Tennant (NYSE:TNC) SVP Barb Balinski Sells 1,717 Shares

Tennant (NYSE:TNC) SVP Barb Balinski sold 1,717 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $86.42, for a total value of $148,383.14. Following the completion of the sale, the senior vice president now owns 11,829 shares in the company, valued at approximately $1,022,262.18. The trade was a 12.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Tennant Stock Down 0.8 %

TNC traded down $0.65 on Tuesday, hitting $81.95. The company had a trading volume of 373,381 shares, compared to its average volume of 190,129. The stock has a fifty day moving average price of $84.67 and a 200-day moving average price of $88.39. Tennant has a 12-month low of $78.57 and a 12-month high of $124.11. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 1.97. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 18.71 and a beta of 1.01.

Tennant (NYSE:TNC) last posted its earnings results on Monday, February 17th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.13. Tennant had a return on equity of 19.98% and a net margin of 6.51%. The company had revenue of $328.90 million for the quarter, compared to analyst estimates of $324.00 million. Analysts predict that Tennant will post 5.89 EPS for the current fiscal year.

Tennant declared that its board has initiated a stock repurchase plan on Thursday, February 13th that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Tennant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.295 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.18 annualized dividend and a yield of 1.44%. Tennant’s dividend payout ratio (DPR) is presently 26.94%.

Hedge Funds Weigh In On Tennant

Several institutional investors and hedge funds have recently added to or reduced their stakes in TNC. Algert Global LLC boosted its holdings in Tennant by 16.3% in the third quarter. Algert Global LLC now owns 43,391 shares of the industrial products company’s stock worth $4,167,000 after acquiring an additional 6,085 shares in the last quarter. Eagle Asset Management Inc. acquired a new stake in shares of Tennant during the third quarter worth about $3,873,000. Jane Street Group LLC lifted its holdings in shares of Tennant by 77.3% during the third quarter. Jane Street Group LLC now owns 30,527 shares of the industrial products company’s stock worth $2,932,000 after purchasing an additional 13,311 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Tennant by 1.4% during the third quarter. Geode Capital Management LLC now owns 436,933 shares of the industrial products company’s stock worth $41,971,000 after purchasing an additional 5,862 shares during the period. Finally, Barclays PLC lifted its holdings in Tennant by 222.8% in the third quarter. Barclays PLC now owns 40,151 shares of the industrial products company’s stock valued at $3,857,000 after acquiring an additional 27,712 shares during the period. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Northcoast Research assumed coverage on Tennant in a research note on Thursday, December 19th. They set a “buy” rating and a $125.00 price target on the stock. StockNews.com lowered Tennant from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 27th.

Tennant Company Profile

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.