Tennant (NYSE:TNC) Shares Bought by Arizona State Retirement System

Arizona State Retirement System boosted its position in shares of Tennant (NYSE:TNC – Get Rating) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,983 shares of the industrial products company’s stock after buying an additional 186 shares during the quarter. Arizona State Retirement System’s holdings in Tennant were worth $307,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its position in Tennant by 15.5% during the second quarter. Captrust Financial Advisors now owns 1,090 shares of the industrial products company’s stock valued at $65,000 after buying an additional 146 shares during the period. Inspire Investing LLC grew its position in Tennant by 5.5% during the fourth quarter. Inspire Investing LLC now owns 3,933 shares of the industrial products company’s stock valued at $242,000 after buying an additional 204 shares during the period. Credit Suisse AG grew its position in Tennant by 1.1% during the second quarter. Credit Suisse AG now owns 23,894 shares of the industrial products company’s stock valued at $1,416,000 after buying an additional 262 shares during the period. Great West Life Assurance Co. Can grew its position in Tennant by 2.7% during the first quarter. Great West Life Assurance Co. Can now owns 16,243 shares of the industrial products company’s stock valued at $1,312,000 after buying an additional 424 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Tennant by 17.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,210 shares of the industrial products company’s stock valued at $198,000 after purchasing an additional 478 shares during the period. Institutional investors and hedge funds own 88.51% of the company’s stock.

Tennant Stock Up 0.9 %

Shares of NYSE TNC opened at $78.44 on Tuesday. The company’s 50-day simple moving average is $70.08 and its 200-day simple moving average is $67.23. Tennant has a 52-week low of $54.90 and a 52-week high of $80.52. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 18.28 and a beta of 1.10. The company has a quick ratio of 1.48, a current ratio of 2.27 and a debt-to-equity ratio of 0.60.

Tennant (NYSE:TNC – Get Rating) last posted its quarterly earnings results on Friday, April 28th. The industrial products company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.61. The firm had revenue of $305.80 million for the quarter, compared to the consensus estimate of $272.53 million. Tennant had a net margin of 7.04% and a return on equity of 19.69%. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period last year, the firm posted $0.73 earnings per share. Equities analysts predict that Tennant will post 4.1 EPS for the current fiscal year.

Tennant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Tuesday, May 30th. Tennant’s dividend payout ratio is currently 24.71%.

Insider Transactions at Tennant

In other news, Director Donal L. Mulligan sold 2,320 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $68.38, for a total value of $158,641.60. Following the transaction, the director now directly owns 15,268 shares of the company’s stock, valued at $1,044,025.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TNC. EF Hutton Acquisition Co. I reiterated a “buy” rating and issued a $98.00 target price on shares of Tennant in a research report on Friday, February 24th. StockNews.com began coverage on shares of Tennant in a research report on Thursday, May 18th. They issued a “strong-buy” rating on the stock.

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.