Tennant (NYSE:TNC) Director Buys $499,983.75 in Stock

Tennant Company (NYSE:TNC) Director James Jr. Glerum acquired 8,163 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was purchased at an average cost of $61.25 per share, for a total transaction of $499,983.75. Following the completion of the purchase, the director directly owned 8,600 shares in the company, valued at $526,750. This trade represents a 1,867.96% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Tennant Price Performance

NYSE TNC traded down $0.05 during mid-day trading on Monday, hitting $60.98. The stock had a trading volume of 264,164 shares, compared to its average volume of 169,477. The company has a quick ratio of 1.37, a current ratio of 2.05 and a debt-to-equity ratio of 0.45. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 26.06, a P/E/G ratio of 1.81 and a beta of 1.07. Tennant Company has a 52-week low of $60.17 and a 52-week high of $87.72. The company has a 50 day simple moving average of $77.13 and a 200 day simple moving average of $78.02.

Tennant Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, February 27th. Tennant’s payout ratio is currently 52.99%.

Institutional Trading of Tennant

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. River Road Asset Management LLC increased its position in Tennant by 131.0% during the second quarter. River Road Asset Management LLC now owns 240,167 shares of the industrial products company’s stock worth $19,823,000 after acquiring an additional 136,221 shares during the period. American Century Companies Inc. increased its position in Tennant by 54.2% during the 2nd quarter. American Century Companies Inc. now owns 343,614 shares of the industrial products company’s stock worth $26,623,000 after purchasing an additional 120,793 shares in the last quarter. Vision One Management Partners LP increased its holdings in shares of Tennant by 63.1% during the third quarter. Vision One Management Partners LP now owns 291,864 shares of the industrial products company’s stock worth $23,212,000 after buying an additional 112,873 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Tennant by 33.8% during the fourth quarter. Millennium Management LLC now owns 358,452 shares of the industrial products company’s stock valued at $26,418,000 after purchasing an additional 90,611 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in Tennant by 158.4% during the 4th quarter. Jane Street Group LLC now owns 94,461 shares of the industrial products company’s stock worth $6,962,000 after buying an additional 57,907 shares during the period. 93.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wall Street Zen cut Tennant from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research downgraded Tennant from a “hold” rating to a “strong sell” rating in a research note on Thursday. Roth Mkm reissued a “buy” rating and issued a $91.00 price objective (down from $107.00) on shares of Tennant in a research note on Wednesday, February 25th. Freedom Capital cut Tennant from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tennant in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.