SFE Investment Counsel Sells 681 Shares of Tennant (NYSE:TNC)

SFE Investment Counsel decreased its holdings in Tennant (NYSE:TNC) by 3.2% during the 4th quarter, HoldingsChannel reports. The firm owned 20,857 shares of the industrial products company’s stock after selling 681 shares during the quarter. SFE Investment Counsel’s holdings in Tennant were worth $1,933,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Graham Capital Management L.P. bought a new position in shares of Tennant in the 3rd quarter valued at $799,000. Charles Schwab Investment Management Inc. increased its stake in shares of Tennant by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 226,957 shares of the industrial products company’s stock valued at $16,829,000 after purchasing an additional 4,805 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Tennant by 174.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 51,153 shares of the industrial products company’s stock valued at $3,793,000 after purchasing an additional 32,483 shares during the last quarter. Invesco Ltd. grew its position in Tennant by 57.8% during the 3rd quarter. Invesco Ltd. now owns 115,739 shares of the industrial products company’s stock worth $8,582,000 after acquiring an additional 42,407 shares during the last quarter. Finally, Tudor Investment Corp Et Al grew its position in Tennant by 539.4% during the 3rd quarter. Tudor Investment Corp Et Al now owns 46,734 shares of the industrial products company’s stock worth $3,465,000 after acquiring an additional 39,425 shares during the last quarter. Institutional investors own 93.33% of the company’s stock.

Insider Activity

In other news, Director Carol S. Eicher sold 2,298 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $116.45, for a total value of $267,602.10. Following the transaction, the director now directly owns 25,540 shares of the company’s stock, valued at approximately $2,974,133. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Carol S. Eicher sold 2,298 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $116.45, for a total transaction of $267,602.10. Following the transaction, the director now directly owns 25,540 shares of the company’s stock, valued at approximately $2,974,133. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Richard H. Zay sold 14,743 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $110.19, for a total value of $1,624,531.17. Following the transaction, the insider now directly owns 11,095 shares in the company, valued at $1,222,558.05. The disclosure for this sale can be found here. Insiders have sold 17,597 shares of company stock valued at $1,953,293 in the last ninety days. 2.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Tennant Trading Down 0.3 %

TNC traded down $0.35 during midday trading on Thursday, hitting $115.31. 30,340 shares of the company were exchanged, compared to its average volume of 137,467. The firm has a market capitalization of $2.19 billion, a P/E ratio of 19.86 and a beta of 1.10. Tennant has a 1-year low of $64.88 and a 1-year high of $124.11. The firm’s 50 day moving average price is $112.54 and its 200-day moving average price is $95.08. The company has a quick ratio of 1.44, a current ratio of 2.08 and a debt-to-equity ratio of 0.34.

Tennant (NYSE:TNC) last announced its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.65. The company had revenue of $311.40 million for the quarter, compared to the consensus estimate of $309.87 million. Tennant had a return on equity of 23.07% and a net margin of 8.81%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 EPS. As a group, equities analysts forecast that Tennant will post 6.44 EPS for the current fiscal year.

Tennant Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Wednesday, February 28th. Tennant’s dividend payout ratio is 19.21%.

Tennant Company 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.