Janus Henderson Group PLC Has $639,000 Stock Position in Tennant (NYSE:TNC)

Janus Henderson Group PLC lessened its stake in shares of Tennant (NYSE:TNC - Free Report) by 69.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,824 shares of the industrial products company's stock after selling 18,151 shares during the period. Janus Henderson Group PLC's holdings in Tennant were worth $639,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC raised its stake in Tennant by 668.9% in the fourth quarter. Sterling Capital Management LLC now owns 346 shares of the industrial products company's stock valued at $28,000 after buying an additional 301 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Tennant during the fourth quarter worth about $59,000. KBC Group NV grew its stake in shares of Tennant by 69.5% in the 4th 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 last quarter. Canada Pension Plan Investment Board grew its position in Tennant by 120.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,100 shares of the industrial products company's stock valued at $90,000 after buying an additional 600 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of Tennant during the fourth quarter worth about $92,000. Institutional investors and hedge funds own 93.33% of the company's stock.

Tennant Trading Up 1.5%

Shares of TNC traded up $1.08 during mid-day trading on Thursday, reaching $74.55. The company had a trading volume of 107,244 shares, compared to its average volume of 142,122. Tennant has a fifty-two week low of $67.32 and a fifty-two week high of $110.45. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 17.02 and a beta of 1.07. The company has a current ratio of 1.97, a quick ratio of 1.43 and a debt-to-equity ratio of 0.32. The firm has a fifty day simple moving average of $73.94 and a 200-day simple moving average of $81.22.

Tennant (NYSE:TNC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $1.12 earnings per share for the quarter, missing the consensus estimate 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 analysts' expectations of $296.63 million. During the same quarter last year, the company posted $1.49 earnings per share. Tennant's revenue for the quarter was down 6.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Tennant will post 5.89 EPS for the current fiscal year.

Tennant announced that its Board of Directors has approved a share repurchase plan on Thursday, February 13th that authorizes the company to buyback 2,000,000 shares. This buyback authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Tennant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, May 30th. Tennant's dividend payout ratio is presently 32.96%.

Insider Transactions at Tennant

In related news, SVP Barb Balinski sold 1,717 shares of the 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 completion of the transaction, the senior vice president now directly owns 11,829 shares of the company's stock, valued at $1,022,262.18. This represents a 12.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

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

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.