BNP Paribas Arbitrage SA Lowers Stake in Tennant (TNC)

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BNP Paribas Arbitrage SA reduced its stake in shares of Tennant (NYSE:TNC) by 20.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,829 shares of the industrial products company’s stock after selling 1,521 shares during the period. BNP Paribas Arbitrage SA’s holdings in Tennant were worth $395,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Elkfork Partners LLC acquired a new stake in shares of Tennant during the fourth quarter worth $155,000. Brown Advisory Inc. acquired a new stake in shares of Tennant during the fourth quarter worth $291,000. Millennium Management LLC acquired a new stake in shares of Tennant during the fourth quarter worth $340,000. Teacher Retirement System of Texas acquired a new position in Tennant during the fourth quarter valued at $445,000. Finally, Stone Ridge Asset Management LLC acquired a new position in Tennant during the fourth quarter valued at $525,000. Institutional investors and hedge funds own 86.84% of the company’s stock.

In related news, insider Thomas Paulson sold 10,575 shares of the business’s stock in a transaction on Monday, April 23rd. The shares were sold at an average price of $73.19, for a total transaction of $773,984.25. Following the completion of the transaction, the insider now directly owns 35,582 shares in the company, valued at $2,604,246.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David W. Huml sold 415 shares of the business’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $72.99, for a total transaction of $30,290.85. Following the transaction, the vice president now owns 7,569 shares of the company’s stock, valued at $552,461.31. The disclosure for this sale can be found here. Insiders have sold 69,649 shares of company stock valued at $4,833,364 over the last 90 days. 5.60% of the stock is currently owned by insiders.

NYSE TNC opened at $78.05 on Thursday. The firm has a market cap of $1.37 billion, a P/E ratio of 50.68, a price-to-earnings-growth ratio of 3.77 and a beta of 0.86. Tennant has a 1 year low of $59.00 and a 1 year high of $82.20. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.80 and a quick ratio of 1.22.

Tennant (NYSE:TNC) last posted its earnings results on Monday, April 23rd. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. The company had revenue of $272.80 million during the quarter, compared to the consensus estimate of $251.93 million. Tennant had a net margin of 0.10% and a return on equity of 9.27%. The firm’s quarterly revenue was up 42.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 earnings per share. equities analysts predict that Tennant will post 2.02 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Thursday, May 31st were given a dividend of $0.21 per share. The ex-dividend date was Wednesday, May 30th. This represents a $0.84 dividend on an annualized basis and a yield of 1.08%. Tennant’s dividend payout ratio is presently 54.55%.

A number of research analysts recently issued reports on TNC shares. Zacks Investment Research upgraded shares of Tennant from a “sell” rating to a “hold” rating in a research report on Thursday, April 26th. ValuEngine upgraded shares of Tennant from a “hold” rating to a “buy” rating in a research report on Tuesday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold”.

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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Institutional Ownership by Quarter for Tennant (NYSE:TNC)

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