Access Financial Services Inc. Has $437,000 Stake in Tennant (NYSE:TNC)

Access Financial Services Inc. decreased its stake in Tennant (NYSE:TNC) by 47.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,720 shares of the industrial products company’s stock after selling 4,200 shares during the quarter. Access Financial Services Inc.’s holdings in Tennant were worth $437,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TNC. 1832 Asset Management L.P. boosted its stake in Tennant by 69.2% in the second quarter. 1832 Asset Management L.P. now owns 379 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 155 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Tennant by 333.0% in the second quarter. Point72 Asset Management L.P. now owns 433 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 333 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in Tennant by 181.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 780 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 503 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Tennant in the first quarter worth $53,000. Finally, Creative Financial Designs Inc. ADV boosted its stake in Tennant by 142.4% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 652 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 383 shares in the last quarter. Institutional investors and hedge funds own 93.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, CL King started coverage on Tennant in a research note on Thursday, December 28th. They issued a “buy” rating and a $112.00 price objective on the stock.

Tennant Trading Down 0.0 %

TNC stock opened at $121.45 on Friday. The company has a market cap of $2.31 billion, a P/E ratio of 20.83 and a beta of 1.09. Tennant has a twelve month low of $64.88 and a twelve month high of $123.21. 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 business has a fifty day moving average of $105.29 and a 200-day moving average of $90.68.

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

Tennant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.28 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.92%. Tennant’s payout ratio is currently 19.21%.

Insider Activity at Tennant

In related news, insider Richard H. Zay sold 14,743 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $110.19, for a total value of $1,624,531.17. Following the completion of the sale, the insider now owns 11,095 shares in the company, valued at $1,222,558.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Richard H. Zay sold 14,743 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $110.19, for a total value of $1,624,531.17. Following the completion of the sale, the insider now owns 11,095 shares in the company, valued at $1,222,558.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carol S. Eicher sold 2,298 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $116.45, for a total value of $267,602.10. Following the completion of the sale, the director now owns 25,540 shares of the company’s stock, valued at approximately $2,974,133. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,597 shares of company stock worth $1,953,293. 2.60% of the stock is owned by insiders.

Tennant Company 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.