Several other analysts have also weighed in on TNC. Zacks Investment Research lowered Tennant from a buy rating to a hold rating in a report on Thursday, June 28th. ValuEngine upgraded Tennant from a hold rating to a buy rating in a report on Monday, July 2nd.
NYSE:TNC opened at $64.88 on Thursday. Tennant has a fifty-two week low of $59.00 and a fifty-two week high of $86.03. The firm has a market cap of $1.37 billion, a P/E ratio of 42.13, a P/E/G ratio of 3.68 and a beta of 0.73. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.25 and a current ratio of 1.81.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were paid a $0.21 dividend. The ex-dividend date was Thursday, August 30th. This represents a $0.84 dividend on an annualized basis and a yield of 1.29%. Tennant’s payout ratio is 54.55%.
In other Tennant news, SVP David W. Huml sold 13,416 shares of the stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $75.15, for a total value of $1,008,212.40. Following the sale, the senior vice president now owns 14,975 shares in the company, valued at $1,125,371.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP David W. Huml sold 6,550 shares of the stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $79.57, for a total value of $521,183.50. Following the completion of the sale, the senior vice president now owns 10,213 shares in the company, valued at approximately $812,648.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,966 shares of company stock worth $2,703,896. Insiders own 5.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Tennant by 8.4% in the second quarter. BlackRock Inc. now owns 2,456,184 shares of the industrial products company’s stock worth $194,039,000 after purchasing an additional 190,680 shares during the period. Northern Trust Corp grew its position in shares of Tennant by 3.2% during the 2nd quarter. Northern Trust Corp now owns 240,395 shares of the industrial products company’s stock worth $18,992,000 after buying an additional 7,520 shares in the last quarter. Voya Investment Management LLC grew its position in shares of Tennant by 0.8% during the 2nd quarter. Voya Investment Management LLC now owns 202,461 shares of the industrial products company’s stock worth $15,994,000 after buying an additional 1,663 shares in the last quarter. BTIM Corp. bought a new position in shares of Tennant during the 2nd quarter worth $12,783,000. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Tennant by 7.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 153,731 shares of the industrial products company’s stock worth $12,145,000 after buying an additional 11,090 shares in the last quarter. Institutional investors and hedge funds own 86.37% of the company’s stock.
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.
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