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.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Thursday, May 30th. Tennant’s dividend payout ratio (DPR) is presently 40.37%.

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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About Tennant

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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