BNP Paribas Financial Markets Has $1.25 Million Position in Tennant (NYSE:TNC)

BNP Paribas Financial Markets lifted its stake in Tennant (NYSE:TNC - Free Report) by 43.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,294 shares of the industrial products company's stock after purchasing an additional 4,621 shares during the period. BNP Paribas Financial Markets owned 0.08% of Tennant worth $1,247,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TNC. Barclays PLC lifted its holdings in Tennant by 222.8% during the third quarter. Barclays PLC now owns 40,151 shares of the industrial products company's stock worth $3,857,000 after acquiring an additional 27,712 shares in the last quarter. SG Americas Securities LLC bought a new position in Tennant during the fourth quarter worth about $246,000. Inspire Investing LLC lifted its holdings in Tennant by 13.4% during the fourth quarter. Inspire Investing LLC now owns 4,984 shares of the industrial products company's stock worth $406,000 after acquiring an additional 589 shares in the last quarter. Olstein Capital Management L.P. bought a new position in Tennant during the fourth quarter worth about $775,000. Finally, KBC Group NV lifted its holdings in Tennant by 69.5% during the fourth quarter. KBC Group NV now owns 961 shares of the industrial products company's stock worth $78,000 after acquiring an additional 394 shares in the last quarter. 93.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tennant

In other Tennant news, SVP Barb Balinski sold 1,717 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was 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 in the company, valued at $1,022,262.18. This represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Richard H. Zay sold 7,053 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $87.58, for a total value of $617,701.74. Following the completion of the sale, the insider now owns 25,770 shares in the company, valued at $2,256,936.60. This represents a 21.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company's stock.

Tennant Trading Down 0.7%

TNC stock traded down $0.49 during midday trading on Friday, hitting $72.72. 142,183 shares of the company's stock were exchanged, compared to its average volume of 142,782. The company has a market cap of $1.36 billion, a PE ratio of 16.60 and a beta of 1.07. The stock's fifty day moving average price is $74.55 and its 200-day moving average price is $81.45. Tennant has a one year low of $67.32 and a one year high of $110.45. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 1.97.

Tennant (NYSE:TNC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.12 EPS for the quarter, missing analysts' consensus estimates of $1.38 by ($0.26). Tennant had a net margin of 6.51% and a return on equity of 19.98%. The firm had revenue of $290.00 million during the quarter, compared to the consensus estimate of $296.63 million. During the same quarter last year, the firm earned $1.49 earnings per share. The business's revenue for the quarter was down 6.8% on a year-over-year basis. Research analysts predict that Tennant will post 5.89 earnings per share for the current fiscal year.

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

Tennant Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $0.295 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.18 annualized dividend and a yield of 1.62%. Tennant's dividend payout ratio is 32.96%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Tennant from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 27th.

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.