9,200 Shares in Tennant (NYSE:TNC) Bought by Strs Ohio

Strs Ohio purchased a new stake in Tennant (NYSE:TNC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,200 shares of the industrial products company’s stock, valued at approximately $852,000.

Other large investors have also recently added to or reduced their stakes in the company. Aigen Investment Management LP raised its stake in shares of Tennant by 4.1% in the 3rd quarter. Aigen Investment Management LP now owns 4,424 shares of the industrial products company’s stock valued at $328,000 after purchasing an additional 176 shares in the last quarter. Inspire Investing LLC lifted its holdings in Tennant by 6.6% during the 3rd quarter. Inspire Investing LLC now owns 4,229 shares of the industrial products company’s stock worth $314,000 after buying an additional 260 shares during the last quarter. Swiss National Bank grew its position in shares of Tennant by 0.8% in the 3rd quarter. Swiss National Bank now owns 38,700 shares of the industrial products company’s stock worth $2,870,000 after acquiring an additional 300 shares in the last quarter. Jump Financial LLC grew its position in shares of Tennant by 2.8% in the 3rd quarter. Jump Financial LLC now owns 13,475 shares of the industrial products company’s stock worth $999,000 after acquiring an additional 373 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its holdings in shares of Tennant by 142.4% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 652 shares of the industrial products company’s stock valued at $60,000 after acquiring an additional 383 shares during the last quarter. 93.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Tennant Price Performance

Shares of TNC opened at $117.31 on Thursday. Tennant has a 12 month low of $64.88 and a 12 month high of $124.11. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.08 and a quick ratio of 1.44. The stock has a fifty day moving average price of $114.34 and a 200 day moving average price of $96.51. The company has a market cap of $2.23 billion, a P/E ratio of 20.12 and a beta of 1.10.

Tennant (NYSE:TNC) last released its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.65. Tennant had a return on equity of 23.07% and a net margin of 8.81%. The company had revenue of $311.40 million for the quarter, compared to analysts’ expectations of $309.87 million. During the same quarter in the previous year, the company posted $1.46 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, research analysts forecast that Tennant will post 6.44 earnings per share for the current year.

Tennant Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Wednesday, February 28th. Tennant’s dividend payout ratio (DPR) is 19.21%.

Insider Activity at Tennant

In related news, SVP Kristin A. Erickson sold 556 shares of the stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Richard H. Zay sold 14,743 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $110.19, for a total transaction of $1,624,531.17. Following the completion of the sale, the insider now directly owns 11,095 shares in the company, valued at $1,222,558.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kristin A. Erickson sold 556 shares of Tennant stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $110.00, for a total transaction 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. Insiders have sold a total of 17,597 shares of company stock worth $1,953,293 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Tennant 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.