Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Tennant (NYSE:TNC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,804 shares of the industrial products company’s stock, valued at approximately $301,000.
Other large investors also recently made changes to their positions in the company. Amalgamated Bank bought a new position in Tennant during the 2nd quarter worth $230,000. Xact Kapitalforvaltning AB bought a new position in Tennant during the 1st quarter worth $248,000. Koch Industries Inc. bought a new position in Tennant during the 1st quarter worth $296,000. Millennium Management LLC bought a new position in Tennant during the 4th quarter worth $340,000. Finally, Front Row Advisors LLC raised its position in Tennant by 22.2% during the 1st quarter. Front Row Advisors LLC now owns 7,110 shares of the industrial products company’s stock worth $481,000 after purchasing an additional 1,290 shares during the last quarter. 86.38% of the stock is owned by institutional investors and hedge funds.
TNC stock opened at $75.35 on Thursday. Tennant has a 1-year low of $59.00 and a 1-year high of $86.03. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.81 and a quick ratio of 1.25. The stock has a market capitalization of $1.38 billion, a PE ratio of 48.93, a price-to-earnings-growth ratio of 3.71 and a beta of 0.81.
Tennant (NYSE:TNC) last posted its quarterly earnings data on Wednesday, July 25th. The industrial products company reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.29. Tennant had a return on equity of 10.65% and a net margin of 1.48%. The firm had revenue of $292.20 million during the quarter, compared to analyst estimates of $281.03 million. During the same period last year, the company posted $0.60 EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis. analysts expect that Tennant will post 2.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 31st will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Thursday, August 30th. Tennant’s dividend payout ratio (DPR) is presently 54.55%.
Several research analysts recently issued reports on the company. ValuEngine raised Tennant from a “hold” rating to a “buy” rating in a research report on Tuesday, May 22nd. Zacks Investment Research lowered Tennant from a “buy” rating to a “hold” rating in a research report on Thursday, June 28th. Finally, TheStreet raised Tennant from a “c+” rating to a “b” rating in a research report on Thursday, July 26th.
In other news, SVP David W. Huml sold 6,550 shares of Tennant stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $79.57, for a total value of $521,183.50. Following the completion of the transaction, the senior vice president now directly owns 10,213 shares of the company’s stock, valued at approximately $812,648.41. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas Paulson sold 15,000 shares of Tennant stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $78.30, for a total value of $1,174,500.00. Following the completion of the transaction, the chief financial officer now directly owns 40,007 shares of the company’s stock, valued at $3,132,548.10. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.
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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