Mackenzie Financial Corp Invests $231,000 in Tennant (NYSE:TNC)

Mackenzie Financial Corp acquired a new stake in shares of Tennant (NYSE:TNC) during the fourth quarter, HoldingsChannel reports. The firm acquired 2,494 shares of the industrial products company’s stock, valued at approximately $231,000.

Several other institutional investors have also bought and sold shares of the stock. Creative Financial Designs Inc. ADV raised its position in shares of Tennant by 142.4% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 652 shares of the industrial products company’s stock worth $60,000 after buying an additional 383 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Tennant by 118.0% during the third quarter. Daiwa Securities Group Inc. now owns 2,629 shares of the industrial products company’s stock worth $195,000 after purchasing an additional 1,423 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in Tennant in the third quarter worth approximately $200,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Tennant during the 3rd quarter valued at $234,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Tennant by 163.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,607 shares of the industrial products company’s stock valued at $267,000 after buying an additional 2,239 shares during the period. Institutional investors and hedge funds own 93.33% of the company’s stock.

Tennant Price Performance

NYSE:TNC opened at $115.63 on Monday. Tennant has a 52-week low of $65.42 and a 52-week high of $124.11. The company has a quick ratio of 1.44, a current ratio of 2.08 and a debt-to-equity ratio of 0.34. The firm has a market cap of $2.20 billion, a P/E ratio of 19.83 and a beta of 1.10. The business’s 50-day moving average price is $114.90 and its 200 day moving average price is $97.18.

Tennant (NYSE:TNC) last issued its earnings results on Thursday, February 22nd. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.65. The business had revenue of $311.40 million for the quarter, compared to analysts’ expectations of $309.87 million. Tennant had a return on equity of 23.07% and a net margin of 8.81%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 EPS. As a group, sell-side analysts predict 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 0.97%. Tennant’s dividend payout ratio (DPR) is presently 19.21%.

Insider Activity

In other Tennant news, SVP Kristin A. Erickson sold 556 shares of the company’s stock in a transaction that occurred 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 owns 10,698 shares in the company, valued at approximately $1,176,780. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Richard H. Zay sold 14,743 shares of the firm’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 directly owns 11,095 shares of the company’s stock, valued at $1,222,558.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kristin A. Erickson sold 556 shares of Tennant stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $110.00, for a total value of $61,160.00. Following the completion of 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. Insiders have sold 17,597 shares of company stock worth $1,953,293 in the last 90 days. Company insiders own 2.60% of the company’s stock.

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.