Tennant (NYSE:TNC) Shares Sold by Access Financial Services Inc.

Access Financial Services Inc. cut its stake in shares of Tennant (NYSE:TNC) by 47.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,720 shares of the industrial products company’s stock after selling 4,200 shares during the period. Access Financial Services Inc.’s holdings in Tennant were worth $437,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. 1832 Asset Management L.P. increased its position in shares of Tennant by 69.2% during the second quarter. 1832 Asset Management L.P. now owns 379 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 155 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Tennant by 333.0% in the second quarter. Point72 Asset Management L.P. now owns 433 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 333 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in shares of Tennant by 142.4% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 652 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 383 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Tennant in the first quarter valued at approximately $53,000. Finally, Advisor Group Holdings Inc. boosted its stake in shares of Tennant by 181.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 780 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 503 shares during the period. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, CL King began coverage on shares of Tennant in a research note on Thursday, December 28th. They issued a “buy” rating and a $112.00 price objective for the company.

Tennant Trading Down 0.0 %

NYSE TNC opened at $121.45 on Friday. The firm has a 50 day simple moving average of $105.29 and a 200-day simple moving average of $90.68. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.44 and a current ratio of 2.08. Tennant has a one year low of $64.88 and a one year high of $123.21. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 20.83 and a beta of 1.09.

Tennant (NYSE:TNC) last issued its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.65. Tennant had a net margin of 8.81% and a return on equity of 23.07%. The company had revenue of $311.40 million during the quarter, compared to the consensus estimate of $309.87 million. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. Equities research analysts anticipate that Tennant will post 6.44 EPS for the current fiscal year.

Tennant Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.28 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $1.12 dividend on an annualized basis and a yield of 0.92%. Tennant’s dividend payout ratio is currently 19.21%.

Insider Buying and Selling

In related news, insider Richard H. Zay sold 14,743 shares of Tennant stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $110.19, for a total value of $1,624,531.17. Following the completion of the transaction, the insider now owns 11,095 shares in the company, valued at $1,222,558.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Kristin A. Erickson sold 556 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $110.00, for a total transaction of $61,160.00. Following the completion of the sale, the senior vice president now owns 10,698 shares in the company, valued at approximately $1,176,780. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard H. Zay sold 14,743 shares of the business’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 transaction of $1,624,531.17. Following the sale, the insider now owns 11,095 shares of the company’s stock, valued at approximately $1,222,558.05. The disclosure for this sale can be found here. Insiders sold 17,597 shares of company stock worth $1,953,293 over the last 90 days. 2.60% of the stock is owned by insiders.

About Tennant

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.