David Windley Sells 3,694 Shares of Tennant (NYSE:TNC) Stock

Tennant Company (NYSE:TNC) Director David Windley sold 3,694 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $63.86, for a total transaction of $235,898.84. Following the sale, the director owned 7,422 shares in the company, valued at approximately $473,968.92. The trade was a 33.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Tennant Stock Down 0.1%

TNC stock traded down $0.05 during midday trading on Monday, hitting $60.98. The company’s stock had a trading volume of 264,164 shares, compared to its average volume of 169,477. The company’s fifty day moving average price is $77.13 and its 200 day moving average price is $78.02. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.05 and a quick ratio of 1.37. Tennant Company has a twelve month low of $60.17 and a twelve month high of $87.72. The stock has a market capitalization of $1.09 billion, a P/E ratio of 26.06, a PEG ratio of 1.81 and a beta of 1.07.

Tennant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be paid a $0.31 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.24 dividend on an annualized basis and a yield of 2.0%. Tennant’s dividend payout ratio is 52.99%.

Hedge Funds Weigh In On Tennant

Institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank grew its stake in shares of Tennant by 1.2% in the 3rd quarter. Comerica Bank now owns 12,290 shares of the industrial products company’s stock valued at $996,000 after buying an additional 144 shares during the period. Daiwa Securities Group Inc. raised its position in Tennant by 2.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 6,115 shares of the industrial products company’s stock valued at $451,000 after buying an additional 148 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Tennant by 85.1% in the fourth quarter. Hantz Financial Services Inc. now owns 385 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 177 shares during the last quarter. Swiss National Bank lifted its position in shares of Tennant by 0.6% during the 3rd quarter. Swiss National Bank now owns 34,300 shares of the industrial products company’s stock worth $2,780,000 after buying an additional 200 shares in the last quarter. Finally, First Affirmative Financial Network boosted its stake in shares of Tennant by 7.2% in the 3rd quarter. First Affirmative Financial Network now owns 3,270 shares of the industrial products company’s stock worth $265,000 after buying an additional 220 shares during the last quarter. 93.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

About Tennant

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.