State of Tennessee Treasury Department Acquires 782 Shares of Tennant (NYSE:TNC)

State of Tennessee Treasury Department grew its holdings in Tennant (NYSE:TNC) by 6.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,585 shares of the industrial products company’s stock after acquiring an additional 782 shares during the period. State of Tennessee Treasury Department’s holdings in Tennant were worth $960,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TNC. Tower Research Capital LLC TRC raised its position in Tennant by 237.0% in the second quarter. Tower Research Capital LLC TRC now owns 674 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 474 shares during the period. Royal Bank of Canada raised its position in Tennant by 264.7% in the second quarter. Royal Bank of Canada now owns 755 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 548 shares during the period. Bessemer Group Inc. bought a new position in Tennant in the second quarter worth approximately $49,000. Russell Investments Group Ltd. bought a new position in Tennant in the second quarter worth approximately $71,000. Finally, Stonebridge Capital Advisors LLC bought a new position in Tennant in the second quarter worth approximately $104,000. Institutional investors and hedge funds own 83.44% of the company’s stock.

A number of analysts have recently issued reports on TNC shares. TheStreet raised shares of Tennant from a “c+” rating to a “b” rating in a research note on Wednesday, July 31st. Zacks Investment Research cut shares of Tennant from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Finally, ValuEngine cut shares of Tennant from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th.

In related news, Director Steven Alan Sonnenberg sold 4,281 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $78.49, for a total transaction of $336,015.69. Following the completion of the transaction, the director now directly owns 19,102 shares of the company’s stock, valued at $1,499,315.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Chris Killingstad sold 2,200 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $68.00, for a total transaction of $149,600.00. Following the transaction, the chief executive officer now directly owns 157,365 shares of the company’s stock, valued at $10,700,820. The disclosure for this sale can be found here. Insiders have sold 47,628 shares of company stock valued at $3,498,168 over the last ninety days. 5.60% of the stock is currently owned by corporate insiders.

Shares of NYSE TNC opened at $77.20 on Thursday. The firm has a fifty day moving average price of $71.75 and a 200-day moving average price of $66.49. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.78 and a quick ratio of 1.18. The stock has a market cap of $1.42 billion, a PE ratio of 35.41 and a beta of 1.23. Tennant has a 1 year low of $48.97 and a 1 year high of $79.63.

Tennant (NYSE:TNC) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.18. The firm had revenue of $280.70 million during the quarter, compared to analysts’ expectations of $285.90 million. Tennant had a net margin of 3.77% and a return on equity of 15.75%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 earnings per share. On average, research analysts expect that Tennant will post 2.83 EPS for the current year.

Tennant Profile

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.

Recommended Story: Day Trading

Want to see what other hedge funds are holding TNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tennant (NYSE:TNC).

Institutional Ownership by Quarter for Tennant (NYSE:TNC)

Receive News & Ratings for Tennant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tennant and related companies with MarketBeat.com's FREE daily email newsletter.