New York State Teachers Retirement System Acquires 1,693 Shares of Tennant (NYSE:TNC)

New York State Teachers Retirement System raised its holdings in shares of Tennant (NYSE:TNC) by 18.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 10,998 shares of the industrial products company’s stock after buying an additional 1,693 shares during the quarter. New York State Teachers Retirement System’s holdings in Tennant were worth $1,019,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of TNC. Point72 Asset Management L.P. lifted its holdings in shares of 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 acquiring an additional 333 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in shares of 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 acquiring an additional 503 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Tennant in the 1st quarter worth about $53,000. Creative Financial Designs Inc. ADV lifted its holdings in shares of 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 acquiring an additional 383 shares during the last quarter. Finally, Captrust Financial Advisors lifted its holdings in shares of Tennant by 15.5% in the 2nd quarter. Captrust Financial Advisors now owns 1,090 shares of the industrial products company’s stock worth $65,000 after acquiring an additional 146 shares during the last quarter. Institutional investors own 93.33% of the company’s stock.

Tennant Trading Down 0.4 %

TNC stock opened at $115.78 on Thursday. The company has a market capitalization of $2.20 billion, a PE ratio of 19.86 and a beta of 1.10. Tennant has a 12 month low of $64.88 and a 12 month high of $124.11. The firm’s 50-day moving average is $112.16 and its 200 day moving average is $94.94. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.08 and a quick ratio of 1.44.

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

Tennant Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Wednesday, February 28th. Tennant’s dividend payout ratio is presently 19.21%.

Wall Street Analyst Weigh In

Separately, CL King assumed coverage on shares of Tennant in a report on Thursday, December 28th. They issued a “buy” rating and a $112.00 target price for the company.

Insider Buying and Selling

In other Tennant news, SVP Kristin A. Erickson sold 556 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $110.00, for a total transaction of $61,160.00. Following the transaction, the senior vice president now owns 10,698 shares of the company’s stock, valued at approximately $1,176,780. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tennant news, SVP Kristin A. Erickson sold 556 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $110.00, for a total transaction of $61,160.00. Following the transaction, the senior vice president now owns 10,698 shares of the company’s stock, valued at approximately $1,176,780. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard H. Zay sold 14,743 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $110.19, for a total transaction of $1,624,531.17. Following the transaction, the insider now directly owns 11,095 shares in the company, valued at approximately $1,222,558.05. The disclosure for this sale can be found here. Insiders have sold 17,597 shares of company stock valued at $1,953,293 in the last 90 days. Company insiders own 2.40% of the company’s stock.

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.