Harvey Investment Co. LLC Makes New $493,000 Investment in Tennant (NYSE:TNC)

Harvey Investment Co. LLC purchased a new stake in shares of Tennant (NYSE:TNC) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 6,050 shares of the industrial products company’s stock, valued at approximately $493,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TNC. Point72 Asia Singapore Pte. Ltd. lifted its position in Tennant by 84.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 527 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 241 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Tennant in the third quarter worth $77,000. KBC Group NV lifted its holdings in shares of Tennant by 69.5% during the fourth quarter. KBC Group NV now owns 961 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 394 shares in the last quarter. TD Private Client Wealth LLC boosted its position in shares of Tennant by 43.7% during the third quarter. TD Private Client Wealth LLC now owns 839 shares of the industrial products company’s stock valued at $81,000 after buying an additional 255 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Tennant in the 4th quarter worth about $92,000. Institutional investors own 93.33% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on TNC. StockNews.com cut shares of Tennant from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Northcoast Research initiated coverage on shares of Tennant in a report on Thursday, December 19th. They set a “buy” rating and a $125.00 price objective for the company.

Tennant Stock Performance

TNC stock opened at $85.44 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.43. Tennant has a 1 year low of $78.57 and a 1 year high of $124.11. The company has a market cap of $1.61 billion, a P/E ratio of 15.07 and a beta of 1.01. The stock’s fifty day moving average price is $83.94 and its 200-day moving average price is $90.25.

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.