Tennant (NYSE:TNC) Shares Sold by Martin & Co. Inc. TN

Martin & Co. Inc. TN decreased its position in shares of Tennant (NYSE:TNC) by 3.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 24,821 shares of the industrial products company’s stock after selling 889 shares during the period. Martin & Co. Inc. TN’s holdings in Tennant were worth $2,024,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Thrivent Financial for Lutherans lifted its stake in Tennant by 0.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 684,156 shares of the industrial products company’s stock worth $65,707,000 after acquiring an additional 3,164 shares in the last quarter. Geode Capital Management LLC increased its holdings in Tennant by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 436,933 shares of the industrial products company’s stock worth $41,971,000 after purchasing an additional 5,862 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Tennant by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 253,119 shares of the industrial products company’s stock worth $24,310,000 after purchasing an additional 3,975 shares during the period. Assenagon Asset Management S.A. increased its holdings in Tennant by 82.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 233,550 shares of the industrial products company’s stock worth $22,430,000 after purchasing an additional 105,319 shares during the period. Finally, Jacobson & Schmitt Advisors LLC increased its holdings in Tennant by 4.2% during the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 110,840 shares of the industrial products company’s stock worth $10,645,000 after purchasing an additional 4,472 shares during the period. Institutional investors and hedge funds own 93.33% of the company’s stock.

Wall Street Analysts Forecast Growth

TNC has been the topic of several recent research reports. StockNews.com downgraded Tennant from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Northcoast Research started coverage on Tennant in a report on Thursday, December 19th. They issued a “buy” rating and a $125.00 price objective on the stock.

Tennant Trading Down 0.9 %

TNC opened at $87.41 on Monday. Tennant has a one year low of $78.57 and a one year high of $124.11. The company has a market cap of $1.65 billion, a P/E ratio of 15.42 and a beta of 1.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 2.17. The business’s 50-day simple moving average is $83.90 and its 200-day simple moving average is $89.13.

Tennant Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of $0.295 per share. The ex-dividend date is Friday, February 28th. This represents a $1.18 dividend on an annualized basis and a yield of 1.35%. Tennant’s dividend payout ratio is presently 20.81%.

Tennant declared that its board has initiated a share repurchase program on Thursday, February 13th that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the industrial products company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Tennant 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.