Insider Selling: Tennant (NYSE:TNC) CEO Sells $941,905.62 in Stock

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Tennant (NYSE:TNC) CEO Chris Killingstad sold 12,843 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $73.34, for a total value of $941,905.62. Following the transaction, the chief executive officer now owns 168,008 shares of the company’s stock, valued at $12,321,706.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Chris Killingstad also recently made the following trade(s):

  • On Tuesday, July 16th, Chris Killingstad sold 12,843 shares of Tennant stock. The stock was sold at an average price of $66.29, for a total value of $851,362.47.
  • On Tuesday, June 18th, Chris Killingstad sold 12,843 shares of Tennant stock. The stock was sold at an average price of $61.64, for a total value of $791,642.52.

Shares of TNC stock opened at $68.96 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.85 and a debt-to-equity ratio of 1.03. Tennant has a 1 year low of $48.97 and a 1 year high of $80.65. The stock’s fifty day simple moving average is $64.24. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 31.63 and a beta of 1.17.

Tennant (NYSE:TNC) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.34. Tennant had a return on equity of 15.61% and a net margin of 3.35%. The company had revenue of $299.70 million during the quarter, compared to analyst estimates of $301.00 million. During the same quarter in the previous year, the firm posted $0.82 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, analysts predict that Tennant will post 2.75 EPS for the current year.

Hedge funds have recently made changes to their positions in the business. Lido Advisors LLC acquired a new position in Tennant during the 1st quarter worth $2,207,000. Prentiss Smith & Co. Inc. acquired a new position in Tennant during the 2nd quarter worth $3,268,000. Nisa Investment Advisors LLC boosted its position in Tennant by 109.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,710 shares of the industrial products company’s stock worth $411,000 after acquiring an additional 3,500 shares during the period. Millennium Management LLC boosted its position in Tennant by 31.3% during the 4th quarter. Millennium Management LLC now owns 68,229 shares of the industrial products company’s stock worth $3,555,000 after acquiring an additional 16,267 shares during the period. Finally, Norges Bank acquired a new position in Tennant during the 4th quarter worth $10,132,000. Institutional investors own 84.58% of the company’s stock.

A number of research analysts recently commented on TNC shares. Zacks Investment Research downgraded Tennant from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. ValuEngine upgraded Tennant from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, TheStreet upgraded Tennant from a “c+” rating to a “b” rating in a research note on Wednesday, July 31st.

Tennant Company Profile

Tennant Company designs, manufactures, and markets floor cleaning equipment worldwide. The company 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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Insider Buying and Selling by Quarter for Tennant (NYSE:TNC)

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