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

Tennant (NYSE:TNC) SVP Barb Balinski sold 1,717 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $86.42, for a total transaction of $148,383.14. Following the completion of the sale, the senior vice president now directly owns 11,829 shares of the company’s stock, valued at $1,022,262.18. This represents a 12.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Tennant Price Performance

TNC traded down $0.65 during trading on Tuesday, reaching $81.95. 373,381 shares of the company traded hands, compared to its average volume of 190,129. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 1.97. Tennant has a 12-month low of $78.57 and a 12-month high of $124.11. The firm has a fifty day simple moving average of $84.67 and a 200 day simple moving average of $88.39. The company has a market cap of $1.54 billion, a P/E ratio of 18.71 and a beta of 1.01.

Tennant (NYSE:TNC) last posted its earnings results on Monday, February 17th. The industrial products company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. The firm had revenue of $328.90 million during the quarter, compared to the consensus estimate of $324.00 million. Tennant had a return on equity of 19.98% and a net margin of 6.51%. On average, equities analysts forecast that Tennant will post 5.89 EPS for the current year.

Tennant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.44%. Tennant’s dividend payout ratio is currently 26.94%.

Tennant announced that its Board of Directors has initiated a share repurchase program on Thursday, February 13th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Tennant

Institutional investors have recently bought and sold shares of the stock. Algert Global LLC lifted its position in Tennant by 16.3% in the third quarter. Algert Global LLC now owns 43,391 shares of the industrial products company’s stock worth $4,167,000 after buying an additional 6,085 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in Tennant in the third quarter worth $3,873,000. Jane Street Group LLC increased its stake in Tennant by 77.3% in the third quarter. Jane Street Group LLC now owns 30,527 shares of the industrial products company’s stock worth $2,932,000 after purchasing an additional 13,311 shares during the period. Geode Capital Management LLC increased its stake in Tennant by 1.4% in the third quarter. Geode Capital Management LLC now owns 436,933 shares of the industrial products company’s stock worth $41,971,000 after purchasing an additional 5,862 shares during the period. Finally, Barclays PLC increased its stake in Tennant by 222.8% in the third quarter. Barclays PLC now owns 40,151 shares of the industrial products company’s stock worth $3,857,000 after purchasing an additional 27,712 shares during the period. 93.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TNC has been the subject of several analyst reports. Northcoast Research initiated coverage on shares of Tennant in a report on Thursday, December 19th. They issued a “buy” rating and a $125.00 target price for the company. StockNews.com lowered shares of Tennant from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 27th.

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.