Illinois Municipal Retirement Fund Has $1 Million Stock Holdings in Tennant (NYSE:TNC)

Illinois Municipal Retirement Fund trimmed its position in Tennant (NYSE:TNC) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,815 shares of the industrial products company’s stock after selling 684 shares during the period. Illinois Municipal Retirement Fund’s holdings in Tennant were worth $1,002,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TNC. Assenagon Asset Management S.A. acquired a new stake in Tennant during the 3rd quarter worth approximately $22,613,000. Invesco Ltd. grew its stake in shares of Tennant by 57.8% during the 3rd quarter. Invesco Ltd. now owns 115,739 shares of the industrial products company’s stock worth $8,582,000 after acquiring an additional 42,407 shares in the last quarter. Tudor Investment Corp Et Al grew its stake in shares of Tennant by 539.4% during the 3rd quarter. Tudor Investment Corp Et Al now owns 46,734 shares of the industrial products company’s stock worth $3,465,000 after acquiring an additional 39,425 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Tennant by 930.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 37,159 shares of the industrial products company’s stock worth $3,444,000 after acquiring an additional 33,552 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of Tennant by 174.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 51,153 shares of the industrial products company’s stock worth $3,793,000 after acquiring an additional 32,483 shares in the last quarter. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tennant

In other news, SVP Kristin A. Erickson sold 556 shares of Tennant stock in a transaction on Friday, March 8th. The stock was sold at an average price of $110.00, for a total transaction of $61,160.00. Following the completion of the sale, the senior vice president now owns 10,698 shares of the company’s stock, valued at $1,176,780. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Tennant news, SVP Kristin A. Erickson sold 556 shares of Tennant stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $110.00, for a total value of $61,160.00. Following the transaction, the senior vice president now owns 10,698 shares in the company, valued at $1,176,780. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Richard H. Zay sold 14,743 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $110.19, for a total value of $1,624,531.17. Following the sale, the insider now owns 11,095 shares in the company, valued at $1,222,558.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,597 shares of company stock valued at $1,953,293. 2.40% of the stock is currently owned by corporate insiders.

Tennant Price Performance

NYSE:TNC opened at $115.63 on Monday. Tennant has a 1-year low of $65.42 and a 1-year 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 firm has a fifty day simple moving average of $114.90 and a 200 day simple moving average of $97.18. The stock has a market capitalization of $2.20 billion, a PE ratio of 19.83 and a beta of 1.10.

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

Tennant Announces Dividend

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

Tennant Company Profile

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.