9,300 Shares in Tennant (NYSE:TNC) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in shares of Tennant (NYSE:TNC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,300 shares of the industrial products company's stock, valued at approximately $862,000.

A number of other institutional investors have also recently bought and sold shares of TNC. SG Americas Securities LLC acquired a new position in Tennant during the third quarter valued at approximately $589,000. Prentiss Smith & Co. Inc. grew its holdings in Tennant by 25.5% during the third quarter. Prentiss Smith & Co. Inc. now owns 83,628 shares of the industrial products company's stock valued at $6,201,000 after purchasing an additional 16,981 shares during the period. New York State Teachers Retirement System grew its holdings in Tennant by 12.7% during the third quarter. New York State Teachers Retirement System now owns 9,305 shares of the industrial products company's stock valued at $690,000 after purchasing an additional 1,048 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Tennant by 25.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,012 shares of the industrial products company's stock valued at $297,000 after buying an additional 802 shares during the period. Finally, Inspire Investing LLC increased its position in shares of Tennant by 6.6% during the third quarter. Inspire Investing LLC now owns 4,229 shares of the industrial products company's stock worth $314,000 after acquiring an additional 260 shares in the last quarter. Institutional investors and hedge funds own 93.33% of the company's stock.

Tennant Stock Up 0.1 %

Shares of TNC stock traded up $0.17 during trading hours on Friday, hitting $115.63. 67,224 shares of the company were exchanged, compared to its average volume of 101,726. The business has a 50 day moving average of $114.90 and a two-hundred day moving average of $97.05. The company has a current ratio of 2.08, a quick ratio of 1.44 and a debt-to-equity ratio of 0.34. Tennant has a 52 week low of $65.42 and a 52 week high of $124.11. The company has a market capitalization of $2.20 billion, a PE ratio of 19.83 and a beta of 1.10.

Tennant (NYSE:TNC - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.65. Tennant had a net margin of 8.81% and a return on equity of 23.07%. The company had revenue of $311.40 million during the quarter, compared to the consensus estimate of $309.87 million. During the same quarter in the prior year, the firm earned $1.46 earnings per share. The firm's revenue was up 7.0% compared to the same quarter last year. Analysts anticipate that Tennant will post 6.44 earnings per share for the current fiscal year.

Tennant Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Wednesday, February 28th. Tennant's dividend payout ratio is 19.21%.

Insider Transactions at Tennant

In related news, SVP Kristin A. Erickson sold 556 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $110.00, for a total transaction of $61,160.00. Following the completion of the transaction, the senior vice president now owns 10,698 shares in the company, valued at $1,176,780. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Carol S. Eicher sold 2,298 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $116.45, for a total transaction of $267,602.10. Following the completion of the transaction, the director now owns 25,540 shares in the company, valued at $2,974,133. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kristin A. Erickson sold 556 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $110.00, for a total transaction of $61,160.00. Following the transaction, the senior vice president now owns 10,698 shares of the company's stock, valued at approximately $1,176,780. The disclosure for this sale can be found here. Insiders sold 17,597 shares of company stock valued at $1,953,293 over the last quarter. Corporate insiders own 2.60% of the company's stock.

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.