Yousif Capital Management LLC Has $896,000 Stock Position in Tennant (NYSE:TNC)

Yousif Capital Management LLC lifted its stake in Tennant (NYSE:TNC) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,672 shares of the industrial products company’s stock after buying an additional 453 shares during the period. Yousif Capital Management LLC owned about 0.05% of Tennant worth $896,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. acquired a new position in Tennant during the third quarter worth $22,613,000. Invesco Ltd. lifted its holdings in Tennant by 57.8% during the 3rd quarter. Invesco Ltd. now owns 115,739 shares of the industrial products company’s stock valued at $8,582,000 after purchasing an additional 42,407 shares during the last quarter. Tudor Investment Corp Et Al boosted its position in Tennant by 539.4% in the third quarter. Tudor Investment Corp Et Al now owns 46,734 shares of the industrial products company’s stock valued at $3,465,000 after buying an additional 39,425 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Tennant by 930.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 37,159 shares of the industrial products company’s stock worth $3,444,000 after buying an additional 33,552 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Tennant by 174.0% during the third quarter. Qube Research & Technologies Ltd now owns 51,153 shares of the industrial products company’s stock worth $3,793,000 after buying an additional 32,483 shares in the last quarter. Institutional investors own 93.33% of the company’s stock.

Insider Buying and Selling at Tennant

In other news, insider Richard H. Zay sold 14,743 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $110.19, for a total transaction of $1,624,531.17. Following the transaction, the insider now directly owns 11,095 shares in the company, valued at $1,222,558.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Richard H. Zay sold 14,743 shares of Tennant stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $110.19, for a total value of $1,624,531.17. Following the completion of the sale, the insider now directly owns 11,095 shares of the company’s stock, valued at approximately $1,222,558.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carol S. Eicher sold 2,298 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $116.45, for a total value of $267,602.10. Following the completion of the transaction, the director now owns 25,540 shares in the company, valued at approximately $2,974,133. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,597 shares of company stock worth $1,953,293. 2.60% of the stock is currently owned by corporate insiders.

Tennant Stock Down 7.5 %

Shares of TNC opened at $106.97 on Friday. The company has a market capitalization of $2.03 billion, a P/E ratio of 17.77 and a beta of 1.10. Tennant has a one year low of $72.60 and a one year high of $124.11. The business’s 50 day simple moving average is $116.03 and its 200-day simple moving average is $98.37. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.08 and a quick ratio of 1.44.

Tennant (NYSE:TNC) last issued its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.65. Tennant had a return on equity of 23.07% and a net margin of 8.81%. The firm had revenue of $311.40 million during the quarter, compared to the consensus estimate of $309.87 million. During the same quarter in the previous year, the company posted $1.46 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, sell-side analysts predict that Tennant will post 6.44 EPS for the current fiscal year.

Tennant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Friday, May 31st. Tennant’s dividend payout ratio is currently 18.60%.

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.