Tennant (NYSE:TNC) Shares Cross Above Two Hundred Day Moving Average of $94.36

Tennant (NYSE:TNC) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $94.36 and traded as high as $119.40. Tennant shares last traded at $116.28, with a volume of 105,860 shares changing hands.

Analysts Set New Price Targets

Separately, CL King began coverage on Tennant in a report on Thursday, December 28th. They issued a “buy” rating and a $112.00 target price on the stock.

Tennant Price Performance

The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 19.93 and a beta of 1.10. The stock has a fifty day simple moving average of $112.16 and a 200-day simple moving average of $94.94. The company has a current ratio of 2.08, a quick ratio of 1.44 and a debt-to-equity ratio of 0.34.

Tennant (NYSE:TNC) last announced its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $1.92 earnings per share for the quarter, topping 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 company had revenue of $311.40 million for the quarter, compared to analyst estimates of $309.87 million. During the same quarter last year, the firm earned $1.46 EPS. Tennant’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities research analysts expect that Tennant will post 6.44 EPS for the current year.

Tennant Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Wednesday, February 28th. Tennant’s payout ratio is presently 19.21%.

Insider Transactions at Tennant

In other news, SVP Kristin A. Erickson sold 556 shares of Tennant stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $110.00, for a total transaction of $61,160.00. Following the sale, the senior vice president now owns 10,698 shares of the company’s stock, valued at approximately $1,176,780. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Kristin A. Erickson sold 556 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $110.00, for a total transaction of $61,160.00. Following the completion of the transaction, the senior vice president now owns 10,698 shares in the company, valued at approximately $1,176,780. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carol S. Eicher sold 2,298 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $116.45, for a total value of $267,602.10. Following the transaction, the director now owns 25,540 shares of the company’s stock, valued at approximately $2,974,133. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,597 shares of company stock valued at $1,953,293. 2.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tennant

Several institutional investors have recently bought and sold shares of the business. Graham Capital Management L.P. bought a new stake in shares of Tennant during the third quarter worth $799,000. Charles Schwab Investment Management Inc. raised its position in shares of Tennant by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 226,957 shares of the industrial products company’s stock worth $16,829,000 after acquiring an additional 4,805 shares during the last quarter. Qube Research & Technologies Ltd raised its position 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 acquiring an additional 32,483 shares during the last quarter. Invesco Ltd. raised its position in shares of Tennant by 57.8% during the third quarter. Invesco Ltd. now owns 115,739 shares of the industrial products company’s stock worth $8,582,000 after acquiring an additional 42,407 shares during the last quarter. Finally, Tudor Investment Corp Et Al grew its stake in shares of Tennant by 539.4% during the third quarter. Tudor Investment Corp Et Al now owns 46,734 shares of the industrial products company’s stock worth $3,465,000 after purchasing an additional 39,425 shares during the period. Institutional investors own 93.33% of the company’s stock.

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.