Tennant (TNC) Shares Sold by Cambridge Trust Co.

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Cambridge Trust Co. reduced its stake in Tennant (NYSE:TNC) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,097 shares of the industrial products company’s stock after selling 473 shares during the quarter. Cambridge Trust Co.’s holdings in Tennant were worth $422,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in TNC. BlackRock Inc. grew its position in shares of Tennant by 4.8% during the 3rd quarter. BlackRock Inc. now owns 2,573,589 shares of the industrial products company’s stock worth $195,465,000 after purchasing an additional 117,405 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Tennant during the 3rd quarter worth approximately $5,774,000. Vanguard Group Inc grew its position in shares of Tennant by 2.4% during the 3rd quarter. Vanguard Group Inc now owns 1,874,622 shares of the industrial products company’s stock worth $142,377,000 after purchasing an additional 43,564 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Tennant by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,874,622 shares of the industrial products company’s stock worth $142,377,000 after purchasing an additional 43,564 shares in the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of Tennant by 2.9% during the 3rd quarter. Clearbridge Investments LLC now owns 852,782 shares of the industrial products company’s stock worth $64,769,000 after purchasing an additional 24,163 shares in the last quarter. 85.91% of the stock is currently owned by hedge funds and other institutional investors.

TNC has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Tennant from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Wednesday, October 24th. ValuEngine lowered shares of Tennant from a “buy” rating to a “hold” rating in a research report on Friday, October 12th.

Shares of NYSE:TNC opened at $60.60 on Friday. Tennant has a 12-month low of $48.97 and a 12-month high of $86.03. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 39.35, a price-to-earnings-growth ratio of 2.53 and a beta of 1.07. The company has a current ratio of 1.84, a quick ratio of 1.25 and a debt-to-equity ratio of 1.03.

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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.

Further Reading: Mutual Funds

Institutional Ownership by Quarter for Tennant (NYSE:TNC)

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