Tennant (NYSE:TNC) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. trimmed its holdings in shares of Tennant (NYSE:TNC - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 549,601 shares of the industrial products company's stock after selling 38,810 shares during the quarter. Brown Advisory Inc. owned approximately 2.91% of Tennant worth $44,809,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Tennant by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 2,394,271 shares of the industrial products company's stock valued at $195,205,000 after purchasing an additional 12,422 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Tennant by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 597,181 shares of the industrial products company's stock worth $48,688,000 after purchasing an additional 9,920 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Tennant by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 259,009 shares of the industrial products company's stock valued at $21,117,000 after buying an additional 5,890 shares during the last quarter. Northern Trust Corp raised its position in Tennant by 21.8% during the 4th quarter. Northern Trust Corp now owns 227,754 shares of the industrial products company's stock worth $18,569,000 after buying an additional 40,729 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in Tennant by 11.2% during the 4th quarter. Prudential Financial Inc. now owns 204,226 shares of the industrial products company's stock valued at $16,651,000 after acquiring an additional 20,627 shares during the period. Hedge funds and other institutional investors own 93.33% of the company's stock.

Tennant Stock Performance

NYSE:TNC traded down $0.32 during trading hours on Friday, reaching $72.36. The company had a trading volume of 122,184 shares, compared to its average volume of 141,425. The firm has a market cap of $1.35 billion, a PE ratio of 16.52 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.97 and a quick ratio of 1.43. The business's 50 day moving average price is $76.27 and its 200-day moving average price is $82.42. Tennant has a 1-year low of $67.32 and a 1-year high of $110.45.

Tennant (NYSE:TNC - Get Free Report) last posted its 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). The business had revenue of $290.00 million for the quarter, compared to analyst estimates of $296.63 million. Tennant had a net margin of 6.51% and a return on equity of 19.98%. Tennant's revenue was down 6.8% on a year-over-year basis. During the same quarter last year, the business earned $1.49 earnings per share. Research analysts forecast that Tennant will post 5.89 EPS for the current year.

Tennant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a dividend of $0.295 per share. The ex-dividend date is Friday, May 30th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.63%. Tennant's dividend payout ratio (DPR) is 32.96%.

Tennant declared that its board has approved a share buyback plan on Thursday, February 13th that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Tennant from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 27th.

Insider Activity at Tennant

In other news, insider Richard H. Zay sold 7,053 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $87.58, for a total transaction of $617,701.74. Following the transaction, the insider now owns 25,770 shares of the company's stock, valued at approximately $2,256,936.60. The trade was a 21.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Barb Balinski sold 1,717 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $86.42, for a total transaction 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. The trade was a 12.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

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.