Insider Selling: Tennant (NYSE:TNC) CFO Sells 9,296 Shares of Stock

Tennant (NYSE:TNC) CFO Thomas Paulson sold 9,296 shares of the stock in a transaction on Friday, April 6th. The stock was sold at an average price of $69.08, for a total value of $642,167.68. Following the completion of the transaction, the chief financial officer now directly owns 35,582 shares in the company, valued at $2,458,004.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Thomas Paulson also recently made the following trade(s):

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  • On Thursday, January 11th, Thomas Paulson sold 6,694 shares of Tennant stock. The shares were sold at an average price of $72.90, for a total value of $487,992.60.

NYSE:TNC traded up $1.70 during mid-day trading on Tuesday, reaching $70.95. The stock had a trading volume of 175,519 shares, compared to its average volume of 129,422. The company has a market capitalization of $1,225.77, a price-to-earnings ratio of 46.07, a price-to-earnings-growth ratio of 3.62 and a beta of 0.85. Tennant has a 1-year low of $59.00 and a 1-year high of $76.80. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.25 and a current ratio of 1.79.

Tennant (NYSE:TNC) last posted its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.01). Tennant had a positive return on equity of 9.68% and a negative net margin of 0.62%. The firm had revenue of $279.30 million during the quarter, compared to analyst estimates of $262.13 million. During the same quarter last year, the business posted $0.85 earnings per share. The firm’s revenue for the quarter was up 31.9% on a year-over-year basis. equities research analysts forecast that Tennant will post 1.89 EPS for the current fiscal year.

TNC has been the subject of several recent analyst reports. Zacks Investment Research upgraded Tennant from a “strong sell” rating to a “hold” rating in a research note on Saturday, January 13th. Dougherty & Co upgraded Tennant from a “neutral” rating to a “buy” rating in a research note on Monday, February 26th.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Tennant by 4.1% in the fourth quarter. BlackRock Inc. now owns 2,232,831 shares of the industrial products company’s stock worth $162,216,000 after acquiring an additional 88,731 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its holdings in shares of Tennant by 24.6% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,914,014 shares of the industrial products company’s stock valued at $139,053,000 after buying an additional 377,347 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Tennant by 8.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 808,131 shares of the industrial products company’s stock valued at $58,711,000 after buying an additional 66,154 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Tennant by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 146,774 shares of the industrial products company’s stock valued at $10,663,000 after buying an additional 1,338 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Tennant by 11.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 131,775 shares of the industrial products company’s stock valued at $9,574,000 after buying an additional 13,087 shares during the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

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About Tennant

Tennant Company designs, manufactures, and markets floor cleaning equipment. It offers a suite of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, specialty surface coatings, and asset management solutions.

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