SG Americas Securities LLC Acquires New Shares in Tennant (NYSE:TNC)

SG Americas Securities LLC bought a new position in Tennant (NYSE:TNC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,012 shares of the industrial products company's stock, valued at approximately $246,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Thrivent Financial for Lutherans increased its position in Tennant by 0.5% in the third quarter. Thrivent Financial for Lutherans now owns 684,156 shares of the industrial products company's stock worth $65,707,000 after buying an additional 3,164 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Tennant by 1.4% during the third quarter. Geode Capital Management LLC now owns 436,933 shares of the industrial products company's stock valued at $41,971,000 after purchasing an additional 5,862 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Tennant by 1.6% in 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 acquiring an additional 3,975 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Tennant by 82.1% in the third quarter. Assenagon Asset Management S.A. now owns 233,550 shares of the industrial products company's stock valued at $22,430,000 after purchasing an additional 105,319 shares in the last quarter. Finally, Jacobson & Schmitt Advisors LLC increased its position in Tennant by 4.2% in the third 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 last quarter. 93.33% of the stock is currently owned by hedge funds and other institutional investors.

Tennant Trading Up 0.9 %

NYSE:TNC traded up $0.75 during mid-day trading on Friday, hitting $86.33. 205,102 shares of the stock traded hands, compared to its average volume of 115,282. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 15.23 and a beta of 1.01. Tennant has a 52 week low of $78.57 and a 52 week high of $124.11. The firm's 50 day moving average is $83.84 and its two-hundred day moving average is $89.95.

Analyst Upgrades and Downgrades

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

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.