5,597 Shares in Tennant (NYSE:TNC) Acquired by Walleye Capital LLC

Walleye Capital LLC acquired a new stake in shares of Tennant (NYSE:TNC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 5,597 shares of the industrial products company's stock, valued at approximately $456,000.

Several other institutional investors and hedge funds have also modified their holdings of TNC. XTX Topco Ltd grew its holdings in shares of Tennant by 46.3% during the fourth quarter. XTX Topco Ltd now owns 7,073 shares of the industrial products company's stock worth $577,000 after buying an additional 2,239 shares in the last quarter. Barclays PLC raised its holdings in shares of Tennant by 3.9% in the fourth quarter. Barclays PLC now owns 41,707 shares of the industrial products company's stock valued at $3,401,000 after purchasing an additional 1,556 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Tennant by 7.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,983 shares of the industrial products company's stock worth $162,000 after purchasing an additional 142 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Tennant by 668.9% during the fourth quarter. Sterling Capital Management LLC now owns 346 shares of the industrial products company's stock worth $28,000 after purchasing an additional 301 shares during the last quarter. Finally, Accredited Investors Inc. grew its position in Tennant by 1.4% in the fourth quarter. Accredited Investors Inc. now owns 13,348 shares of the industrial products company's stock valued at $1,088,000 after purchasing an additional 186 shares in the last quarter. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tennant

In related news, insider Richard H. Zay sold 7,053 shares of Tennant 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 completion of the sale, 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 filing with the SEC, which is accessible through the SEC website. Also, SVP Barb Balinski sold 1,717 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $86.42, for a total transaction of $148,383.14. Following the completion of the transaction, the senior vice president now directly owns 11,829 shares in the company, valued at approximately $1,022,262.18. This represents 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 currently owned by corporate insiders.

Tennant Stock Up 0.2 %

Shares of Tennant stock traded up $0.16 on Tuesday, reaching $72.82. 6,224 shares of the company were exchanged, compared to its average volume of 174,866. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 16.63 and a beta of 0.97. The company has a current ratio of 1.97, a quick ratio of 1.43 and a debt-to-equity ratio of 0.32. Tennant has a one year low of $67.57 and a one year high of $117.48. The company has a 50-day moving average of $78.86 and a 200 day moving average of $83.69.

Tennant (NYSE:TNC - Get Free Report) last posted its quarterly earnings results on Monday, February 17th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.13. The firm had revenue of $328.90 million for the quarter, compared to analyst estimates of $324.00 million. Tennant had a net margin of 6.51% and a return on equity of 19.98%. On average, equities research analysts forecast that Tennant will post 5.89 earnings per share for the current year.

Tennant Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.295 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.62%. Tennant's payout ratio is 26.94%.

Tennant declared that its Board of Directors has approved a share repurchase plan on Thursday, February 13th that permits the company to repurchase 2,000,000 outstanding shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

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 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.