Barb Balinski Sells 1,717 Shares of Tennant (NYSE:TNC) Stock

Tennant (NYSE:TNC) SVP Barb Balinski sold 1,717 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $86.42, for a total value of $148,383.14. Following the completion of the sale, the senior vice president now owns 11,829 shares in the company, valued at approximately $1,022,262.18. This represents a 12.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Tennant Trading Up 1.4 %

Shares of Tennant stock opened at $83.03 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.97 and a quick ratio of 1.43. The firm has a fifty day moving average price of $84.72 and a 200 day moving average price of $88.35. Tennant has a 1 year low of $78.57 and a 1 year high of $124.11. The stock has a market cap of $1.56 billion, a PE ratio of 18.96 and a beta of 1.01.

Tennant (NYSE:TNC) last announced its quarterly earnings results on Monday, February 17th. The industrial products company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.13. The company had revenue of $328.90 million during the quarter, compared to analysts’ expectations of $324.00 million. Tennant had a return on equity of 19.98% and a net margin of 6.51%. Equities research analysts predict that Tennant will post 5.89 earnings per share for the current year.

Tennant declared that its board has authorized a share repurchase plan on Thursday, February 13th that permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the industrial products company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Tennant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Friday, February 28th. Tennant’s dividend payout ratio is currently 26.94%.

Analyst Ratings Changes

Several analysts have commented on TNC shares. StockNews.com cut shares of Tennant from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 27th. Northcoast Research assumed coverage on shares of Tennant in a report on Thursday, December 19th. They set a “buy” rating and a $125.00 target price for the company.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. increased its holdings in Tennant by 7.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,983 shares of the industrial products company’s stock valued at $162,000 after buying an additional 142 shares in the last quarter. Albert D Mason Inc. increased its position in shares of Tennant by 1.5% in the fourth quarter. Albert D Mason Inc. now owns 9,811 shares of the industrial products company’s stock valued at $800,000 after buying an additional 145 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Tennant by 1.3% in the third quarter. Franklin Resources Inc. now owns 12,908 shares of the industrial products company’s stock valued at $1,213,000 after buying an additional 169 shares in the last quarter. Accredited Investors Inc. increased its position in shares of Tennant by 1.4% in the fourth quarter. Accredited Investors Inc. now owns 13,348 shares of the industrial products company’s stock valued at $1,088,000 after buying an additional 186 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Tennant by 5.7% in the fourth quarter. Bank of Montreal Can now owns 3,672 shares of the industrial products company’s stock valued at $299,000 after buying an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 93.33% 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.