Tennant (TNC) Insider Thomas Paulson Sells 6,694 Shares

Tennant (NYSE:TNC) insider Thomas Paulson sold 6,694 shares of Tennant stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $72.90, for a total transaction of $487,992.60. Following the sale, the insider now owns 24,035 shares in the company, valued at $1,752,151.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Tennant (NYSE TNC) opened at $73.50 on Friday. Tennant has a 1-year low of $60.05 and a 1-year high of $76.80. The stock has a market cap of $1,305.84, a PE ratio of 108.09, a P/E/G ratio of 3.20 and a beta of 1.04. The company has a current ratio of 2.09, a quick ratio of 1.39 and a debt-to-equity ratio of 1.29.

Tennant (NYSE:TNC) last announced its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.29). Tennant had a net margin of 1.32% and a return on equity of 13.07%. The firm had revenue of $261.92 million for the quarter, compared to the consensus estimate of $252.13 million. During the same period in the prior year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was up 30.9% on a year-over-year basis. equities analysts predict that Tennant will post 1.56 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, November 29th. Tennant’s dividend payout ratio is currently 123.53%.

A number of hedge funds have recently made changes to their positions in the stock. Martin & Co. Inc. TN lifted its holdings in Tennant by 62.1% during the 3rd quarter. Martin & Co. Inc. TN now owns 26,590 shares of the industrial products company’s stock valued at $1,760,000 after purchasing an additional 10,185 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Tennant during the 3rd quarter valued at about $221,000. Granahan Investment Management Inc. MA lifted its holdings in Tennant by 5.9% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 110,624 shares of the industrial products company’s stock valued at $7,323,000 after purchasing an additional 6,155 shares during the last quarter. Magnetar Financial LLC bought a new position in Tennant during the 3rd quarter valued at about $204,000. Finally, Engineers Gate Manager LP bought a new position in Tennant during the 3rd quarter valued at about $891,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Tennant from a “strong sell” rating to a “hold” rating in a research report on Saturday. Dougherty & Co reiterated a “neutral” rating on shares of Tennant in a research report on Sunday, November 12th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Tennant has a consensus rating of “Hold” and a consensus price target of $65.00.

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Tennant Company Profile

Tennant Company is engaged in designing, manufacturing and marketing of cleaning solutions. The Company’s segments are Americas; Europe, Middle East, Africa, and Asia Pacific. The Company offers a range of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, specialty surface coatings and asset management solutions.

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