Lightrock Netherlands B.V. Acquires New Holdings in Tennant (NYSE:TNC)

Lightrock Netherlands B.V. bought a new position in shares of Tennant (NYSE:TNC) in the 4th quarter, HoldingsChannel reports. The fund bought 60,500 shares of the industrial products company’s stock, valued at approximately $4,957,000. Tennant makes up 1.7% of Lightrock Netherlands B.V.’s portfolio, making the stock its 28th biggest holding.

A number of other institutional investors have also made changes to their positions in TNC. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Tennant by 84.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 527 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 241 shares during the period. nVerses Capital LLC acquired a new position in Tennant during the third quarter worth $77,000. TD Private Client Wealth LLC boosted its position in shares of Tennant by 43.7% during the third quarter. TD Private Client Wealth LLC now owns 839 shares of the industrial products company’s stock worth $81,000 after buying an additional 255 shares during the period. KBC Group NV grew its stake in shares of Tennant by 69.5% in the fourth quarter. KBC Group NV now owns 961 shares of the industrial products company’s stock valued at $78,000 after buying an additional 394 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Tennant in the 4th quarter valued at $92,000. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Tennant Stock Up 1.6 %

Tennant stock opened at $87.84 on Tuesday. The firm has a market capitalization of $1.66 billion, a P/E ratio of 15.49 and a beta of 1.01. The company has a current ratio of 2.17, a quick ratio of 1.43 and a debt-to-equity ratio of 0.32. Tennant has a twelve month low of $78.57 and a twelve month high of $124.11. The stock’s fifty day simple moving average is $83.84 and its 200-day simple moving average is $89.84.

Analyst Upgrades and Downgrades

TNC has been the subject of several research reports. Northcoast Research started coverage on Tennant in a research report on Thursday, December 19th. They issued a “buy” rating and a $125.00 target price for the company. StockNews.com cut shares of Tennant from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st.

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.