ExodusPoint Capital Management LP Has $1.34 Million Holdings in Tennant (NYSE:TNC)

ExodusPoint Capital Management LP raised its position in Tennant (NYSE:TNC - Free Report) by 506.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,428 shares of the industrial products company's stock after purchasing an additional 13,720 shares during the quarter. ExodusPoint Capital Management LP owned about 0.09% of Tennant worth $1,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Jane Street Group LLC raised its stake in Tennant by 77.3% during the 3rd quarter. Jane Street Group LLC now owns 30,527 shares of the industrial products company's stock valued at $2,932,000 after acquiring an additional 13,311 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Tennant by 1.4% in the third quarter. Geode Capital Management LLC now owns 436,933 shares of the industrial products company's stock worth $41,971,000 after purchasing an additional 5,862 shares during the period. Amundi grew its position in Tennant by 190.4% in the 4th quarter. Amundi now owns 9,666 shares of the industrial products company's stock valued at $773,000 after buying an additional 6,338 shares in the last quarter. Barclays PLC increased its stake in Tennant by 222.8% during the 3rd quarter. Barclays PLC now owns 40,151 shares of the industrial products company's stock valued at $3,857,000 after buying an additional 27,712 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of Tennant by 4.0% during the 3rd quarter. Janus Henderson Group PLC now owns 25,975 shares of the industrial products company's stock worth $2,494,000 after buying an additional 1,008 shares in the last quarter. Institutional investors own 93.33% of the company's stock.

Insider Buying and Selling at Tennant

In other Tennant news, insider Richard H. Zay sold 7,053 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $87.58, for a total value of $617,701.74. Following the transaction, the insider now directly owns 25,770 shares of the company's stock, valued at $2,256,936.60. This represents a 21.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Barb Balinski sold 1,717 shares of Tennant stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $86.42, for a total value of $148,383.14. Following the sale, the senior vice president now owns 11,829 shares of the company's stock, valued at approximately $1,022,262.18. This represents a 12.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on TNC. StockNews.com cut shares of Tennant from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 27th. Northcoast Research initiated coverage on shares of Tennant in a report on Thursday, December 19th. They issued a "buy" rating and a $125.00 target price on the stock.

Tennant Trading Up 0.2 %

Shares of NYSE:TNC traded up $0.12 during mid-day trading on Tuesday, hitting $71.37. The stock had a trading volume of 17,435 shares, compared to its average volume of 139,111. The company's 50 day moving average is $82.18 and its 200-day moving average is $85.25. Tennant has a 12-month low of $67.80 and a 12-month high of $119.71. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 1.97. The company has a market cap of $1.34 billion, a PE ratio of 16.30 and a beta of 0.97.

Tennant (NYSE:TNC - Get Free Report) last issued its earnings results on Monday, February 17th. The industrial products company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.39 by $0.13. The business had revenue of $328.90 million during the quarter, compared to analysts' expectations of $324.00 million. Tennant had a return on equity of 19.98% and a net margin of 6.51%. On average, sell-side analysts predict that Tennant will post 5.89 EPS for the current year.

Tennant announced that its board has initiated a share buyback plan on Thursday, February 13th that allows the company to repurchase 2,000,000 shares. This repurchase authorization allows the industrial products company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Tennant Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.295 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.18 annualized dividend and a yield of 1.65%. Tennant's dividend payout ratio is presently 26.94%.

About Tennant

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.