Strs Ohio Purchases Shares of 9,200 Tennant (NYSE:TNC)

Strs Ohio acquired a new position in shares of Tennant (NYSE:TNC) in the 4th quarter, Holdings Channel reports. The fund acquired 9,200 shares of the industrial products company’s stock, valued at approximately $852,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Tennant by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,226,496 shares of the industrial products company’s stock worth $165,095,000 after acquiring an additional 14,712 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Tennant during the third quarter worth $22,613,000. Charles Schwab Investment Management Inc. grew its position in Tennant by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 226,957 shares of the industrial products company’s stock valued at $16,829,000 after purchasing an additional 4,805 shares in the last quarter. Invesco Ltd. increased its stake in Tennant by 57.8% in the 3rd quarter. Invesco Ltd. now owns 115,739 shares of the industrial products company’s stock valued at $8,582,000 after buying an additional 42,407 shares during the last quarter. Finally, Prentiss Smith & Co. Inc. lifted its position in Tennant by 25.5% during the 3rd quarter. Prentiss Smith & Co. Inc. now owns 83,628 shares of the industrial products company’s stock worth $6,201,000 after buying an additional 16,981 shares in the last quarter. 93.33% of the stock is currently owned by institutional investors.

Tennant Trading Down 1.0 %

NYSE TNC opened at $117.31 on Thursday. Tennant has a 12 month low of $64.88 and a 12 month high of $124.11. 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 stock has a 50 day moving average of $114.34 and a 200-day moving average of $96.51. The company has a market cap of $2.23 billion, a PE ratio of 20.12 and a beta of 1.10.

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

Tennant Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Wednesday, February 28th. Tennant’s payout ratio is currently 19.21%.

Analyst Ratings Changes

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

Insider Buying and Selling at Tennant

In other news, insider Richard H. Zay sold 14,743 shares of Tennant stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $110.19, for a total transaction of $1,624,531.17. Following the completion of the transaction, the insider now directly owns 11,095 shares in the company, valued at approximately $1,222,558.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Carol S. Eicher sold 2,298 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 25,540 shares in the company, valued at $2,974,133. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Richard H. Zay sold 14,743 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $110.19, for a total value of $1,624,531.17. Following the completion of 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 worth $1,953,293 over the last 90 days. Company insiders own 2.60% 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.