Tennant (NYSE:TNC) Insider Sells $791,642.52 in Stock

Tennant (NYSE:TNC) insider Chris Killingstad sold 12,843 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $61.64, for a total value of $791,642.52. Following the completion of the transaction, the insider now directly owns 168,008 shares of the company’s stock, valued at $10,356,013.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

NYSE:TNC traded down $0.10 during trading hours on Friday, hitting $64.15. The company had a trading volume of 213,073 shares, compared to its average volume of 73,014. The firm has a market capitalization of $1.17 billion, a P/E ratio of 29.43 and a beta of 1.16. 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 has a 1 year low of $48.97 and a 1 year high of $86.03. The business’s 50-day moving average price is $60.10.

Tennant (NYSE:TNC) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.09. Tennant had a return on equity of 14.20% and a net margin of 3.19%. The business had revenue of $262.50 million during the quarter, compared to analysts’ expectations of $278.30 million. During the same period in the prior year, the business posted $0.27 EPS. The company’s revenue was down 3.8% compared to the same quarter last year. On average, equities analysts expect that Tennant will post 2.45 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, May 30th. Tennant’s dividend payout ratio is currently 40.37%.

Separately, Zacks Investment Research upgraded Green Brick Partners from a “sell” rating to a “hold” rating in a report on Thursday, April 25th.

A number of hedge funds have recently bought and sold shares of the business. Quantamental Technologies LLC increased its position in Tennant by 79.9% during the first quarter. Quantamental Technologies LLC now owns 894 shares of the industrial products company’s stock worth $56,000 after buying an additional 397 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Tennant in the first quarter worth about $85,000. Actinver Wealth Management Inc. purchased a new position in shares of Tennant in the fourth quarter worth about $216,000. Nisa Investment Advisors LLC increased its stake in shares of Tennant by 2,818.2% in the first quarter. Nisa Investment Advisors LLC now owns 3,210 shares of the industrial products company’s stock worth $199,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of Tennant in the first quarter worth about $228,000. 84.41% of the stock is currently owned by institutional investors.

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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