Tudor Investment Corp Et Al Lowers Holdings in Tennant (NYSE:TNC)

Tudor Investment Corp Et Al trimmed its position in Tennant (NYSE:TNC) by 29.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,214 shares of the industrial products company’s stock after selling 1,734 shares during the quarter. Tudor Investment Corp Et Al’s holdings in Tennant were worth $296,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of TNC. Veriti Management LLC purchased a new stake in shares of Tennant in the 4th quarter worth $56,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Tennant in the 4th quarter worth $200,000. Amalgamated Bank purchased a new stake in shares of Tennant in the 4th quarter worth $212,000. Squarepoint Ops LLC raised its position in shares of Tennant by 7.8% in the 3rd quarter. Squarepoint Ops LLC now owns 3,622 shares of the industrial products company’s stock worth $219,000 after acquiring an additional 263 shares in the last quarter. Finally, Front Street Capital Management Inc. bought a new position in shares of Tennant in the 4th quarter worth $223,000. Institutional investors and hedge funds own 87.23% of the company’s stock.

In related news, CEO Chris Killingstad sold 3,297 shares of the company’s stock in a transaction dated Tuesday, February 2nd. The stock was sold at an average price of $70.00, for a total transaction of $230,790.00. Following the transaction, the chief executive officer now directly owns 152,233 shares of the company’s stock, valued at approximately $10,656,310. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 10,915 shares of company stock worth $821,185 over the last ninety days. 5.00% of the stock is currently owned by corporate insiders.

Separately, Zacks Investment Research lowered Tennant from a “buy” rating to a “hold” rating in a research report on Tuesday, March 9th.

TNC opened at $80.01 on Thursday. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 35.25, a PEG ratio of 2.14 and a beta of 1.18. The company has a current ratio of 2.01, a quick ratio of 1.46 and a debt-to-equity ratio of 0.78. Tennant has a 12 month low of $48.79 and a 12 month high of $83.16. The stock has a fifty day moving average price of $79.05 and a 200-day moving average price of $70.27.

Tennant (NYSE:TNC) last released its quarterly earnings results on Wednesday, February 24th. The industrial products company reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.02). The company had revenue of $273.00 million during the quarter, compared to the consensus estimate of $271.88 million. Tennant had a return on equity of 15.37% and a net margin of 4.12%. The company’s revenue was down 7.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 earnings per share. On average, equities research analysts forecast that Tennant will post 2.93 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Monday, March 1st were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Friday, February 26th. Tennant’s dividend payout ratio is currently 31.72%.

Tennant 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 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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