Insider Selling: Tennant (NYSE:TNC) Director Sells $235,898.84 in Stock

Tennant Company (NYSE:TNC) Director David Windley sold 3,694 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $63.86, for a total value of $235,898.84. Following the sale, the director owned 7,422 shares in the company, valued at approximately $473,968.92. This trade represents a 33.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Tennant Stock Performance

NYSE TNC opened at $62.85 on Thursday. The company has a quick ratio of 1.37, a current ratio of 2.05 and a debt-to-equity ratio of 0.45. Tennant Company has a fifty-two week low of $60.17 and a fifty-two week high of $87.72. The business has a fifty day moving average of $76.32 and a 200-day moving average of $77.62. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07.

Tennant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, February 27th. Tennant’s dividend payout ratio is 52.99%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Zacks Research lowered shares of Tennant from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. Wall Street Zen downgraded Tennant from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tennant in a report on Monday, December 29th. Roth Mkm reissued a “buy” rating and set a $91.00 price target (down from $107.00) on shares of Tennant in a research note on Wednesday, February 25th. Finally, Freedom Capital downgraded Tennant from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Tennant currently has an average rating of “Hold” and a consensus price target of $91.00.

Institutional Trading of Tennant

Institutional investors have recently made changes to their positions in the stock. Salomon & Ludwin LLC acquired a new stake in shares of Tennant during the 3rd quarter worth $28,000. Hantz Financial Services Inc. grew its position in Tennant by 85.1% during the fourth quarter. Hantz Financial Services Inc. now owns 385 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 177 shares during the period. CoreCap Advisors LLC acquired a new stake in Tennant during the third quarter worth about $30,000. UMB Bank n.a. raised its holdings in shares of Tennant by 1,778.6% in the 4th quarter. UMB Bank n.a. now owns 526 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 498 shares during the period. Finally, State of Wyoming acquired a new position in shares of Tennant in the 2nd quarter valued at about $73,000. 93.33% of the stock is owned by hedge funds and other institutional investors.

About Tennant

Tennant Company is a global provider of solutions that help keep facilities clean, safe and sustainable. The company designs, manufactures and markets a broad range of cleaning machines, chemicals and service programs that address the cleaning needs of customers in diverse industries, including manufacturing, warehousing, food and beverage, healthcare and education. Tennant’s product portfolio encompasses both ride-on and walk-behind floor scrubbers and sweepers, carpet extractors, power brushes, pressure washers and autonomous cleaning machines.

Founded in 1870 and headquartered in Minneapolis, Minnesota, Tennant has grown from a regional manufacturer into a multinational organization with operations in more than 70 countries and sales representation in over 100 markets worldwide.