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Tennant (NYSE:TNC – Get Rating) Director Carol S. Eicher sold 1,580 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $68.50, for a total transaction of $108,230.00. Following the sale, the director now directly owns 22,268 shares of the company’s stock, valued at $1,525,358. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Tennant Trading Down 0.3 %
NYSE:TNC traded down $0.17 during trading hours on Tuesday, hitting $65.75. The stock had a trading volume of 45,902 shares, compared to its average volume of 55,111. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 22.04 and a beta of 1.07. Tennant has a one year low of $54.90 and a one year high of $85.33. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.97. The business’s 50 day moving average is $62.32 and its 200-day moving average is $68.58.
Tennant (NYSE:TNC – Get Rating) last released its quarterly earnings results on Tuesday, August 9th. The industrial products company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.05. The company had revenue of $280.20 million during the quarter, compared to analysts’ expectations of $276.65 million. Tennant had a net margin of 5.18% and a return on equity of 15.82%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.18 earnings per share. Sell-side analysts anticipate that Tennant will post 4.45 EPS for the current fiscal year.
Tennant Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.52%. The ex-dividend date is Tuesday, August 30th. Tennant’s payout ratio is 33.33%.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors boosted its holdings in Tennant by 15.5% during the second quarter. Captrust Financial Advisors now owns 1,090 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 146 shares during the last quarter. Ironwood Investment Management LLC boosted its holdings in Tennant by 2.7% during the fourth quarter. Ironwood Investment Management LLC now owns 7,148 shares of the industrial products company’s stock worth $579,000 after purchasing an additional 188 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in Tennant by 2.3% during the first quarter. New York State Teachers Retirement System now owns 8,848 shares of the industrial products company’s stock worth $697,000 after purchasing an additional 200 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Tennant by 0.8% during the fourth quarter. SG Americas Securities LLC now owns 25,478 shares of the industrial products company’s stock worth $2,065,000 after purchasing an additional 211 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in Tennant by 45.7% during the second quarter. First Horizon Advisors Inc. now owns 721 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 226 shares during the last quarter. Institutional investors and hedge funds own 87.37% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, StockNews.com downgraded shares of Tennant from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 11th.
About Tennant
(Get Rating)
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, specialty surface coatings, and asset management solutions.
Read More
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