James Jr. Glerum Purchases 8,163 Shares of Tennant (NYSE:TNC) Stock

Tennant Company (NYSE:TNC) Director James Jr. Glerum purchased 8,163 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was acquired at an average cost of $61.25 per share, for a total transaction of $499,983.75. Following the completion of the purchase, the director owned 8,600 shares of the company’s stock, valued at approximately $526,750. This trade represents a 1,867.96% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tennant Stock Down 0.1%

NYSE TNC traded down $0.05 during trading hours on Monday, hitting $60.98. The company’s stock had a trading volume of 264,164 shares, compared to its average volume of 169,477. Tennant Company has a 52 week low of $60.17 and a 52 week high of $87.72. The company has a market capitalization of $1.09 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 1.81 and a beta of 1.07. The company’s 50-day simple moving average is $77.13 and its two-hundred day simple moving average is $78.02. The company has a current ratio of 2.05, a quick ratio of 1.37 and a debt-to-equity ratio of 0.45.

Tennant Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.24 annualized dividend and a yield of 2.0%. Tennant’s dividend payout ratio (DPR) is 52.99%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank raised its stake in shares of Tennant by 1.2% in the third quarter. Comerica Bank now owns 12,290 shares of the industrial products company’s stock worth $996,000 after buying an additional 144 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Tennant by 2.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 6,115 shares of the industrial products company’s stock worth $451,000 after acquiring an additional 148 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Tennant by 85.1% during the 4th quarter. Hantz Financial Services Inc. now owns 385 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 177 shares during the last quarter. Swiss National Bank boosted its stake in Tennant by 0.6% during the third quarter. Swiss National Bank now owns 34,300 shares of the industrial products company’s stock valued at $2,780,000 after buying an additional 200 shares during the last quarter. Finally, First Affirmative Financial Network raised its stake in Tennant by 7.2% during the third quarter. First Affirmative Financial Network now owns 3,270 shares of the industrial products company’s stock valued at $265,000 after purchasing an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TNC shares. Wall Street Zen lowered Tennant from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tennant in a research note on Monday, December 29th. Freedom Capital downgraded Tennant from a “strong-buy” rating to a “hold” rating in a report on Thursday. Roth Mkm reaffirmed a “buy” rating and issued a $91.00 target price (down from $107.00) on shares of Tennant in a research report on Wednesday, February 25th. Finally, Zacks Research downgraded Tennant from a “hold” rating to a “strong sell” rating in a report on Thursday. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Tennant has an average rating of “Hold” and an average price target of $91.00.

Tennant Company Profile

Tennant Company is a global provider of solutions that help keep facilities clean, safe and sustainable. The company designs, manufactures and markets a broad range of cleaning machines, chemicals and service programs that address the cleaning needs of customers in diverse industries, including manufacturing, warehousing, food and beverage, healthcare and education. Tennant’s product portfolio encompasses both ride-on and walk-behind floor scrubbers and sweepers, carpet extractors, power brushes, pressure washers and autonomous cleaning machines.

Founded in 1870 and headquartered in Minneapolis, Minnesota, Tennant has grown from a regional manufacturer into a multinational organization with operations in more than 70 countries and sales representation in over 100 markets worldwide.