Zurcher Kantonalbank Zurich Cantonalbank Has $335,000 Stock Position in Tennant (NYSE:TNC)

Zurcher Kantonalbank Zurich Cantonalbank cut its position in Tennant (NYSE:TNC) by 10.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,610 shares of the industrial products company’s stock after selling 402 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tennant were worth $335,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TNC. Creative Financial Designs Inc. ADV lifted its stake in Tennant by 142.4% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 652 shares of the industrial products company’s stock valued at $60,000 after acquiring an additional 383 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Tennant by 118.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,629 shares of the industrial products company’s stock valued at $195,000 after acquiring an additional 1,423 shares during the period. Sherbrooke Park Advisers LLC bought a new position in Tennant during the third quarter worth $200,000. Mackenzie Financial Corp bought a new stake in shares of Tennant during the 4th quarter worth about $231,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Tennant in the 3rd quarter valued at about $234,000. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Tennant Trading Down 7.5 %

Shares of TNC stock opened at $106.97 on Friday. Tennant has a 12-month low of $72.60 and a 12-month high of $124.11. The company has a market capitalization of $2.03 billion, a PE ratio of 18.35 and a beta of 1.10. The firm has a 50 day moving average price of $116.03 and a two-hundred day moving average price of $98.37. The company has a quick ratio of 1.44, a current ratio of 2.08 and a debt-to-equity ratio of 0.34.

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

Tennant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Friday, May 31st. Tennant’s payout ratio is currently 19.21%.

Insider Transactions at Tennant

In related news, Director Carol S. Eicher sold 2,298 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $116.45, for a total value of $267,602.10. Following the sale, the director now directly owns 25,540 shares of the company’s stock, valued at $2,974,133. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Carol S. Eicher sold 2,298 shares of the business’s 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 sale, the director now owns 25,540 shares in the company, valued at approximately $2,974,133. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard H. Zay sold 14,743 shares of the stock in a transaction dated 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 owns 11,095 shares of the company’s stock, valued at $1,222,558.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,597 shares of company stock valued at $1,953,293. 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.