SFE Investment Counsel Trims Position in Tennant (NYSE:TNC)

SFE Investment Counsel reduced its position in Tennant (NYSE:TNC) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,796 shares of the industrial products company’s stock after selling 173 shares during the quarter. SFE Investment Counsel owned about 0.11% of Tennant worth $1,661,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its position in Tennant by 1,337.1% in the first quarter. Captrust Financial Advisors now owns 503 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 468 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Tennant by 311.4% during the first quarter. First Horizon Advisors Inc. now owns 506 shares of the industrial products company’s stock valued at $40,000 after buying an additional 383 shares during the last quarter. Advisor Group Holdings Inc. raised its holdings in shares of Tennant by 37.2% during the second quarter. Advisor Group Holdings Inc. now owns 653 shares of the industrial products company’s stock valued at $53,000 after buying an additional 177 shares during the last quarter. Institutional & Family Asset Management LLC raised its holdings in shares of Tennant by 41.3% during the first quarter. Institutional & Family Asset Management LLC now owns 1,625 shares of the industrial products company’s stock valued at $130,000 after buying an additional 475 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Tennant by 9.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,913 shares of the industrial products company’s stock worth $153,000 after purchasing an additional 164 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

In related news, insider Richard H. Zay sold 1,600 shares of the business’s stock in a transaction on Wednesday, August 18th. The shares were sold at an average price of $72.94, for a total transaction of $116,704.00. Following the transaction, the insider now owns 13,418 shares in the company, valued at approximately $978,708.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.40% of the company’s stock.

Shares of TNC stock traded up $0.51 on Wednesday, hitting $74.42. The company’s stock had a trading volume of 492 shares, compared to its average volume of 64,565. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 1.69 and a beta of 1.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.84 and a quick ratio of 1.32. Tennant has a fifty-two week low of $57.99 and a fifty-two week high of $87.40. The firm’s fifty day moving average price is $75.30 and its 200-day moving average price is $79.02.

Tennant (NYSE:TNC) last posted its earnings results on Monday, August 2nd. The industrial products company reported $1.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.21. Tennant had a net margin of 4.61% and a return on equity of 16.99%. The business had revenue of $279.10 million for the quarter, compared to analysts’ expectations of $271.35 million. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The firm’s revenue for the quarter was up 30.4% on a year-over-year basis. Analysts predict that Tennant will post 4.41 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Tuesday, August 31st will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.24%. The ex-dividend date is Monday, August 30th. Tennant’s dividend payout ratio is currently 31.62%.

Separately, Colliers Securities restated a “buy” rating on shares of Tennant in a research report on Thursday, July 1st.

Tennant Company Profile

Tennant Co engages in the design, manufacture, and marketing of cleaning solutions. Its products include equipment for maintaining surfaces in industrial, commercial, and outdoor environments; detergent-free and other sustainable cleaning technologies; cleaning tools and supplies; and coatings for protecting, repairing and upgrading surfaces.

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Institutional Ownership by Quarter for Tennant (NYSE:TNC)

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