Separately, TheStreet raised shares of Tennant from a “c+” rating to a “b” rating in a research report on Wednesday, July 31st.
Shares of Tennant stock traded up $3.62 during trading hours on Wednesday, hitting $73.12. 75,892 shares of the company’s stock traded hands, compared to its average volume of 75,485. Tennant has a 12-month low of $48.97 and a 12-month high of $79.00. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 33.54 and a beta of 1.24. The company has a fifty day simple moving average of $68.16 and a 200-day simple moving average of $63.87. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.85 and a quick ratio of 1.23.
In other Tennant news, SVP Richard H. Zay sold 4,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $72.49, for a total transaction of $289,960.00. Following the completion of the transaction, the senior vice president now directly owns 27,184 shares of the company’s stock, valued at $1,970,568.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Chris Killingstad sold 6,500 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $70.00, for a total value of $455,000.00. Following the transaction, the chief executive officer now directly owns 159,308 shares of the company’s stock, valued at $11,151,560. The disclosure for this sale can be found here. Insiders sold a total of 55,874 shares of company stock worth $3,803,077 in the last ninety days. 5.60% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada grew its stake in shares of Tennant by 264.7% during the 2nd quarter. Royal Bank of Canada now owns 755 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 548 shares during the period. Stonebridge Capital Advisors LLC bought a new stake in Tennant in the 2nd quarter valued at about $104,000. Nuveen Asset Management LLC bought a new stake in Tennant in the 2nd quarter valued at about $4,349,000. UBS Asset Management Americas Inc. raised its stake in Tennant by 18.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 11,590 shares of the industrial products company’s stock valued at $709,000 after acquiring an additional 1,842 shares during the period. Finally, Morgan Stanley lifted its holdings in Tennant by 40.4% during the second quarter. Morgan Stanley now owns 131,232 shares of the industrial products company’s stock valued at $8,032,000 after purchasing an additional 37,734 shares during the last quarter. 83.38% of the stock is currently owned by hedge funds and other institutional investors.
Tennant Company Profile
Tennant Company designs, manufactures, and markets floor cleaning equipment worldwide. The company 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.
Recommended Story: Initial Coin Offering (ICO)
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Tennant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tennant and related companies with MarketBeat.com's FREE daily email newsletter.