Tennant Co. (TNC) Sees Strong Trading Volume
Shares of Tennant Co. (NYSE:TNC) saw unusually-strong trading volume on Monday . Approximately 72,808 shares were traded during trading, an increase of 5% from the previous session’s volume of 69,433 shares.The stock last traded at $57.30 and had previously closed at $57.12.
Several research analysts have recently issued reports on TNC shares. Zacks Investment Research upgraded shares of Tennant from a “sell” rating to a “hold” rating in a report on Saturday, June 18th. National Bank Financial cut shares of Tennant from an “outperform” rating to a “sector perform” rating in a research note on Thursday, July 7th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $32.28.
The stock has a market cap of $1.02 billion and a PE ratio of 33.32. The firm has a 50 day moving average of $55.03 and a 200 day moving average of $52.95.
In other news, SVP Heidi M. Wilson sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $54.40, for a total value of $108,800.00. Following the transaction, the senior vice president now owns 18,326 shares in the company, valued at approximately $996,934.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas Paulson sold 14,981 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $56.00, for a total transaction of $838,936.00. Following the completion of the transaction, the chief financial officer now owns 38,380 shares in the company, valued at approximately $2,149,280. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of Tennant by 2.2% in the fourth quarter. Principal Financial Group Inc. now owns 117,686 shares of the company’s stock worth $6,621,000 after buying an additional 2,575 shares during the period. SFE Investment Counsel increased its position in shares of Tennant by 3.7% in the fourth quarter. SFE Investment Counsel now owns 38,880 shares of the company’s stock worth $2,187,000 after buying an additional 1,395 shares during the period. California State Teachers Retirement System increased its position in shares of Tennant by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 34,130 shares of the company’s stock worth $1,920,000 after buying an additional 621 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Tennant by 6.4% in the fourth quarter. Rhumbline Advisers now owns 26,606 shares of the company’s stock worth $1,497,000 after buying an additional 1,600 shares during the period.
Tennant Company (Tennant) is engaged in designing, manufacturing and marketing cleaning solutions. The Company is organized into four operating segments: North America; Latin America; Europe, Middle East, Africa, and Asia Pacific. The Company offers products and solutions consisting of mechanized cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, specialty surface coatings, and business solutions, such as financing, rental and leasing programs, and machine-to-machine asset management solutions.
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