Trexquant Investment LP Acquires 26,118 Shares of Tennant (NYSE:TNC)

Trexquant Investment LP boosted its holdings in Tennant (NYSE:TNC - Free Report) by 104.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,141 shares of the industrial products company's stock after buying an additional 26,118 shares during the period. Trexquant Investment LP owned approximately 0.27% of Tennant worth $4,170,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Jane Street Group LLC grew its holdings in shares of Tennant by 77.3% in 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 buying an additional 13,311 shares during the period. Geode Capital Management LLC increased its holdings in shares of Tennant by 1.4% in the third quarter. Geode Capital Management LLC now owns 436,933 shares of the industrial products company's stock worth $41,971,000 after acquiring an additional 5,862 shares in the last quarter. Amundi raised its position in shares of Tennant by 190.4% during the fourth quarter. Amundi now owns 9,666 shares of the industrial products company's stock worth $773,000 after purchasing an additional 6,338 shares during the period. Barclays PLC lifted its stake in Tennant by 222.8% in the third quarter. Barclays PLC now owns 40,151 shares of the industrial products company's stock valued at $3,857,000 after buying an additional 27,712 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in Tennant by 4.0% in the 3rd quarter. Janus Henderson Group PLC now owns 25,975 shares of the industrial products company's stock valued at $2,494,000 after acquiring an additional 1,008 shares in the last quarter. Institutional investors and hedge funds own 93.33% of the company's stock.

Analyst Upgrades and Downgrades

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

Tennant Stock Performance

Shares of NYSE TNC traded down $2.63 during midday trading on Thursday, hitting $70.99. 26,364 shares of the company's stock were exchanged, compared to its average volume of 185,451. 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 firm has a market capitalization of $1.33 billion, a PE ratio of 16.21 and a beta of 0.97. Tennant has a 12 month low of $67.80 and a 12 month high of $119.71. The company's 50 day moving average price is $83.02 and its 200 day moving average price is $85.83.

Tennant (NYSE:TNC - Get Free Report) last released its quarterly earnings data on Monday, February 17th. The industrial products company reported $1.52 EPS 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, analysts predict that Tennant will post 5.89 earnings per share for the current fiscal year.

Tennant Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, February 28th. Tennant's dividend payout ratio is presently 26.94%.

Tennant declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 13th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other news, insider Richard H. Zay sold 7,053 shares of Tennant stock in a transaction on Monday, February 24th. The stock was sold at an average price of $87.58, for a total transaction of $617,701.74. Following the completion of the sale, the insider now owns 25,770 shares of the company's stock, valued at approximately $2,256,936.60. This trade represents a 21.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Barb Balinski sold 1,717 shares of the company'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 completion of the transaction, the senior vice president now owns 11,829 shares in the company, valued at $1,022,262.18. This trade represents 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 company insiders.

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.