Daiwa Securities Group Inc. Increases Holdings in Tennant (NYSE:TNC)

Daiwa Securities Group Inc. increased its stake in shares of Tennant (NYSE:TNC) by 7.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,831 shares of the industrial products company’s stock after buying an additional 202 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Tennant were worth $263,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV lifted its position in Tennant by 142.4% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 652 shares of the industrial products company’s stock worth $60,000 after buying an additional 383 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new position in Tennant during the third quarter worth approximately $200,000. Mackenzie Financial Corp purchased a new position in Tennant during the fourth quarter worth approximately $231,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Tennant in the third quarter valued at $234,000. Finally, Allspring Global Investments Holdings LLC raised its position in Tennant by 163.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,607 shares of the industrial products company’s stock valued at $267,000 after purchasing an additional 2,239 shares during the period. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Insider Buying and Selling at Tennant

In related news, SVP Kristin A. Erickson sold 556 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $110.00, for a total value of $61,160.00. Following the sale, the senior vice president now owns 10,698 shares in the company, valued at approximately $1,176,780. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Carol S. Eicher sold 2,298 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $116.45, for a total value of $267,602.10. Following the sale, the director now owns 25,540 shares in the company, valued at approximately $2,974,133. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kristin A. Erickson sold 556 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $110.00, for a total value of $61,160.00. Following the completion of the sale, the senior vice president now owns 10,698 shares in the company, valued at approximately $1,176,780. The disclosure for this sale can be found here. Insiders have sold 17,597 shares of company stock worth $1,953,293 over the last quarter. 2.60% of the stock is currently owned by company insiders.

Tennant Price Performance

NYSE:TNC opened at $115.63 on Friday. Tennant has a 52 week low of $65.42 and a 52 week high of $124.11. The company has a quick ratio of 1.44, a current ratio of 2.08 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $2.20 billion, a P/E ratio of 19.83 and a beta of 1.10. The stock’s fifty day moving average is $114.90 and its two-hundred day moving average is $96.91.

Tennant (NYSE:TNC) last posted its earnings results on Thursday, February 22nd. The industrial products company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.65. Tennant had a return on equity of 23.07% and a net margin of 8.81%. The company had revenue of $311.40 million for the quarter, compared to the consensus estimate of $309.87 million. During the same quarter in the previous year, the business earned $1.46 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities analysts expect that Tennant will post 6.44 EPS for the current year.

Tennant Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a $0.28 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $1.12 dividend on an annualized basis and a yield of 0.97%. Tennant’s dividend payout ratio is currently 19.21%.

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 cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, and asset management solutions.