Tennant Company $TNC Shares Sold by Royce & Associates LP

Royce & Associates LP decreased its position in shares of Tennant Company (NYSE:TNC) by 50.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,000 shares of the industrial products company’s stock after selling 40,500 shares during the period. Royce & Associates LP’s holdings in Tennant were worth $3,242,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Royal Bank of Canada grew its position in shares of Tennant by 23.0% during the first quarter. Royal Bank of Canada now owns 4,563 shares of the industrial products company’s stock worth $364,000 after acquiring an additional 854 shares during the last quarter. AQR Capital Management LLC boosted its stake in Tennant by 68.8% during the 1st quarter. AQR Capital Management LLC now owns 49,724 shares of the industrial products company’s stock worth $3,966,000 after purchasing an additional 20,275 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Tennant by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,271 shares of the industrial products company’s stock worth $899,000 after purchasing an additional 491 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Tennant by 17.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 56,214 shares of the industrial products company’s stock valued at $4,483,000 after purchasing an additional 8,421 shares during the period. Finally, Jane Street Group LLC raised its holdings in shares of Tennant by 39.1% in the first quarter. Jane Street Group LLC now owns 38,911 shares of the industrial products company’s stock valued at $3,103,000 after buying an additional 10,946 shares during the last quarter. 93.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tennant

In other Tennant news, Director David Windley sold 3,694 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $63.86, for a total value of $235,898.84. Following the completion of the sale, the director owned 7,422 shares of the company’s stock, valued at approximately $473,968.92. This trade represents a 33.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carol S. Eicher sold 3,130 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $61.98, for a total transaction of $193,997.40. Following the sale, the director owned 28,836 shares in the company, valued at $1,787,255.28. The trade was a 9.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have bought a total of 20,163 shares of company stock valued at $1,261,674 in the last three months. Insiders own 2.60% of the company’s stock.

Tennant Stock Performance

NYSE TNC opened at $61.91 on Friday. The company has a current ratio of 2.05, a quick ratio of 1.37 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average is $76.05 and its two-hundred day moving average is $77.51. Tennant Company has a 12-month low of $60.17 and a 12-month high of $87.72. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 1.86 and a beta of 1.07.

Tennant Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, February 27th. Tennant’s dividend payout ratio is currently 52.99%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TNC. Zacks Research lowered Tennant from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tennant in a research note on Monday, December 29th. Wall Street Zen lowered Tennant from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Roth Mkm restated a “buy” rating and set a $91.00 price target (down from $107.00) on shares of Tennant in a research note on Wednesday, February 25th. Finally, Freedom Capital lowered shares of Tennant from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Tennant has an average rating of “Hold” and a consensus target price of $91.00.

About Tennant

Tennant Company is a global provider of solutions that help keep facilities clean, safe and sustainable. The company designs, manufactures and markets a broad range of cleaning machines, chemicals and service programs that address the cleaning needs of customers in diverse industries, including manufacturing, warehousing, food and beverage, healthcare and education. Tennant’s product portfolio encompasses both ride-on and walk-behind floor scrubbers and sweepers, carpet extractors, power brushes, pressure washers and autonomous cleaning machines.

Founded in 1870 and headquartered in Minneapolis, Minnesota, Tennant has grown from a regional manufacturer into a multinational organization with operations in more than 70 countries and sales representation in over 100 markets worldwide.