Aigen Investment Management LP Has $679,000 Holdings in Tennant (NYSE:TNC)

Aigen Investment Management LP grew its position in shares of Tennant (NYSE:TNC - Free Report) by 227.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,331 shares of the industrial products company's stock after buying an additional 5,788 shares during the period. Aigen Investment Management LP's holdings in Tennant were worth $679,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TNC. Thrivent Financial for Lutherans boosted its stake 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 valued at $65,707,000 after acquiring an additional 3,164 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Tennant by 1.4% in 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 last quarter. Charles Schwab Investment Management Inc. boosted its position in Tennant by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 259,009 shares of the industrial products company's stock valued at $21,117,000 after purchasing an additional 5,890 shares during the period. Jacobson & Schmitt Advisors LLC grew its stake in Tennant by 15.3% during the 4th quarter. Jacobson & Schmitt Advisors LLC now owns 127,774 shares of the industrial products company's stock worth $10,417,000 after buying an additional 16,934 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Tennant by 3.6% during the 4th quarter. Principal Financial Group Inc. now owns 101,320 shares of the industrial products company's stock worth $8,261,000 after buying an additional 3,518 shares during the last quarter. Institutional investors and hedge funds own 93.33% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. StockNews.com lowered shares of Tennant from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 27th. Northcoast Research started coverage on Tennant in a research note on Thursday, December 19th. They issued a "buy" rating and a $125.00 price objective on the stock.

Insider Activity at Tennant

In related news, insider Richard H. Zay sold 7,053 shares of the company's stock in a transaction that occurred on 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 sale, the insider now owns 25,770 shares in the company, valued at approximately $2,256,936.60. This represents a 21.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Barb Balinski sold 1,717 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $86.42, for a total value of $148,383.14. Following the completion of the sale, the senior vice president now owns 11,829 shares of the company's stock, valued at $1,022,262.18. The trade was a 12.68 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Tennant Price Performance

Shares of NYSE:TNC traded down $1.91 during trading hours on Monday, hitting $84.63. 173,887 shares of the company's stock traded hands, compared to its average volume of 125,743. The company's fifty day simple moving average is $84.89 and its two-hundred day simple moving average is $88.19. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 19.32 and a beta of 1.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 1.97. Tennant has a 52 week low of $78.57 and a 52 week high of $124.11.

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

Tennant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.295 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.39%. Tennant's dividend payout ratio (DPR) is 26.94%.

Tennant declared that its board has authorized a stock buyback plan on Thursday, February 13th that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is 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.