Tennant (NYSE:TNC) Director Purchases $184,830.00 in Stock

Tennant Company (NYSE:TNC) Director Donal Mulligan bought 3,000 shares of Tennant stock in a transaction dated Friday, February 27th. The shares were acquired at an average price of $61.61 per share, with a total value of $184,830.00. Following the completion of the purchase, the director owned 8,000 shares in the company, valued at approximately $492,880. The trade was a 60.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tennant Stock Up 1.4%

Shares of NYSE:TNC opened at $62.85 on Thursday. The firm has a market cap of $1.12 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. The company has a fifty day simple moving average of $76.32 and a 200 day simple moving average of $77.62. 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 Company has a 12-month low of $60.17 and a 12-month high of $87.72.

Tennant Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in shares of Tennant by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 585,022 shares of the industrial products company’s stock worth $43,116,000 after acquiring an additional 6,760 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in Tennant by 0.6% in the 4th quarter. Gamco Investors INC. ET AL now owns 502,598 shares of the industrial products company’s stock valued at $37,041,000 after purchasing an additional 2,803 shares during the last quarter. American Century Companies Inc. boosted its stake in Tennant by 26.6% during the 3rd quarter. American Century Companies Inc. now owns 434,996 shares of the industrial products company’s stock valued at $35,261,000 after purchasing an additional 91,382 shares during the period. Millennium Management LLC grew its position in Tennant by 33.8% in the 4th quarter. Millennium Management LLC now owns 358,452 shares of the industrial products company’s stock worth $26,418,000 after purchasing an additional 90,611 shares during the last quarter. Finally, Vision One Management Partners LP increased its stake in shares of Tennant by 18.1% in the fourth quarter. Vision One Management Partners LP now owns 344,585 shares of the industrial products company’s stock valued at $25,396,000 after purchasing an additional 52,721 shares during the period. Institutional investors and hedge funds own 93.33% of the company’s stock.

Analyst Upgrades and Downgrades

TNC has been the subject of several research analyst reports. Freedom Capital cut Tennant from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Wall Street Zen downgraded Tennant from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Zacks Research cut Tennant from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 26th. 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Tennant in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.