Tennant (NYSE:TNC) Stock Price Crosses Above 200-Day Moving Average of $94.36

Tennant (NYSE:TNC)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $94.36 and traded as high as $119.40. Tennant shares last traded at $116.28, with a volume of 105,860 shares traded.

Analyst Ratings Changes

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

Tennant Trading Down 0.8 %

The firm has a 50 day simple moving average of $111.36 and a 200 day simple moving average of $94.36. The company has a current ratio of 2.08, a quick ratio of 1.44 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $2.21 billion, a PE ratio of 19.95 and a beta of 1.10.

Tennant (NYSE:TNC) last issued its earnings results on Thursday, February 22nd. The industrial products company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.27 by $0.65. Tennant had a return on equity of 23.07% and a net margin of 8.81%. The business had revenue of $311.40 million for the quarter, compared to the consensus estimate of $309.87 million. During the same period last year, the business posted $1.46 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. Equities analysts expect that Tennant will post 6.44 earnings per share for the current fiscal year.

Tennant Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.12 annualized dividend and a yield of 0.96%. Tennant’s dividend payout ratio is 19.21%.

Insider Buying and Selling at Tennant

In other news, Director Carol S. Eicher sold 2,298 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $116.45, for a total transaction of $267,602.10. Following the transaction, the director now directly owns 25,540 shares of the company’s stock, valued at approximately $2,974,133. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Carol S. Eicher sold 2,298 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $116.45, for a total transaction of $267,602.10. Following the transaction, the director now directly owns 25,540 shares of the company’s stock, valued at approximately $2,974,133. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kristin A. Erickson sold 556 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $110.00, for a total value of $61,160.00. Following the transaction, the senior vice president now directly owns 10,698 shares in the company, valued at $1,176,780. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,597 shares of company stock worth $1,953,293. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Tennant

Several hedge funds and other institutional investors have recently modified their holdings of TNC. Point72 Asset Management L.P. raised its holdings in Tennant by 333.0% in the 2nd 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 during the period. Clarity Asset Management Inc. bought a new position in Tennant in the 4th quarter worth $42,000. Advisor Group Holdings Inc. raised its holdings in Tennant by 181.6% in the 4th 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 during the period. Acadian Asset Management LLC bought a new position in Tennant in the 1st quarter worth $53,000. Finally, Creative Financial Designs Inc. ADV raised its holdings in Tennant by 142.4% in the 4th 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 during the period. 93.33% of the stock is owned by institutional investors.

About Tennant

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.