American Century Companies Inc. Grows Position in Tennant Company $TNC

American Century Companies Inc. boosted its position in Tennant Company (NYSE:TNC) by 26.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 434,996 shares of the industrial products company’s stock after acquiring an additional 91,382 shares during the quarter. American Century Companies Inc. owned 2.40% of Tennant worth $35,261,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in TNC. River Road Asset Management LLC increased its stake in Tennant by 131.0% in the second quarter. River Road Asset Management LLC now owns 240,167 shares of the industrial products company’s stock valued at $19,823,000 after purchasing an additional 136,221 shares during the last quarter. Kennedy Capital Management LLC purchased a new stake in shares of Tennant during the 2nd quarter worth approximately $2,846,000. Sei Investments Co. boosted its holdings in shares of Tennant by 507.4% in the 2nd quarter. Sei Investments Co. now owns 34,809 shares of the industrial products company’s stock valued at $2,697,000 after buying an additional 29,078 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Tennant by 5.0% in the 2nd quarter. Gamco Investors INC. ET AL now owns 498,202 shares of the industrial products company’s stock valued at $38,601,000 after buying an additional 23,552 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Tennant by 44.6% in the 2nd quarter. AQR Capital Management LLC now owns 71,922 shares of the industrial products company’s stock valued at $5,573,000 after buying an additional 22,198 shares during the last quarter. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Tennant Stock Down 0.7%

TNC stock opened at $61.63 on Friday. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 1.82 and a beta of 1.07. The company has a fifty day moving average price of $75.78 and a 200 day moving average price of $77.32. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.05 and a quick ratio of 1.37. Tennant Company has a 12 month low of $60.17 and a 12 month high of $87.72.

Tennant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.31 per share. The ex-dividend date is Friday, February 27th. This represents a $1.24 annualized dividend and a dividend yield of 2.0%. Tennant’s dividend payout ratio is 52.99%.

Insider Activity

In related news, Director David Windley sold 3,694 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $63.86, for a total value of $235,898.84. Following the transaction, the director owned 7,422 shares in the company, valued at $473,968.92. The trade was a 33.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Donal L. Mulligan acquired 5,000 shares of Tennant stock in a transaction on Thursday, February 26th. The shares were bought at an average cost of $63.86 per share, with a total value of $319,300.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at $319,300. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 20,163 shares of company stock valued at $1,261,674. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TNC. Weiss Ratings reiterated a “hold (c)” rating on shares of Tennant in a research note on Monday, December 29th. Zacks Research lowered Tennant from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Roth Mkm reiterated a “buy” rating and set a $91.00 target price (down from $107.00) on shares of Tennant in a research report on Wednesday, February 25th. Freedom Capital downgraded Tennant from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Finally, Wall Street Zen cut Tennant from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Tennant has a consensus rating of “Hold” and a consensus price target of $91.00.

Tennant Company Profile

Tennant Company is a global provider of solutions that help keep facilities clean, safe and sustainable. The company designs, manufactures and markets a broad range of cleaning machines, chemicals and service programs that address the cleaning needs of customers in diverse industries, including manufacturing, warehousing, food and beverage, healthcare and education. Tennant’s product portfolio encompasses both ride-on and walk-behind floor scrubbers and sweepers, carpet extractors, power brushes, pressure washers and autonomous cleaning machines.

Founded in 1870 and headquartered in Minneapolis, Minnesota, Tennant has grown from a regional manufacturer into a multinational organization with operations in more than 70 countries and sales representation in over 100 markets worldwide.