Stake in Tennant by 16.7% in Q1
August 11, 2023
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Tennant Company ($NYSE:TNC) is a global leader in designing, manufacturing, and marketing of cleaning technologies and solutions. The company’s portfolio includes advanced cleaning machines, detergents, aftermarket parts and maintenance solutions that help customers maintain healthier, safer and more productive indoor and outdoor environments. This drop in share ownership is attributed to various factors, such as market conditions, company performance, and investor sentiment. Despite the decreased ownership, Van ECK Associates Corp stated that they remain committed to Tennant’s success and continue to be a long-term shareholder. Tennant is making strides in the market, having earned several awards this year for its innovative products and customer service.
In addition, the company’s strategic partnerships with organizations such as Building Management Company and Cleaning Industry Research Institute have helped them expand their reach and develop new products and services. Despite the recent drop in Van ECK’s position, Tennant is confident that its strong market performance and long-term growth potential will continue to attract investor interest.
Analysis
At GoodWhale, we’ve performed an in-depth analysis of TENNANT COMPANY‘s fundamentals. Based on our Risk Rating, we’ve determined that TENNANT COMPANY is a medium risk investment in terms of financial and business aspects. However, during our analysis, we also detected one risk warnings in TENNANT COMPANY’s balance sheet. If you want to take a closer look, simply register on goodwhale.com to check it out. We suggest doing this to get an even better understanding of the company before you make your decision. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Tennant Company. More…
| Total Revenues | Net Income | Net Margin |
| 1.18k | 95 | 8.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Tennant Company. More…
| Operations | Investing | Financing |
| 68.7 | -26.4 | -17.8 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Tennant Company. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.11k | 586.4 | 28.08 |
Key Ratios Snapshot
Some of the financial key ratios for Tennant Company are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.3% | 18.1% | 11.0% |
| FCF Margin | ROE | ROA |
| 3.5% | 16.0% | 7.3% |
Peers
Its main competitors are Jiangsu Rutong Petro-Machinery Co Ltd, Chart Industries Inc, and Sandvik AB.
– Jiangsu Rutong Petro-Machinery Co Ltd ($SHSE:603036)
Jiangsu Rutong Petro-Machinery Co Ltd has a market cap of 1.88B as of 2022, a Return on Equity of 2.66%. The company manufactures and sells petroleum machinery and equipment. Its products include drilling rigs, workover rigs, mud pumps, and other equipment. The company was founded in 1998 and is headquartered in Jiangsu, China.
– Chart Industries Inc ($NYSE:GTLS)
Chart Industries is a publicly traded company with a market capitalization of $7.4 billion as of 2022. The company has a return on equity of 3.13%. Chart Industries is a leading global manufacturer of highly engineered cryogenic equipment used in the industrial gas, energy, and healthcare markets.
– Sandvik AB ($LTS:0HC0)
Sandvik AB is a Swedish engineering company that manufactures tools and equipment for the mining and construction industries. The company has a market cap of 218.26B as of 2022 and a Return on Equity of 16.88%. Sandvik is a global company with operations in more than 130 countries. The company’s products are used in a variety of applications, including mining, tunneling, and drilling.
Summary
Investors have been closely monitoring Tennant Company as the stock has seen a 16.7% drop in shares held by Van ECK Associates Corp during the first quarter. Analysts have been providing their outlook on the stock, with some providing positive analysis and others providing more cautionary comments. Investors should continue to monitor Tennant Company and consider the various factors that may impact the stock price, such as the performance of the company, industry developments, and macroeconomic trends. In addition, investors should be sure to keep up to date with any news or developments that may affect the stock’s performance.
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