State of Alaska Department of Revenue decreased its position in shares of Tennant (NYSE:TNC – Free Report) by 4.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,180 shares of the industrial products company’s stock after selling 554 shares during the period. State of Alaska Department of Revenue owned approximately 0.07% of Tennant worth $987,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. Captrust Financial Advisors lifted its stake in shares of Tennant by 15.5% in the 2nd quarter. Captrust Financial Advisors now owns 1,090 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 146 shares during the last quarter. Legal & General Group Plc increased its holdings in Tennant by 0.3% during the 4th quarter. Legal & General Group Plc now owns 53,493 shares of the industrial products company’s stock valued at $3,294,000 after purchasing an additional 177 shares during the period. Inspire Investing LLC increased its holdings in Tennant by 4.8% during the 1st quarter. Inspire Investing LLC now owns 4,121 shares of the industrial products company’s stock valued at $282,000 after purchasing an additional 188 shares during the period. Raymond James & Associates increased its holdings in Tennant by 1.3% during the 1st quarter. Raymond James & Associates now owns 16,399 shares of the industrial products company’s stock valued at $1,124,000 after purchasing an additional 204 shares during the period. Finally, FMR LLC increased its holdings in Tennant by 2.6% during the 1st quarter. FMR LLC now owns 8,612 shares of the industrial products company’s stock valued at $590,000 after purchasing an additional 218 shares during the period. Hedge funds and other institutional investors own 91.14% of the company’s stock.
Tennant Stock Performance
Tennant stock opened at $76.00 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 2.29 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $1.41 billion, a P/E ratio of 14.96 and a beta of 1.12. The stock’s 50 day moving average is $78.87 and its 200 day moving average is $77.28. Tennant has a twelve month low of $57.21 and a twelve month high of $87.53.
Tennant Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were given a $0.265 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $1.06 annualized dividend and a yield of 1.39%. Tennant’s dividend payout ratio (DPR) is presently 20.87%.
Wall Street Analyst Weigh In
Separately, StockNews.com assumed coverage on Tennant in a report on Thursday, October 5th. They set a “strong-buy” rating on the stock.
Read Our Latest Research Report on TNC
Insider Activity at Tennant
In other news, insider Richard H. Zay sold 5,559 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $85.79, for a total transaction of $476,906.61. Following the transaction, the insider now directly owns 11,095 shares of the company’s stock, valued at approximately $951,840.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Richard H. Zay sold 5,559 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $85.79, for a total transaction of $476,906.61. Following the transaction, the insider now directly owns 11,095 shares of the company’s stock, valued at approximately $951,840.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David W. Huml sold 4,599 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $83.83, for a total value of $385,534.17. Following the transaction, the chief executive officer now directly owns 40,531 shares in the company, valued at $3,397,713.73. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,688 shares of company stock valued at $1,139,863. 2.60% of the stock is owned by corporate insiders.
About Tennant
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.
Read More
- Five stocks we like better than Tennant
- How to Calculate Options Profits
- Warren Buffett Stocks: What’s in Warren Buffett’s Portfolio?
- Are Penny Stocks a Good Fit for Your Portfolio?
- Snack Maker Mondelez Int’l Is Down but Not Out
- Roth IRA Calculator: Calculate Your Potential Returns
- Costco, Dollar General, Target Up As Market Turns Defensive
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.
