Tennant (NYSE:TNC) Shares Sold by Martin & Co. Inc. TN

Martin & Co. Inc. TN lessened its holdings in Tennant (NYSE:TNC) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,821 shares of the industrial products company’s stock after selling 889 shares during the quarter. Martin & Co. Inc. TN owned 0.13% of Tennant worth $2,024,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TNC. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Tennant by 84.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 527 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 241 shares during the period. nVerses Capital LLC acquired a new stake in shares of Tennant during the third quarter worth about $77,000. KBC Group NV lifted its holdings in shares of Tennant by 69.5% during the fourth quarter. KBC Group NV now owns 961 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 394 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of Tennant by 43.7% during the third quarter. TD Private Client Wealth LLC now owns 839 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 255 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of Tennant during the fourth quarter worth about $92,000. Institutional investors and hedge funds own 93.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TNC shares. Northcoast Research started coverage on Tennant in a report on Thursday, December 19th. They issued a “buy” rating and a $125.00 price target for the company. StockNews.com downgraded Tennant from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st.

Tennant Stock Down 0.9 %

Tennant stock opened at $87.41 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.43. Tennant has a 12 month low of $78.57 and a 12 month high of $124.11. The stock has a market capitalization of $1.65 billion, a PE ratio of 15.42 and a beta of 1.01. The business has a 50 day simple moving average of $83.90 and a 200-day simple moving average of $89.13.

Tennant declared that its board has authorized a share buyback program on Thursday, February 13th that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Tennant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Friday, February 28th. Tennant’s dividend payout ratio (DPR) is currently 20.81%.

About Tennant

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.