Tennant (NYSE:TNC) Shares Sold by SFE Investment Counsel

SFE Investment Counsel lessened its position in Tennant (NYSE:TNC) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,077 shares of the industrial products company’s stock after selling 1,747 shares during the period. SFE Investment Counsel owned about 0.09% of Tennant worth $1,392,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TNC. Point72 Asia Singapore Pte. Ltd. grew its stake in Tennant by 84.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 527 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 241 shares during the period. nVerses Capital LLC purchased a new stake in shares of Tennant in the third quarter valued at $77,000. KBC Group NV grew its position 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 purchasing an additional 394 shares during the period. TD Private Client Wealth LLC lifted its position in 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. Finally, R Squared Ltd purchased a new stake in Tennant in the 4th quarter valued at about $92,000. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Northcoast Research assumed coverage on shares of Tennant in a research report on Thursday, December 19th. They issued a “buy” rating and a $125.00 target price on the stock. StockNews.com lowered Tennant from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st.

Tennant Stock Performance

NYSE:TNC opened at $87.25 on Thursday. The firm’s fifty day simple moving average is $83.82 and its 200 day simple moving average is $89.55. 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 firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 15.39 and a beta of 1.01.

Tennant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, February 28th. Tennant’s payout ratio is 20.81%.

Tennant Company 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.