Tennant (NYSE:TNC) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Tennant (NYSE:TNC) by 10.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,610 shares of the industrial products company’s stock after selling 402 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tennant were worth $335,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TNC. Assenagon Asset Management S.A. purchased a new stake in shares of Tennant during the third quarter worth about $22,613,000. Invesco Ltd. boosted its stake in shares of Tennant by 57.8% during the 3rd quarter. Invesco Ltd. now owns 115,739 shares of the industrial products company’s stock valued at $8,582,000 after buying an additional 42,407 shares during the last quarter. Tudor Investment Corp Et Al grew its position in shares of Tennant by 539.4% during the third quarter. Tudor Investment Corp Et Al now owns 46,734 shares of the industrial products company’s stock worth $3,465,000 after buying an additional 39,425 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Tennant by 930.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 37,159 shares of the industrial products company’s stock worth $3,444,000 after buying an additional 33,552 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in Tennant by 174.0% in the third quarter. Qube Research & Technologies Ltd now owns 51,153 shares of the industrial products company’s stock valued at $3,793,000 after acquiring an additional 32,483 shares in the last quarter. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Insider Buying and Selling

In other Tennant news, Director Carol S. Eicher sold 2,298 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $116.45, for a total value of $267,602.10. Following the sale, the director now directly owns 25,540 shares in the company, valued at $2,974,133. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Tennant news, insider Richard H. Zay sold 14,743 shares of Tennant stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $110.19, for a total transaction of $1,624,531.17. Following the sale, the insider now owns 11,095 shares of the company’s stock, valued at approximately $1,222,558.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carol S. Eicher sold 2,298 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $116.45, for a total value of $267,602.10. Following the transaction, the director now owns 25,540 shares of the company’s stock, valued at approximately $2,974,133. The disclosure for this sale can be found here. Insiders sold a total of 17,597 shares of company stock worth $1,953,293 in the last three months. 2.60% of the stock is owned by insiders.

Tennant Trading Down 7.5 %

NYSE TNC opened at $106.97 on Friday. The company’s fifty day moving average price is $116.03 and its two-hundred day moving average price is $98.37. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 18.35 and a beta of 1.10. Tennant has a 12 month low of $72.60 and a 12 month high of $124.11. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.08 and a quick ratio of 1.44.

Tennant (NYSE:TNC) last issued its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.27 by $0.65. The business had revenue of $311.40 million for the quarter, compared to analysts’ expectations of $309.87 million. Tennant had a net margin of 8.81% and a return on equity of 23.07%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.46 earnings per share. As a group, research analysts predict that Tennant will post 6.44 earnings per share for the current fiscal year.

Tennant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.28 per share. The ex-dividend date is Friday, May 31st. This represents a $1.12 dividend on an annualized basis and a yield of 1.05%. Tennant’s dividend payout ratio is currently 19.21%.

Tennant Profile

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.