Tennant (NYSE:TNC) Shares Purchased by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL increased its stake in shares of Tennant (NYSE:TNC - Free Report) by 181.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,441 shares of the industrial products company's stock after purchasing an additional 37,656 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.31% of Tennant worth $4,765,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TNC. Vanguard Group Inc. raised 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 buying an additional 12,422 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Tennant by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 597,181 shares of the industrial products company's stock valued at $48,688,000 after purchasing an additional 9,920 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Tennant by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 259,009 shares of the industrial products company's stock worth $21,117,000 after purchasing an additional 5,890 shares in the last quarter. Prudential Financial Inc. grew its position in Tennant by 11.2% during the 4th quarter. Prudential Financial Inc. now owns 204,226 shares of the industrial products company's stock worth $16,651,000 after purchasing an additional 20,627 shares during the last quarter. Finally, Invesco Ltd. grew its position in Tennant by 9.4% during the 4th quarter. Invesco Ltd. now owns 193,421 shares of the industrial products company's stock worth $15,770,000 after purchasing an additional 16,695 shares during the last quarter. Institutional investors own 93.33% of the company's stock.

Analysts Set New Price Targets

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

Tennant Stock Performance

Shares of TNC stock traded up $0.72 during mid-day trading on Wednesday, reaching $71.28. The stock had a trading volume of 6,947 shares, compared to its average volume of 140,956. Tennant has a 1-year low of $67.32 and a 1-year high of $110.45. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 16.27 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 business's fifty day moving average is $76.99 and its 200-day moving average is $82.82.

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

Tennant Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.18 dividend on an annualized basis and a yield of 1.66%. Tennant's dividend payout ratio is presently 32.96%.

Tennant announced that its board has approved 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 repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, 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 directly owns 11,829 shares of the company's stock, valued at $1,022,262.18. This trade represents a 12.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard H. Zay sold 7,053 shares of the business'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 transaction, the insider now directly owns 25,770 shares of the company's stock, valued at $2,256,936.60. The trade was a 21.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Tennant 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.