Tennant (TNC) Director Sells $147,339.36 in Stock
Tennant (NYSE:TNC) Director Steven Alan Sonnenberg sold 2,256 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $65.31, for a total transaction of $147,339.36. Following the transaction, the director now directly owns 18,827 shares in the company, valued at $1,229,591.37. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of TNC stock opened at $63.00 on Friday. Tennant has a 12 month low of $48.97 and a 12 month high of $86.03. The firm has a market cap of $1.17 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 2.63 and a beta of 1.15. The company has a current ratio of 1.69, a quick ratio of 1.10 and a debt-to-equity ratio of 1.03.
Tennant (NYSE:TNC) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.09. Tennant had a net margin of 3.19% and a return on equity of 14.20%. The firm had revenue of $262.50 million for the quarter, compared to analysts’ expectations of $278.30 million. During the same quarter in the previous year, the business posted $0.27 EPS. The company’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, analysts expect that Tennant will post 2.45 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. Texas Permanent School Fund boosted its holdings in shares of Tennant by 4.3% during the 4th quarter. Texas Permanent School Fund now owns 11,861 shares of the industrial products company’s stock valued at $618,000 after buying an additional 489 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Tennant by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,874,622 shares of the industrial products company’s stock valued at $142,377,000 after buying an additional 43,564 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Tennant by 20.0% during the 4th quarter. Rhumbline Advisers now owns 53,234 shares of the industrial products company’s stock valued at $2,774,000 after buying an additional 8,889 shares in the last quarter. Actinver Wealth Management Inc. bought a new stake in shares of Tennant during the 4th quarter valued at $216,000. Finally, Oregon Public Employees Retirement Fund bought a new stake in shares of Tennant during the 4th quarter valued at $359,000. Hedge funds and other institutional investors own 85.48% of the company’s stock.
Separately, Zacks Investment Research downgraded shares of Tennant from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th.
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Tennant Company designs, manufactures, and markets floor cleaning equipment worldwide. The company offers a suite of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, specialty surface coatings, and asset management solutions.
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