Tennant (NYSE:TNC) Director Steven Alan Sonnenberg sold 4,281 shares of Tennant stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $78.49, for a total transaction of $336,015.69. Following the completion of the sale, the director now owns 19,102 shares of the company’s stock, valued at approximately $1,499,315.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
NYSE:TNC opened at $77.82 on Friday. The company has a fifty day moving average of $71.20 and a 200-day moving average of $66.27. The firm has a market capitalization of $1.44 billion, a P/E ratio of 35.70 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. Tennant has a twelve month low of $48.97 and a twelve month high of $79.63.
Tennant (NYSE:TNC) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.18. The company 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%. Tennant’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 EPS. On average, analysts anticipate that Tennant will post 2.83 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of TNC. First Trust Advisors LP acquired a new stake in Tennant in the 1st quarter valued at $417,000. Nisa Investment Advisors LLC grew its position in Tennant by 109.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,710 shares of the industrial products company’s stock valued at $411,000 after purchasing an additional 3,500 shares during the period. Bessemer Group Inc. acquired a new stake in Tennant in the 2nd quarter valued at $49,000. Prentiss Smith & Co. Inc. acquired a new stake in Tennant in the 2nd quarter valued at $3,268,000. Finally, Arizona State Retirement System grew its position in Tennant by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 28,176 shares of the industrial products company’s stock valued at $1,724,000 after purchasing an additional 225 shares during the period. 83.29% of the stock is owned by institutional investors and hedge funds.
TNC has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Tennant from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. ValuEngine lowered shares of Tennant from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Finally, TheStreet upgraded shares of Tennant from a “c+” rating to a “b” rating in a research note on Wednesday, July 31st.
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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