Amundi Purchases 6,338 Shares of Tennant (NYSE:TNC)

Amundi lifted its holdings in Tennant (NYSE:TNC - Free Report) by 190.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,666 shares of the industrial products company's stock after buying an additional 6,338 shares during the quarter. Amundi owned approximately 0.05% of Tennant worth $773,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TNC. Algert Global LLC lifted its position in Tennant by 16.3% during the 3rd quarter. Algert Global LLC now owns 43,391 shares of the industrial products company's stock valued at $4,167,000 after acquiring an additional 6,085 shares during the period. Eagle Asset Management Inc. purchased a new position in Tennant during the 3rd quarter valued at about $3,873,000. Jane Street Group LLC lifted its position in Tennant by 77.3% during the 3rd quarter. Jane Street Group LLC now owns 30,527 shares of the industrial products company's stock valued at $2,932,000 after acquiring an additional 13,311 shares during the period. Geode Capital Management LLC lifted its position 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 valued at $41,971,000 after acquiring an additional 5,862 shares during the period. Finally, Barclays PLC lifted its position in Tennant by 222.8% during the 3rd quarter. Barclays PLC now owns 40,151 shares of the industrial products company's stock valued at $3,857,000 after acquiring an additional 27,712 shares during the period. 93.33% of the stock is currently owned by institutional investors.

Tennant Stock Down 3.0 %

Tennant stock traded down $2.57 during trading hours on Friday, hitting $81.94. The stock had a trading volume of 653,214 shares, compared to its average volume of 127,376. 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 stock has a market capitalization of $1.54 billion, a P/E ratio of 18.71 and a beta of 1.02. Tennant has a 12-month low of $78.57 and a 12-month high of $124.11. The stock's 50-day moving average price is $85.47 and its 200-day moving average price is $87.38.

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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 (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.13. The business 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%. Equities research analysts anticipate that Tennant will post 5.89 EPS for the current fiscal year.

Tennant Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 1.44%. Tennant's dividend payout ratio (DPR) is presently 26.94%.

Tennant announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 13th that allows the company to buyback 2,000,000 shares. This buyback authorization allows the industrial products company to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Northcoast Research assumed coverage on shares of Tennant in a research report on Thursday, December 19th. They set a "buy" rating and a $125.00 price target for the company. StockNews.com cut shares of Tennant from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 27th.

Insider Activity

In other news, insider Richard H. Zay sold 7,053 shares of the business'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 transaction 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 $2,256,936.60. The trade was a 21.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Barb Balinski sold 1,717 shares of the business's stock in a transaction that occurred on 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. 2.60% of the stock is owned by corporate insiders.

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.