Tennant (NYSE:TNC) CEO Chris Killingstad Sells 2,200 Shares

Tennant (NYSE:TNC) CEO Chris Killingstad sold 2,200 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $68.00, for a total value of $149,600.00. Following the sale, the chief executive officer now owns 157,365 shares of the company’s stock, valued at $10,700,820. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Chris Killingstad also recently made the following trade(s):

  • On Thursday, August 1st, Chris Killingstad sold 12,843 shares of Tennant stock. The shares were sold at an average price of $73.34, for a total value of $941,905.62.
  • On Tuesday, July 16th, Chris Killingstad sold 12,843 shares of Tennant stock. The shares were sold at an average price of $66.29, for a total value of $851,362.47.
  • On Tuesday, June 18th, Chris Killingstad sold 12,843 shares of Tennant stock. The shares were sold at an average price of $61.64, for a total value of $791,642.52.

TNC stock traded up $1.00 on Monday, reaching $68.25. The company’s stock had a trading volume of 69,927 shares, compared to its average volume of 75,410. The firm has a market cap of $1.22 billion, a PE ratio of 31.31 and a beta of 1.24. The business has a fifty day simple moving average of $67.83 and a two-hundred day simple moving average of $63.72. Tennant has a 12-month low of $48.97 and a 12-month high of $79.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.23 and a current ratio of 1.85.

Tennant (NYSE:TNC) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.34. Tennant had a net margin of 3.35% and a return on equity of 15.61%. The business had revenue of $299.70 million for the quarter, compared to the consensus estimate of $301.00 million. During the same period in the previous year, the firm earned $0.82 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, research analysts anticipate that Tennant will post 2.69 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a $0.22 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.29%. Tennant’s dividend payout ratio is 40.37%.

Several research firms have weighed in on TNC. TheStreet upgraded Tennant from a “c+” rating to a “b” rating in a report on Wednesday, July 31st. ValuEngine cut Tennant from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd.

Several institutional investors and hedge funds have recently made changes to their positions in TNC. Dimensional Fund Advisors LP grew its holdings in shares of Tennant by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 653,327 shares of the industrial products company’s stock worth $34,045,000 after purchasing an additional 33,015 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Tennant by 4.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 7,878 shares of the industrial products company’s stock worth $489,000 after purchasing an additional 300 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Tennant by 578.9% in the first quarter. BNP Paribas Arbitrage SA now owns 4,128 shares of the industrial products company’s stock worth $256,000 after purchasing an additional 3,520 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Tennant in the first quarter worth about $359,000. Finally, Quantamental Technologies LLC lifted its stake in shares of Tennant by 79.9% during the 1st quarter. Quantamental Technologies LLC now owns 894 shares of the industrial products company’s stock valued at $56,000 after buying an additional 397 shares in the last quarter. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

About Tennant

Tennant Company designs, manufactures, and markets floor cleaning equipment worldwide. The company 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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