Barb Balinski Sells 1,717 Shares of Tennant (NYSE:TNC) Stock

Tennant (NYSE:TNC) SVP Barb Balinski sold 1,717 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $86.42, for a total transaction of $148,383.14. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Tennant Stock Down 0.8 %

Tennant stock opened at $81.95 on Wednesday. Tennant has a 52 week low of $78.57 and a 52 week high of $124.11. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 18.71 and a beta of 1.01. The company’s 50-day moving average price is $84.67 and its two-hundred day moving average price is $88.39. 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) last posted its quarterly earnings data on Monday, February 17th. The industrial products company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. The business had revenue of $328.90 million for the quarter, compared to analyst estimates of $324.00 million. Tennant had a net margin of 6.51% and a return on equity of 19.98%. On average, analysts expect that Tennant will post 5.89 EPS for the current fiscal year.

Tennant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.295 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.18 annualized dividend and a dividend yield of 1.44%. Tennant’s dividend payout ratio (DPR) is 26.94%.

Tennant declared that its Board of Directors has authorized a stock buyback plan 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 plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Summit Investment Advisors Inc. boosted its position in shares of Tennant by 7.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,983 shares of the industrial products company’s stock valued at $162,000 after purchasing an additional 142 shares in the last quarter. Albert D Mason Inc. lifted its stake in 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 purchasing an additional 145 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Tennant by 1.3% during the third quarter. Franklin Resources Inc. now owns 12,908 shares of the industrial products company’s stock worth $1,213,000 after buying an additional 169 shares in the last quarter. Accredited Investors Inc. grew its position in Tennant by 1.4% in the fourth quarter. Accredited Investors Inc. now owns 13,348 shares of the industrial products company’s stock worth $1,088,000 after buying an additional 186 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Tennant by 5.7% in the fourth quarter. Bank of Montreal Can now owns 3,672 shares of the industrial products company’s stock valued at $299,000 after buying an additional 199 shares in the last quarter. 93.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TNC. StockNews.com downgraded Tennant from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th. Northcoast Research started coverage on Tennant in a research report on Thursday, December 19th. They set a “buy” rating and a $125.00 price target for the company.

Tennant Company Profile

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.