Boston Trust Walden Corp Raises Stock Holdings in Tennant (NYSE:TNC)

Boston Trust Walden Corp increased its stake in shares of Tennant (NYSE:TNC) by 9.6% in the third quarter, HoldingsChannel reports. The firm owned 158,532 shares of the industrial products company’s stock after buying an additional 13,829 shares during the period. Boston Trust Walden Corp’s holdings in Tennant were worth $11,209,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its stake in shares of Tennant by 237.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 674 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 474 shares during the last quarter. Royal Bank of Canada raised its stake in Tennant by 264.7% in the second quarter. Royal Bank of Canada now owns 755 shares of the industrial products company’s stock valued at $46,000 after buying an additional 548 shares during the last quarter. Bessemer Group Inc. purchased a new stake in Tennant in the second quarter valued at about $49,000. Russell Investments Group Ltd. purchased a new stake in Tennant in the second quarter valued at about $71,000. Finally, Marshall Wace North America L.P. purchased a new stake in Tennant in the first quarter valued at about $85,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Tennant stock opened at $69.86 on Wednesday. The stock has a 50-day moving average of $69.62 and a two-hundred day moving average of $65.46. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.23 and a current ratio of 1.85. Tennant has a one year low of $48.97 and a one year high of $78.64. The stock has a market cap of $1.26 billion, a PE ratio of 32.05 and a beta of 1.23.

Tennant (NYSE:TNC) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.34. Tennant had a return on equity of 15.61% and a net margin of 3.35%. The company had revenue of $299.70 million during the quarter, compared to analysts’ expectations of $301.00 million. During the same period last year, the business posted $0.82 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts predict that Tennant will post 2.69 EPS for the current fiscal year.

A number of equities research analysts have commented on TNC shares. ValuEngine cut Tennant from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. TheStreet upgraded Tennant from a “c+” rating to a “b” rating in a research note on Wednesday, July 31st. Finally, Zacks Investment Research upgraded Tennant from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Tuesday.

In other news, SVP Richard H. Zay sold 4,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $72.49, for a total value of $289,960.00. Following the transaction, the senior vice president now directly owns 27,184 shares of the company’s stock, valued at $1,970,568.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chris Killingstad sold 12,843 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $73.34, for a total value of $941,905.62. Following the completion of the transaction, the chief executive officer now directly owns 168,008 shares in the company, valued at $12,321,706.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,031 shares of company stock valued at $3,049,677. 5.60% of the stock is currently owned by company insiders.

Tennant Profile

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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Institutional Ownership by Quarter for Tennant (NYSE:TNC)

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