Semanteon Capital Management LP Has $1.48 Million Stock Holdings in Tennant (NYSE:TNC)

Semanteon Capital Management LP increased its position in Tennant (NYSE:TNC) by 80.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,105 shares of the industrial products company’s stock after purchasing an additional 8,067 shares during the quarter. Tennant makes up 0.8% of Semanteon Capital Management LP’s portfolio, making the stock its 11th biggest position. Semanteon Capital Management LP’s holdings in Tennant were worth $1,476,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Tennant in the 3rd quarter valued at about $1,037,000. Intech Investment Management LLC acquired a new position in Tennant in the third quarter valued at approximately $386,000. Charles Schwab Investment Management Inc. boosted its stake in Tennant by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 253,119 shares of the industrial products company’s stock valued at $24,310,000 after acquiring an additional 3,975 shares during the last quarter. Eagle Asset Management Inc. acquired a new stake in Tennant during the 3rd quarter worth $3,873,000. Finally, Cerity Partners LLC raised its position in shares of Tennant by 21.1% during the 3rd quarter. Cerity Partners LLC now owns 90,173 shares of the industrial products company’s stock valued at $8,660,000 after acquiring an additional 15,722 shares during the last quarter. 93.33% of the stock is owned by institutional investors.

Insider Activity at Tennant

In other news, insider Richard H. Zay sold 7,053 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $87.58, for a total transaction of $617,701.74. Following the completion of the sale, the insider now owns 25,770 shares of the company’s stock, valued at $2,256,936.60. This represents a 21.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Barb Balinski sold 1,717 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 11,829 shares in the company, valued at approximately $1,022,262.18. The trade was a 12.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TNC shares. StockNews.com lowered Tennant from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th. Northcoast Research assumed coverage on Tennant in a report on Thursday, December 19th. They set a “buy” rating and a $125.00 target price on the stock.

Tennant Trading Down 0.4 %

TNC opened at $84.58 on Friday. The firm’s fifty day moving average is $85.43 and its two-hundred day moving average is $87.54. The firm has a market cap of $1.59 billion, a PE ratio of 19.31 and a beta of 1.02. Tennant has a twelve month low of $78.57 and a twelve month high of $124.11. 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 (NYSE:TNC) last posted its earnings results on Monday, February 17th. The industrial products company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.13. Tennant had a return on equity of 19.98% and a net margin of 6.51%. The firm had revenue of $328.90 million for the quarter, compared to analyst estimates of $324.00 million. Equities research analysts anticipate that Tennant will post 5.89 EPS for the current year.

Tennant declared that its board has initiated a share buyback program on Thursday, February 13th that permits the company to buyback 2,000,000 shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Tennant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.295 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.18 annualized dividend and a dividend yield of 1.40%. Tennant’s dividend payout ratio is presently 26.94%.

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.