Tennant (NYSE:TNC) SVP Carol E. Mcknight Sells 3,832 Shares of Stock

Tennant (NYSE:TNC – Get Rating) SVP Carol E. Mcknight sold 3,832 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $77.57, for a total value of $297,248.24. Following the sale, the senior vice president now owns 22,031 shares of the company’s stock, valued at approximately $1,708,944.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tennant Stock Performance

Shares of TNC opened at $75.78 on Friday. The company has a current ratio of 2.27, a quick ratio of 1.48 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $1.40 billion, a P/E ratio of 17.66 and a beta of 1.10. The firm’s fifty day simple moving average is $70.79 and its two-hundred day simple moving average is $67.53. Tennant has a 12 month low of $54.90 and a 12 month high of $80.52.

Tennant (NYSE:TNC – Get Rating) last released its quarterly earnings data on Friday, April 28th. The industrial products company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.61. Tennant had a net margin of 7.04% and a return on equity of 19.69%. The company had revenue of $305.80 million for the quarter, compared to analysts’ expectations of $272.53 million. During the same quarter in the prior year, the firm earned $0.73 EPS. The business’s revenue was up 18.5% on a year-over-year basis. As a group, analysts predict that Tennant will post 4.1 EPS for the current year.

Tennant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be issued a $0.265 dividend. The ex-dividend date is Tuesday, May 30th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.40%. Tennant’s dividend payout ratio is presently 24.71%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. StockNews.com assumed coverage on shares of Tennant in a research report on Thursday, May 18th. They set a “strong-buy” rating for the company. EF Hutton Acquisition Co. I reiterated a “buy” rating and set a $98.00 price target on shares of Tennant in a report on Friday, February 24th.

Institutional Investors Weigh In On Tennant

Several institutional investors and hedge funds have recently added to or reduced their stakes in TNC. Captrust Financial Advisors increased its stake in shares of Tennant by 15.5% during the 2nd quarter. Captrust Financial Advisors now owns 1,090 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 146 shares during the last quarter. Legal & General Group Plc boosted its holdings in Tennant by 0.3% in the 4th quarter. Legal & General Group Plc now owns 53,493 shares of the industrial products company’s stock worth $3,294,000 after buying an additional 177 shares during the period. Arizona State Retirement System boosted its holdings in Tennant by 3.9% in the 4th quarter. Arizona State Retirement System now owns 4,983 shares of the industrial products company’s stock worth $307,000 after buying an additional 186 shares during the period. Inspire Investing LLC boosted its holdings in Tennant by 4.8% in the 1st quarter. Inspire Investing LLC now owns 4,121 shares of the industrial products company’s stock worth $282,000 after buying an additional 188 shares during the period. Finally, Raymond James & Associates boosted its holdings in Tennant by 1.3% in the 1st quarter. Raymond James & Associates now owns 16,399 shares of the industrial products company’s stock worth $1,124,000 after buying an additional 204 shares during the period. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Tennant Company Profile

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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.