Tennant (NYSE:TNC) Director Buys $319,300.00 in Stock

Tennant Company (NYSE:TNC) Director Donal Mulligan acquired 5,000 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were bought at an average price of $63.86 per share, for a total transaction of $319,300.00. Following the purchase, the director owned 5,000 shares in the company, valued at approximately $319,300. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Tennant Price Performance

Shares of TNC opened at $62.85 on Thursday. The company has a current ratio of 2.05, a quick ratio of 1.37 and a debt-to-equity ratio of 0.45. The company’s fifty day simple moving average is $76.32 and its 200 day simple moving average is $77.62. Tennant Company has a 1-year low of $60.17 and a 1-year high of $87.72. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 1.84 and a beta of 1.07.

Tennant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, February 27th. Tennant’s dividend payout ratio is presently 52.99%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aristides Capital LLC acquired a new stake in shares of Tennant during the fourth quarter worth $201,000. River Road Asset Management LLC increased its position in Tennant by 9.9% during the fourth quarter. River Road Asset Management LLC now owns 265,530 shares of the industrial products company’s stock worth $19,570,000 after acquiring an additional 23,823 shares during the period. Invesco Ltd. increased its position in Tennant by 3.6% during the fourth quarter. Invesco Ltd. now owns 102,926 shares of the industrial products company’s stock worth $7,586,000 after acquiring an additional 3,581 shares during the period. Vision One Management Partners LP raised its stake in Tennant by 18.1% in the 4th quarter. Vision One Management Partners LP now owns 344,585 shares of the industrial products company’s stock worth $25,396,000 after purchasing an additional 52,721 shares in the last quarter. Finally, State of Tennessee Department of Treasury boosted its holdings in Tennant by 3.9% in the 4th quarter. State of Tennessee Department of Treasury now owns 6,559 shares of the industrial products company’s stock valued at $499,000 after purchasing an additional 247 shares during the period. 93.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TNC has been the topic of a number of recent analyst reports. Zacks Research downgraded Tennant from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. Roth Mkm reissued a “buy” rating and set a $91.00 target price (down from $107.00) on shares of Tennant in a report on Wednesday, February 25th. Wall Street Zen downgraded Tennant from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tennant in a research report on Monday, December 29th. Finally, Freedom Capital lowered shares of Tennant from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Tennant has an average rating of “Hold” and an average target price of $91.00.

Tennant Company Profile

Tennant Company is a global provider of solutions that help keep facilities clean, safe and sustainable. The company designs, manufactures and markets a broad range of cleaning machines, chemicals and service programs that address the cleaning needs of customers in diverse industries, including manufacturing, warehousing, food and beverage, healthcare and education. Tennant’s product portfolio encompasses both ride-on and walk-behind floor scrubbers and sweepers, carpet extractors, power brushes, pressure washers and autonomous cleaning machines.

Founded in 1870 and headquartered in Minneapolis, Minnesota, Tennant has grown from a regional manufacturer into a multinational organization with operations in more than 70 countries and sales representation in over 100 markets worldwide.