1 week Ago By Defense World Staff
Norges Bank acquired a new stake in shares of Tennant (NYSE:TNC – Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 127,775 shares of the industrial products company’s stock, valued at approximately $10,417,000. Norges Bank owned approximately 0.
68% of Tennant at the end of the most recent reporting period. Several other large investors also recently added to or reduced their stakes in the stock. Albert D Mason Inc.
raised its stake in shares of Tennant by 1.5% during the fourth quarter. Albert D Mason Inc.
now owns 9,811 shares of the industrial products company’s stock valued at $800,000 after acquiring an additional 145 shares in the last quarter. Franklin Resources Inc. increased its holdings in Tennant by 1.
3% during the 3rd quarter. Franklin Resources Inc. now owns 12,908 shares of the industrial products company’s stock worth $1,213,000 after purchasing an additional 169 shares during the period.
US Bancorp DE raised its position in Tennant by 0.8% during the 4th quarter. US Bancorp DE now owns 29,028 shares of the industrial products company’s stock valued at $2,367,000 after purchasing an additional 224 shares in the last quarter.
UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Tennant by 0.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 43,451 shares of the industrial products company’s stock worth $4,173,000 after buying an additional 239 shares during the period.
Finally, TD Private Client Wealth LLC grew its position in shares of Tennant by 43.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 839 shares of the industrial products company’s stock worth $81,000 after buying an additional 255 shares in the last quarter.
93.33% of the stock is owned by hedge funds and other institutional investors. Tennant Stock Down 2.
3 %Shares of NYSE TNC opened at $69.71 on Wednesday. Tennant has a 12-month low of $69.
08 and a 12-month high of $122.07. The stock’s fifty day simple moving average is $83.
53 and its two-hundred day simple moving average is $86.05. The stock has a market capitalization of $1.
31 billion, a PE ratio of 15.92 and a beta of 0.97.
The company has a current ratio of 1.97, a quick ratio of 1.43 and a debt-to-equity ratio of 0.
32. Tennant (NYSE:TNC – Get Free Report) last issued its quarterly earnings data on Monday, February 17th. The industrial products company reported $1.
52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13.
The company had revenue of $328.90 million for the quarter, compared to the consensus estimate of $324.00 million.
Tennant had a return on equity of 19.98% and a net margin of 6.51%.
As a group, analysts expect that Tennant will post 5.89 EPS for the current fiscal year. Tennant Announces DividendThe company also recently announced a quarterly dividend, which was paid on Friday, March 14th.
Investors of record on Friday, February 28th were given a dividend of $0.295 per share. The ex-dividend date of this dividend was Friday, February 28th.
This represents a $1.18 dividend on an annualized basis and a yield of 1.69%.
Tennant’s payout ratio is 26.94%. Tennant announced that its Board of Directors has approved a share buyback program on Thursday, February 13th that permits the company to buyback 2,000,000 shares.
This buyback authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued. Wall Street Analysts Forecast GrowthA number of research firms recently weighed in on TNC.
StockNews.com lowered shares of Tennant from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 27th. Northcoast Research assumed coverage on shares of Tennant in a research report on Thursday, December 19th.
They issued a “buy” rating and a $125.00 price target for the company.Read Our Latest Research Report on TennantInsider Buying and Selling at TennantIn other Tennant news, SVP Barb Balinski sold 1,717 shares of the firm’s stock in a transaction dated Friday, February 28th.
The stock was sold at an average price of $86.42, for a total value of $148,383.14.
Following the completion of the sale, the senior vice president now owns 11,829 shares of the company’s stock, valued at approximately $1,022,262.18. This trade represents a 12.
68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard H.
Zay sold 7,053 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $87.58, for a total transaction of $617,701.
74. Following the transaction, the insider now owns 25,770 shares in the company, valued at approximately $2,256,936.60.
This trade represents a 21.49 % decrease in their position. The disclosure for this sale can be found here.
2.60% of the stock is owned by insiders. Tennant Company Profile (Free Report)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, and asset management solutions.Recommended StoriesFive stocks we like better than TennantRide Out The Recession With These Dividend Kings Tariff-Proof Stocks: 3 Big Bargains With Huge Upside PotentialTransportation Stocks InvestingQualcomm Breaks Down But RSI Signals It’s Severely OversoldWhat Does a Stock Split Mean? Tesla’s #1 Bull Cuts Target But Says It’s Still a Buy.
