Sei Investments Co. Has $466,000 Holdings in Tennant (NYSE:TNC)

Sei Investments Co. cut its holdings in Tennant (NYSE:TNC - Free Report) by 64.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,716 shares of the industrial products company's stock after selling 10,348 shares during the quarter. Sei Investments Co.'s holdings in Tennant were worth $466,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new stake in Tennant during the fourth quarter valued at approximately $59,000. KBC Group NV increased its position in Tennant by 69.5% in the fourth 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 last quarter. 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 valued at $81,000 after purchasing an additional 255 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Tennant in the fourth quarter worth approximately $92,000. Finally, Entropy Technologies LP bought a new stake in shares of Tennant during the fourth quarter worth $228,000. Hedge funds and other institutional investors own 93.33% of the company's stock.

Insider Transactions at Tennant

In other news, insider Richard H. Zay sold 7,053 shares of Tennant stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $87.58, for a total value of $617,701.74. Following the completion of the transaction, the insider now directly owns 25,770 shares of the company's stock, valued at approximately $2,256,936.60. The trade was a 21.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Barb Balinski sold 1,717 shares of the business's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $86.42, for a total transaction of $148,383.14. Following the transaction, the senior vice president now directly owns 11,829 shares of the company's stock, valued at $1,022,262.18. The trade was a 12.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.

Tennant Trading Up 0.6 %

NYSE:TNC traded up $0.40 during trading hours on Tuesday, reaching $71.65. 5,272 shares of the stock were exchanged, compared to its average volume of 139,075. Tennant has a twelve month low of $67.80 and a twelve month high of $119.71. The company has a quick ratio of 1.43, a current ratio of 1.97 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average of $82.18 and a two-hundred day moving average of $85.25. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 16.30 and a beta of 0.97.

Tennant (NYSE:TNC - Get Free Report) last issued its quarterly earnings data on Monday, February 17th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.13. Tennant had a return on equity of 19.98% and a net margin of 6.51%. The company had revenue of $328.90 million for the quarter, compared to analyst estimates of $324.00 million. On average, equities analysts predict that Tennant will post 5.89 EPS for the current year.

Tennant declared that its board has approved a stock 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 repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Tennant Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.295 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.65%. Tennant's dividend payout ratio (DPR) is presently 26.94%.

Analysts Set New Price Targets

A number of equities analysts recently commented on TNC shares. Northcoast Research began coverage on shares of Tennant in a research note on Thursday, December 19th. They issued a "buy" rating and a $125.00 price objective for the company. StockNews.com lowered Tennant from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 27th.

About Tennant

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.