Tennant (NYSE:TNC)’s share price reached a new 52-week high and low during trading on Friday . The company traded as low as $79.25 and last traded at $79.15, with a volume of 403 shares. The stock had previously closed at $78.45.
Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Tennant from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. ValuEngine raised Tennant from a “hold” rating to a “buy” rating in a research note on Tuesday, May 22nd. Finally, Dougherty & Co raised Tennant from a “neutral” rating to a “buy” rating in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Tennant presently has an average rating of “Hold”.
The company has a quick ratio of 1.22, a current ratio of 1.80 and a debt-to-equity ratio of 1.11. The company has a market cap of $1.42 billion, a PE ratio of 51.43, a price-to-earnings-growth ratio of 3.90 and a beta of 0.85.
Tennant (NYSE:TNC) last issued its quarterly earnings results on Monday, April 23rd. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.12. Tennant had a return on equity of 9.27% and a net margin of 0.10%. The business had revenue of $272.80 million for the quarter, compared to analyst estimates of $251.93 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The firm’s revenue for the quarter was up 42.8% compared to the same quarter last year. equities research analysts predict that Tennant will post 2.02 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Wednesday, May 30th. Tennant’s dividend payout ratio (DPR) is presently 54.55%.
In other news, insider Chris Killingstad sold 4,427 shares of the company’s stock in a transaction on Monday, April 16th. The stock was sold at an average price of $68.58, for a total transaction of $303,603.66. Following the transaction, the insider now owns 154,273 shares of the company’s stock, valued at $10,580,042.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas Paulson sold 9,296 shares of the company’s stock in a transaction on Friday, April 6th. The shares were sold at an average price of $69.08, for a total value of $642,167.68. Following the transaction, the chief financial officer now directly owns 35,582 shares in the company, valued at approximately $2,458,004.56. The disclosure for this sale can be found here. Insiders have sold 69,649 shares of company stock worth $4,833,364 in the last ninety days. 5.60% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Elkfork Partners LLC bought a new stake in Tennant in the fourth quarter valued at about $155,000. SNS Financial Group LLC bought a new stake in Tennant in the fourth quarter valued at about $231,000. Xact Kapitalforvaltning AB bought a new stake in Tennant in the first quarter valued at about $248,000. Brown Advisory Inc. bought a new stake in Tennant in the fourth quarter valued at about $291,000. Finally, Koch Industries Inc. bought a new stake in Tennant in the first quarter valued at about $296,000. Institutional investors and hedge funds own 85.17% of the company’s stock.
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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