Tennant (NYSE:TNC) Shares Sold by White Pine Capital LLC

White Pine Capital LLC reduced its position in shares of Tennant (NYSE:TNC) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,345 shares of the industrial products company’s stock after selling 200 shares during the period. White Pine Capital LLC’s holdings in Tennant were worth $354,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TNC. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Tennant by 84.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 527 shares of the industrial products company’s stock valued at $51,000 after buying an additional 241 shares during the period. nVerses Capital LLC acquired a new position in shares of Tennant in the 3rd quarter valued at $77,000. KBC Group NV grew its holdings in shares of Tennant by 69.5% during the 4th 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 increased its position in shares of Tennant by 43.7% during the 3rd 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 last quarter. Finally, R Squared Ltd purchased a new stake in Tennant in the 4th quarter valued at about $92,000. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Tennant Price Performance

TNC stock opened at $88.16 on Friday. The business’s fifty day moving average price is $83.82 and its 200 day moving average price is $89.53. Tennant has a 12-month low of $78.57 and a 12-month high of $124.11. The company has a current ratio of 2.17, a quick ratio of 1.43 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $1.66 billion, a PE ratio of 15.55 and a beta of 1.01.

Tennant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.295 per share. The ex-dividend date is Friday, February 28th. This represents a $1.18 annualized dividend and a dividend yield of 1.34%. Tennant’s dividend payout ratio is presently 20.81%.

Tennant announced that its board has initiated a share buyback program on Thursday, February 13th that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the industrial products company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are 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.