Harvey Investment Co. LLC Takes Position in Tennant (NYSE:TNC)

Harvey Investment Co. LLC purchased a new position in Tennant (NYSE:TNC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,050 shares of the industrial products company’s stock, valued at approximately $493,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TNC. The Manufacturers Life Insurance Company raised its holdings in Tennant by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,451 shares of the industrial products company’s stock worth $1,029,000 after purchasing an additional 702 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of Tennant by 10.5% during the third quarter. Handelsbanken Fonder AB now owns 5,265 shares of the industrial products company’s stock valued at $506,000 after buying an additional 500 shares during the period. Inspire Investing LLC raised its stake in Tennant by 19.6% in the third quarter. Inspire Investing LLC now owns 4,395 shares of the industrial products company’s stock worth $422,000 after buying an additional 720 shares in the last quarter. Annex Advisory Services LLC lifted its holdings in Tennant by 30.2% in the third quarter. Annex Advisory Services LLC now owns 7,995 shares of the industrial products company’s stock worth $768,000 after buying an additional 1,855 shares during the period. Finally, Oliver Luxxe Assets LLC boosted its position in Tennant by 85.5% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 17,056 shares of the industrial products company’s stock valued at $1,638,000 after acquiring an additional 7,863 shares in the last quarter. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Tennant Trading Down 1.0 %

Shares of NYSE TNC opened at $85.44 on Friday. Tennant has a 1 year low of $78.57 and a 1 year high of $124.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.43. The firm has a 50-day moving average of $83.94 and a 200 day moving average of $90.25. The stock has a market cap of $1.61 billion, a P/E ratio of 15.07 and a beta of 1.01.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TNC shares. StockNews.com lowered Tennant from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Northcoast Research started coverage on Tennant in a report on Thursday, December 19th. They issued a “buy” rating and a $125.00 price objective 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.