Illinois Municipal Retirement Fund Has $1 Million Holdings in Tennant (NYSE:TNC)

Illinois Municipal Retirement Fund trimmed its holdings in shares of Tennant (NYSE:TNC) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,815 shares of the industrial products company’s stock after selling 684 shares during the period. Illinois Municipal Retirement Fund owned about 0.06% of Tennant worth $1,002,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Tennant by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,226,496 shares of the industrial products company’s stock valued at $165,095,000 after purchasing an additional 14,712 shares during the period. Assenagon Asset Management S.A. bought a new position in Tennant in the 3rd quarter valued at about $22,613,000. Charles Schwab Investment Management Inc. raised its holdings in Tennant by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 226,957 shares of the industrial products company’s stock valued at $16,829,000 after acquiring an additional 4,805 shares during the period. Invesco Ltd. raised its holdings in Tennant by 57.8% in the 3rd quarter. Invesco Ltd. now owns 115,739 shares of the industrial products company’s stock valued at $8,582,000 after acquiring an additional 42,407 shares during the period. Finally, Prentiss Smith & Co. Inc. raised its holdings in Tennant by 25.5% in the 3rd quarter. Prentiss Smith & Co. Inc. now owns 83,628 shares of the industrial products company’s stock valued at $6,201,000 after acquiring an additional 16,981 shares during the period. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Tennant Stock Performance

NYSE:TNC opened at $115.63 on Monday. The stock has a fifty day moving average price of $114.90 and a 200-day moving average price of $97.18. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 19.83 and a beta of 1.10. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.44 and a current ratio of 2.08. Tennant has a fifty-two week low of $65.42 and a fifty-two week high of $124.11.

Tennant (NYSE:TNC) last announced its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.65. Tennant had a return on equity of 23.07% and a net margin of 8.81%. The business had revenue of $311.40 million during the quarter, compared to the consensus estimate of $309.87 million. During the same period in the prior year, the company earned $1.46 EPS. Tennant’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities analysts anticipate that Tennant will post 6.44 EPS for the current fiscal year.

Tennant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a $0.28 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $1.12 annualized dividend and a yield of 0.97%. Tennant’s dividend payout ratio is presently 19.21%.

Insider Buying and Selling at Tennant

In other Tennant news, Director Carol S. Eicher sold 2,298 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $116.45, for a total value of $267,602.10. Following the completion of the transaction, the director now directly owns 25,540 shares in the company, valued at $2,974,133. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Kristin A. Erickson sold 556 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $110.00, for a total value of $61,160.00. Following the transaction, the senior vice president now owns 10,698 shares in the company, valued at $1,176,780. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carol S. Eicher sold 2,298 shares of Tennant stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $116.45, for a total value of $267,602.10. Following the sale, the director now owns 25,540 shares in the company, valued at $2,974,133. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,597 shares of company stock worth $1,953,293. 2.40% of the stock is currently owned by insiders.

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.