First Affirmative Financial Network acquired a new position in shares of Tennant (NYSE:TNC – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,850 shares of the industrial products company’s stock, valued at approximately $231,000.
Several other institutional investors have also recently made changes to their positions in the company. Turtle Creek Asset Management Inc. purchased a new position in Tennant during the first quarter worth about $41,000. Advisor Group Holdings Inc. grew its holdings in shares of Tennant by 181.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 780 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 503 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Tennant in the first quarter valued at approximately $53,000. Captrust Financial Advisors increased its position in shares of 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 acquiring an additional 146 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Tennant by 42.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,732 shares of the industrial products company’s stock worth $162,000 after acquiring an additional 819 shares during the period. Institutional investors own 91.14% of the company’s stock.
Insider Activity at Tennant
In other Tennant news, Director Steven Alan Sonnenberg sold 1,765 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $83.24, for a total transaction of $146,918.60. Following the completion of the transaction, the director now owns 22,994 shares in the company, valued at $1,914,020.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Tennant news, Director Steven Alan Sonnenberg sold 1,765 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $83.24, for a total transaction of $146,918.60. Following the sale, the director now owns 22,994 shares in the company, valued at $1,914,020.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David W. Huml sold 4,599 shares of Tennant stock in a transaction on Monday, August 14th. The shares were sold at an average price of $83.83, for a total value of $385,534.17. Following the completion of the transaction, the chief executive officer now owns 40,531 shares of the company’s stock, valued at $3,397,713.73. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,923 shares of company stock worth $1,009,359. Company insiders own 2.60% of the company’s stock.
Wall Street Analysts Forecast Growth
Tennant Stock Down 1.0 %
TNC opened at $76.74 on Friday. Tennant has a twelve month low of $56.04 and a twelve month high of $87.53. The company’s 50-day moving average price is $80.84 and its two-hundred day moving average price is $76.01. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 15.11 and a beta of 1.11. The company has a quick ratio of 1.52, a current ratio of 2.29 and a debt-to-equity ratio of 0.52.
Tennant (NYSE:TNC – Get Free Report) last posted its quarterly earnings data on Friday, August 4th. The industrial products company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.16 by $0.70. Tennant had a return on equity of 22.49% and a net margin of 8.04%. The business had revenue of $321.70 million for the quarter, compared to the consensus estimate of $291.67 million. During the same quarter in the prior year, the business earned $0.92 earnings per share. Tennant’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities analysts expect that Tennant will post 5.43 earnings per share for the current year.
Tennant Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.38%. The ex-dividend date was Wednesday, August 30th. Tennant’s dividend payout ratio (DPR) is currently 20.87%.
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.
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