Tennant (NYSE:TNC) Stock Price Crosses Above 200-Day Moving Average of $94.36

Tennant (NYSE:TNC)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $94.36 and traded as high as $119.40. Tennant shares last traded at $116.28, with a volume of 105,860 shares trading hands.

Wall Street Analyst Weigh In

Separately, CL King began coverage on Tennant in a research report on Thursday, December 28th. They set a “buy” rating and a $112.00 price objective for the company.

Tennant Stock Down 0.8 %

The firm has a 50 day moving average of $111.36 and a 200 day moving average of $94.36. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 19.95 and a beta of 1.10. The company has a quick ratio of 1.44, a current ratio of 2.08 and a debt-to-equity ratio of 0.34.

Tennant (NYSE:TNC) last released its earnings results on Thursday, February 22nd. The industrial products company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.27 by $0.65. Tennant had a return on equity of 23.07% and a net margin of 8.81%. The business had revenue of $311.40 million during the quarter, compared to analysts’ expectations of $309.87 million. During the same quarter last year, the firm posted $1.46 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts predict that Tennant will post 6.44 earnings per share for the current year.

Tennant Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.12 dividend on an annualized basis and a yield of 0.96%. Tennant’s dividend payout ratio (DPR) is presently 19.21%.

Insider Buying and Selling at Tennant

In other Tennant news, SVP Kristin A. Erickson sold 556 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $110.00, for a total value of $61,160.00. Following the completion of the sale, the senior vice president now owns 10,698 shares of the company’s stock, valued at $1,176,780. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Carol S. Eicher sold 2,298 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $116.45, for a total value of $267,602.10. Following the transaction, the director now owns 25,540 shares in the company, valued at $2,974,133. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kristin A. Erickson sold 556 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $110.00, for a total value of $61,160.00. Following the completion of the transaction, the senior vice president now owns 10,698 shares in the company, valued at approximately $1,176,780. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,597 shares of company stock valued at $1,953,293. Company insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Captrust Financial Advisors lifted its holdings in shares of Tennant by 15.5% in the second quarter. Captrust Financial Advisors now owns 1,090 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 146 shares in the last quarter. Aigen Investment Management LP lifted its holdings in Tennant by 4.1% during the third quarter. Aigen Investment Management LP now owns 4,424 shares of the industrial products company’s stock worth $328,000 after acquiring an additional 176 shares during the period. Legal & General Group Plc lifted its holdings in Tennant by 0.3% during the fourth quarter. Legal & General Group Plc now owns 53,493 shares of the industrial products company’s stock worth $3,294,000 after acquiring an additional 177 shares during the period. Federated Hermes Inc. lifted its holdings in Tennant by 1.7% during the fourth quarter. Federated Hermes Inc. now owns 10,927 shares of the industrial products company’s stock worth $1,013,000 after acquiring an additional 180 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in Tennant by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,831 shares of the industrial products company’s stock worth $263,000 after acquiring an additional 202 shares during the period. Institutional investors own 93.33% of the company’s stock.

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.