Tennant Company $TNC Shares Bought by Kopion Asset Management LLC

Kopion Asset Management LLC lifted its position in shares of Tennant Company (NYSE:TNC) by 40.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,037 shares of the industrial products company’s stock after acquiring an additional 35,531 shares during the quarter. Tennant accounts for approximately 6.5% of Kopion Asset Management LLC’s portfolio, making the stock its 6th largest holding. Kopion Asset Management LLC’s holdings in Tennant were worth $9,068,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TNC. Salomon & Ludwin LLC acquired a new stake in Tennant in the third quarter valued at about $28,000. CoreCap Advisors LLC acquired a new position in Tennant during the 3rd quarter worth approximately $30,000. State of Wyoming acquired a new position in Tennant during the 2nd quarter worth approximately $73,000. Whittier Trust Co. purchased a new position in shares of Tennant during the 3rd quarter worth approximately $74,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Tennant by 25.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,936 shares of the industrial products company’s stock worth $150,000 after buying an additional 389 shares in the last quarter. 93.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Donal L. Mulligan bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were purchased at an average price of $63.86 per share, for a total transaction of $319,300.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at $319,300. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David W. Huml bought 4,000 shares of the stock in a transaction on Thursday, February 26th. The stock was purchased at an average cost of $64.39 per share, with a total value of $257,560.00. Following the completion of the purchase, the chief executive officer directly owned 67,958 shares in the company, valued at $4,375,815.62. This trade represents a 6.25% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 20,163 shares of company stock valued at $1,261,674. 2.60% of the stock is currently owned by insiders.

Tennant Trading Up 1.5%

Tennant stock opened at $64.94 on Friday. The stock has a market cap of $1.16 billion, a PE ratio of 27.75, a P/E/G ratio of 1.90 and a beta of 1.07. The stock has a 50-day moving average price of $73.71 and a 200 day moving average price of $76.16. Tennant Company has a 52 week low of $60.17 and a 52 week high of $85.90. The company has a current ratio of 2.05, a quick ratio of 1.37 and a debt-to-equity ratio of 0.45.

Tennant Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, February 27th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.9%. Tennant’s payout ratio is 52.99%.

Analyst Ratings Changes

TNC has been the topic of a number of analyst reports. Wall Street Zen downgraded Tennant from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Zacks Research cut Tennant from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. Roth Mkm restated a “buy” rating and set a $91.00 target price (down from $107.00) on shares of Tennant in a research report on Wednesday, February 25th. Freedom Capital cut shares of Tennant from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tennant in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $91.00.

Tennant Company Profile

Tennant Company is a global provider of solutions that help keep facilities clean, safe and sustainable. The company designs, manufactures and markets a broad range of cleaning machines, chemicals and service programs that address the cleaning needs of customers in diverse industries, including manufacturing, warehousing, food and beverage, healthcare and education. Tennant’s product portfolio encompasses both ride-on and walk-behind floor scrubbers and sweepers, carpet extractors, power brushes, pressure washers and autonomous cleaning machines.

Founded in 1870 and headquartered in Minneapolis, Minnesota, Tennant has grown from a regional manufacturer into a multinational organization with operations in more than 70 countries and sales representation in over 100 markets worldwide.