Tennant (NYSE:TNC) Shares Sold by SFE Investment Counsel

SFE Investment Counsel decreased its position in shares of Tennant (NYSE:TNC) by 0.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 20,796 shares of the industrial products company’s stock after selling 173 shares during the quarter. SFE Investment Counsel’s holdings in Tennant were worth $1,661,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Walthausen & Co. LLC purchased a new position in Tennant during the 1st quarter worth approximately $3,772,000. Captrust Financial Advisors increased its stake in Tennant by 1,337.1% in the first quarter. Captrust Financial Advisors now owns 503 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 468 shares during the period. Russell Investments Group Ltd. grew its stake in Tennant by 10.6% during the second quarter. Russell Investments Group Ltd. now owns 143,965 shares of the industrial products company’s stock worth $11,494,000 after buying an additional 13,804 shares during the last quarter. Quantitative Systematic Strategies LLC lifted its holdings in Tennant by 83.6% in the first quarter. Quantitative Systematic Strategies LLC now owns 5,236 shares of the industrial products company’s stock valued at $418,000 after buying an additional 2,384 shares during the period. Finally, P2 Capital Partners LLC acquired a new stake in Tennant in the first quarter worth $14,780,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

TNC stock traded up $0.51 during mid-day trading on Wednesday, hitting $74.42. The stock had a trading volume of 492 shares, compared to its average volume of 64,565. The firm has a market capitalization of $1.39 billion, a P/E ratio of 28.00, a P/E/G ratio of 1.69 and a beta of 1.10. The company has a current ratio of 1.84, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $75.30 and a 200 day simple moving average of $79.02. Tennant has a 52 week low of $57.99 and a 52 week high of $87.40.

Tennant (NYSE:TNC) last released its earnings results on Monday, August 2nd. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.21. Tennant had a net margin of 4.61% and a return on equity of 16.99%. The company had revenue of $279.10 million for the quarter, compared to the consensus estimate of $271.35 million. During the same quarter in the previous year, the company earned $0.96 EPS. Tennant’s quarterly revenue was up 30.4% compared to the same quarter last year. As a group, equities analysts expect that Tennant will post 4.41 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Tuesday, August 31st will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.24%. The ex-dividend date is Monday, August 30th. Tennant’s dividend payout ratio (DPR) is presently 31.62%.

In other news, insider Richard H. Zay sold 3,680 shares of the firm’s stock in a transaction that occurred on Friday, August 20th. The shares were sold at an average price of $71.95, for a total value of $264,776.00. Following the transaction, the insider now owns 15,498 shares in the company, valued at $1,115,081.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard H. Zay sold 1,600 shares of Tennant stock in a transaction on Wednesday, August 18th. The shares were sold at an average price of $72.94, for a total transaction of $116,704.00. Following the completion of the sale, the insider now owns 13,418 shares in the company, valued at approximately $978,708.92. The disclosure for this sale can be found here. 5.40% of the stock is owned by corporate insiders.

Separately, Colliers Securities reissued a “buy” rating on shares of Tennant in a research report on Thursday, July 1st.

Tennant Profile

Tennant Co engages in the design, manufacture, and marketing of cleaning solutions. Its products include equipment for maintaining surfaces in industrial, commercial, and outdoor environments; detergent-free and other sustainable cleaning technologies; cleaning tools and supplies; and coatings for protecting, repairing and upgrading surfaces.

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Institutional Ownership by Quarter for Tennant (NYSE:TNC)

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