1 day Ago By ABMN Staff
American Century Companies Inc. lowered its holdings in Tennant ( NYSE:TNC – Free Report ) by 0.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission.
The firm owned 154,368 shares of the industrial products company’s stock after selling 187 shares during the period. American Century Companies Inc. owned approximately 0.
82% of Tennant worth $12,586,000 at the end of the most recent quarter. A number of other institutional investors and hedge funds have also recently made changes to their positions in TNC. Raymond James Financial Inc.
acquired a new stake in shares of Tennant in the fourth quarter valued at approximately $5,830,000. Lightrock Netherlands B.V.
acquired a new position in Tennant in the 4th quarter valued at $4,957,000. New York State Common Retirement Fund lifted its position in shares of Tennant by 555.4% during the 4th quarter.
New York State Common Retirement Fund now owns 43,514 shares of the industrial products company’s stock valued at $3,548,000 after acquiring an additional 36,875 shares during the period. Barclays PLC grew its holdings in shares of Tennant by 222.8% during the 3rd quarter.
Barclays PLC now owns 40,151 shares of the industrial products company’s stock worth $3,857,000 after purchasing an additional 27,712 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Tennant by 93.
1% in the third quarter. JPMorgan Chase & Co. now owns 48,647 shares of the industrial products company’s stock worth $4,672,000 after purchasing an additional 23,460 shares during the period.
Institutional investors and hedge funds own 93.33% of the company’s stock. Wall Street Analyst Weigh In TNC has been the subject of several recent analyst reports.
StockNews.com cut shares of Tennant from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th. Northcoast Research initiated coverage on shares of Tennant in a research report on Thursday, December 19th.
They set a “buy” rating and a $125.00 price target on the stock. Insider Transactions at Tennant In related news, insider Richard H.
Zay sold 7,053 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $87.58, for a total value of $617,701.
74. Following the completion of the transaction, the insider now owns 25,770 shares in the company, valued at $2,256,936.60.
This trade represents a 21.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink .
Also, SVP Barb Balinski sold 1,717 shares of Tennant stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $86.42, for a total transaction of $148,383.
14. Following the sale, the senior vice president now owns 11,829 shares in the company, valued at approximately $1,022,262.18.
This represents a 12.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here .
Company insiders own 2.60% of the company’s stock. Tennant Price Performance Tennant stock opened at $80.
03 on Wednesday. The stock has a fifty day moving average of $85.03 and a 200-day moving average of $86.
83. The stock has a market capitalization of $1.51 billion, a P/E ratio of 18.
27 and a beta of 1.02. The company has a debt-to-equity ratio of 0.
32, a quick ratio of 1.43 and a current ratio of 1.97.
Tennant has a 52 week low of $78.57 and a 52 week high of $124.11.
Tennant ( NYSE:TNC – Get Free Report ) last posted its earnings results on Monday, February 17th. The industrial products company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.
39 by $0.13. The firm had revenue of $328.
90 million during the quarter, compared to analysts’ expectations of $324.00 million. Tennant had a net margin of 6.
51% and a return on equity of 19.98%. On average, sell-side analysts expect that Tennant will post 5.
89 earnings per share for the current fiscal year. Tennant Announces Dividend The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.
295 per share. The ex-dividend date was Friday, February 28th. This represents a $1.
18 dividend on an annualized basis and a dividend yield of 1.47%. Tennant’s payout ratio is presently 26.
94%. Tennant declared that its Board of Directors has initiated a stock buyback program on Thursday, February 13th that authorizes the company to buyback 2,000,000 shares. This buyback authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases.
Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued. Tennant 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.
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