Tennant (NYSE:TNC) SVP Sells $40,004.36 in Stock

09 Dec 2019, 16:56 by Tristan Rich

Tennant (NYSE:TNC) SVP David W. Huml sold 506 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $79.06, for a total value of $40,004.36. Following the completion of the transaction, the senior vice president now directly owns 12,879 shares in the company, valued at $1,018,213.74. The transaction was disclosed in a filing with the SEC, which is available at this link.

TNC traded down $0.07 during mid-day trading on Monday, reaching $79.16. 1,246 shares of the company traded hands, compared to its average volume of 59,938. The stock has a market capitalization of $1.45 billion, a P/E ratio of 36.16, a P/E/G ratio of 2.80 and a beta of 1.23. The company has a quick ratio of 1.18, a current ratio of 1.78 and a debt-to-equity ratio of 0.95. The company’s fifty day moving average price is $74.41 and its 200-day moving average price is $67.68. Tennant has a 52-week low of $48.97 and a 52-week high of $80.44.

Tennant (NYSE:TNC) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.18. The business had revenue of $280.70 million during the quarter, compared to analyst estimates of $285.90 million. Tennant had a net margin of 3.77% and a return on equity of 15.75%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 EPS. As a group, sell-side analysts forecast that Tennant will post 2.83 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.22 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.88 dividend on an annualized basis and a yield of 1.11%. Tennant’s dividend payout ratio is presently 40.37%.

Several research firms recently issued reports on TNC. Dougherty & Co reaffirmed a “buy” rating on shares of Tennant in a research report on Friday, November 22nd. ValuEngine lowered shares of Tennant from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Sidoti initiated coverage on shares of Tennant in a research note on Monday, December 2nd. They set a “buy” rating for the company. Finally, Zacks Investment Research lowered shares of Tennant from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $77.00.

A number of institutional investors and hedge funds have recently made changes to their positions in TNC. Charles Schwab Trust Co purchased a new stake in Tennant during the 3rd quarter valued at $12,588,000. Russell Investments Group Ltd. raised its stake in Tennant by 6,554.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 77,192 shares of the industrial products company’s stock valued at $5,458,000 after buying an additional 76,032 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in Tennant during the 2nd quarter valued at $4,349,000. Morgan Stanley raised its stake in Tennant by 40.4% during the 2nd quarter. Morgan Stanley now owns 131,232 shares of the industrial products company’s stock valued at $8,032,000 after buying an additional 37,734 shares during the last quarter. Finally, SG Capital Management LLC purchased a new stake in Tennant during the 3rd quarter valued at $2,307,000. Institutional investors and hedge funds own 85.80% of the company’s stock.

About Tennant

Tennant Company designs, manufactures, and markets floor cleaning equipment worldwide. The company offers a suite of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, specialty surface coatings, and asset management solutions.