Zeke Capital Advisors LLC boosted its position in shares of Tennant (NYSE:TNC) by 57.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,501 shares of the industrial products company’s stock after acquiring an additional 3,827 shares during the period. Zeke Capital Advisors LLC owned 0.06% of Tennant worth $763,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of TNC. ArrowMark Colorado Holdings LLC grew its stake in Tennant by 24.6% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,914,014 shares of the industrial products company’s stock valued at $139,053,000 after acquiring an additional 377,347 shares in the last quarter. BlackRock Inc. grew its stake in Tennant by 4.1% during the fourth quarter. BlackRock Inc. now owns 2,232,831 shares of the industrial products company’s stock valued at $162,216,000 after acquiring an additional 88,731 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Tennant by 8.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 808,131 shares of the industrial products company’s stock valued at $58,711,000 after acquiring an additional 66,154 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Tennant by 11.4% during the third quarter. Bank of New York Mellon Corp now owns 579,909 shares of the industrial products company’s stock valued at $38,389,000 after acquiring an additional 59,559 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Tennant during the fourth quarter valued at approximately $2,723,000. 91.05% of the stock is owned by institutional investors.
In related news, insider Thomas Paulson sold 6,694 shares of the company’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $72.90, for a total transaction of $487,992.60. Following the completion of the sale, the insider now directly owns 24,035 shares in the company, valued at approximately $1,752,151.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.60% of the company’s stock.
Shares of TNC traded down $2.15 during mid-day trading on Friday, reaching $68.25. The company’s stock had a trading volume of 143,748 shares, compared to its average volume of 107,746. The firm has a market cap of $1,220.38, a price-to-earnings ratio of 44.32, a PEG ratio of 3.60 and a beta of 0.86. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.25 and a current ratio of 1.79. Tennant has a 52 week low of $59.00 and a 52 week high of $76.80.
Tennant (NYSE:TNC) last announced its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.01). The business had revenue of $279.30 million during the quarter, compared to the consensus estimate of $262.13 million. Tennant had a positive return on equity of 9.68% and a negative net margin of 0.62%. The company’s revenue was up 31.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 earnings per share. equities research analysts predict that Tennant will post 1.89 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 28th were issued a dividend of $0.21 per share. The ex-dividend date was Tuesday, February 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.23%. Tennant’s dividend payout ratio is currently 54.55%.
A number of brokerages have recently weighed in on TNC. Zacks Investment Research upgraded shares of Tennant from a “strong sell” rating to a “hold” rating in a report on Saturday, January 13th. Dougherty & Co upgraded shares of Tennant from a “neutral” rating to a “buy” rating in a report on Monday, February 26th.
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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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