Tennant (NYSE:TNC) Shares Bought by Front Row Advisors LLC

Front Row Advisors LLC grew its position in shares of Tennant (NYSE:TNC) by 4.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,860 shares of the industrial products company’s stock after buying an additional 410 shares during the quarter. Front Row Advisors LLC’s holdings in Tennant were worth $550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantamental Technologies LLC increased its stake in Tennant by 79.9% in the 1st quarter. Quantamental Technologies LLC now owns 894 shares of the industrial products company’s stock worth $56,000 after buying an additional 397 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in Tennant in the 1st quarter worth $85,000. Actinver Wealth Management Inc. purchased a new stake in Tennant in the 4th quarter worth $216,000. Nisa Investment Advisors LLC increased its stake in Tennant by 2,818.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,210 shares of the industrial products company’s stock worth $199,000 after buying an additional 3,100 shares in the last quarter. Finally, Xact Kapitalforvaltning AB purchased a new stake in Tennant in the 1st quarter worth $228,000. 84.41% of the stock is currently owned by hedge funds and other institutional investors.

In other Tennant news, Director Steven Alan Sonnenberg sold 2,256 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $65.31, for a total transaction of $147,339.36. Following the completion of the transaction, the director now owns 18,827 shares of the company’s stock, valued at approximately $1,229,591.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carol S. Eicher sold 1,335 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $58.97, for a total transaction of $78,724.95. Following the transaction, the director now directly owns 16,020 shares of the company’s stock, valued at approximately $944,699.40. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.

Separately, Zacks Investment Research upgraded Tennant from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Wednesday, February 27th.

TNC opened at $59.79 on Monday. Tennant has a 52 week low of $48.97 and a 52 week high of $86.03. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 27.43 and a beta of 1.20. The company has a quick ratio of 1.10, a current ratio of 1.69 and a debt-to-equity ratio of 1.03.

Tennant (NYSE:TNC) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.40 by $0.09. Tennant had a net margin of 3.19% and a return on equity of 14.20%. The business had revenue of $262.50 million during the quarter, compared to the consensus estimate of $278.30 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The business’s revenue was down 3.8% on a year-over-year basis. On average, sell-side analysts forecast that Tennant will post 2.45 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Thursday, May 30th. Tennant’s dividend payout ratio (DPR) is presently 40.37%.

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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.

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Institutional Ownership by Quarter for Tennant (NYSE:TNC)

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