Tennant (TNC) Holdings Lowered by American International Group Inc.

American International Group Inc. lowered its position in shares of Tennant (NYSE:TNC) by 19.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,276 shares of the industrial products company’s stock after selling 2,772 shares during the quarter. American International Group Inc. owned 0.06% of Tennant worth $763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of Tennant by 4.1% during the 4th quarter. BlackRock Inc. now owns 2,232,831 shares of the industrial products company’s stock worth $162,216,000 after buying an additional 88,731 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its position in shares of Tennant by 24.6% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,914,014 shares of the industrial products company’s stock worth $139,053,000 after buying an additional 377,347 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Tennant by 8.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 808,131 shares of the industrial products company’s stock worth $58,711,000 after buying an additional 66,154 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Tennant by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 146,774 shares of the industrial products company’s stock worth $10,663,000 after buying an additional 1,338 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Tennant by 8.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 142,641 shares of the industrial products company’s stock worth $9,657,000 after buying an additional 10,866 shares in the last quarter. 86.87% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:TNC opened at $78.85 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.22 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $1.45 billion, a P/E ratio of 51.20, a P/E/G ratio of 4.00 and a beta of 0.86. Tennant has a 12 month low of $59.00 and a 12 month high of $82.20.

Tennant (NYSE:TNC) last posted its quarterly earnings results on Monday, April 23rd. The industrial products company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. The company had revenue of $272.80 million for the quarter, compared to analysts’ expectations of $251.93 million. Tennant had a net margin of 0.10% and a return on equity of 9.27%. Tennant’s revenue was up 42.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 EPS. sell-side analysts expect that Tennant will post 2.02 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be issued a $0.21 dividend. The ex-dividend date is Wednesday, May 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.07%. Tennant’s dividend payout ratio (DPR) is presently 54.55%.

Several equities analysts have commented on the stock. ValuEngine raised shares of Tennant from a “hold” rating to a “buy” rating in a research report on Tuesday, May 22nd. Zacks Investment Research raised shares of Tennant from a “sell” rating to a “hold” rating in a research report on Thursday, April 26th. Finally, Dougherty & Co raised shares of Tennant from a “neutral” rating to a “buy” rating in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Tennant presently has an average rating of “Hold”.

In related news, CFO Thomas Paulson sold 9,296 shares of Tennant stock in a transaction that occurred 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 sale, the chief financial officer now owns 35,582 shares of the company’s stock, valued at approximately $2,458,004.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David W. Huml sold 415 shares of Tennant stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $72.99, for a total transaction of $30,290.85. Following the completion of the sale, the vice president now directly owns 7,569 shares in the company, valued at approximately $552,461.31. The disclosure for this sale can be found here. Insiders sold a total of 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.

Tennant 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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Institutional Ownership by Quarter for Tennant (NYSE:TNC)

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