Accredited Investors Inc. Purchases 186 Shares of Tennant (NYSE:TNC)

Accredited Investors Inc. raised its stake in shares of Tennant (NYSE:TNC) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,348 shares of the industrial products company’s stock after purchasing an additional 186 shares during the quarter. Accredited Investors Inc.’s holdings in Tennant were worth $1,088,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TNC. SBI Securities Co. Ltd. purchased a new stake in shares of Tennant in the 4th quarter worth $59,000. KBC Group NV increased its stake 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 valued at $78,000 after buying an additional 394 shares during the period. TD Private Client Wealth LLC raised its position in shares of Tennant by 43.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 839 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 255 shares in the last quarter. R Squared Ltd purchased a new position in shares of Tennant in the 4th quarter valued at approximately $92,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Tennant during the 4th quarter valued at approximately $104,000. Institutional investors own 93.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TNC. StockNews.com lowered Tennant from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 27th. Northcoast Research initiated coverage on shares of Tennant in a research report on Thursday, December 19th. They set a “buy” rating and a $125.00 price target for the company.

Insider Buying and Selling

In related news, insider Richard H. Zay sold 7,053 shares of the company’s 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 $2,256,936.60. This represents a 21.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Barb Balinski sold 1,717 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $86.42, for a total value of $148,383.14. Following the sale, the senior vice president now directly owns 11,829 shares in the company, valued at approximately $1,022,262.18. This trade represents a 12.68 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Tennant Stock Down 1.9 %

TNC opened at $72.19 on Thursday. The stock has a market cap of $1.36 billion, a P/E ratio of 16.48 and a beta of 0.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.97 and a quick ratio of 1.43. The stock’s 50 day moving average price is $83.02 and its 200 day moving average price is $85.83. Tennant has a 12 month low of $67.80 and a 12 month high of $120.01.

Tennant (NYSE:TNC) last announced its quarterly earnings results on Monday, February 17th. The industrial products company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.39 by $0.13. Tennant had a return on equity of 19.98% and a net margin of 6.51%. The business had revenue of $328.90 million during the quarter, compared to analysts’ expectations of $324.00 million. As a group, research analysts predict that Tennant will post 5.89 earnings per share for the current year.

Tennant Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Friday, February 28th. Tennant’s dividend payout ratio (DPR) is 26.94%.

Tennant announced that its Board of Directors has approved a share repurchase program on Thursday, February 13th that authorizes the company to buyback 2,000,000 shares. This buyback authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Tennant Company 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.