TNC has been the subject of a number of other reports. Zacks Investment Research lowered shares of Tennant from a buy rating to a hold rating in a research report on Thursday, June 28th. ValuEngine upgraded shares of Tennant from a hold rating to a buy rating in a research report on Monday, July 2nd.
Shares of TNC traded down $1.64 during mid-day trading on Thursday, reaching $64.88. 76,509 shares of the stock traded hands, compared to its average volume of 108,914. The firm has a market capitalization of $1.37 billion, a P/E ratio of 42.13, a price-to-earnings-growth ratio of 3.68 and a beta of 0.73. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.81 and a quick ratio of 1.25. Tennant has a 1 year low of $59.00 and a 1 year high of $86.03.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Thursday, August 30th. Tennant’s dividend payout ratio is currently 54.55%.
In other news, CFO Thomas Paulson sold 15,000 shares of Tennant stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $78.30, for a total transaction of $1,174,500.00. Following the completion of the sale, the chief financial officer now directly owns 40,007 shares of the company’s stock, valued at approximately $3,132,548.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David W. Huml sold 13,416 shares of Tennant stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $75.15, for a total transaction of $1,008,212.40. Following the sale, the senior vice president now directly owns 14,975 shares of the company’s stock, valued at $1,125,371.25. The disclosure for this sale can be found here. Insiders have sold a total of 34,966 shares of company stock valued at $2,703,896 over the last ninety days. 5.60% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of TNC. Meristem LLP purchased a new stake in shares of Tennant in the second quarter worth $208,000. Cambridge Investment Research Advisors Inc. purchased a new position in Tennant during the second quarter valued at $217,000. Amalgamated Bank purchased a new position in Tennant during the second quarter valued at $230,000. Laurion Capital Management LP purchased a new position in Tennant during the second quarter valued at $234,000. Finally, Xact Kapitalforvaltning AB purchased a new position in Tennant during the first quarter valued at $248,000. 86.37% of the stock is owned by institutional investors.
Tennant Company Profile
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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