Clean Yield Group Continues to Hold Position in Tennant Company (TNC)

Clean Yield Group held its position in Tennant Company (NYSE:TNC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,690 shares of the industrial products company’s stock at the end of the second quarter. Clean Yield Group owned about 0.11% of Tennant worth $1,492,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. State of Alaska Department of Revenue boosted its position in Tennant by 79.5% in the second quarter. State of Alaska Department of Revenue now owns 3,500 shares of the industrial products company’s stock valued at $258,000 after buying an additional 1,550 shares during the period. Copper Rock Capital Partners LLC acquired a new position in Tennant during the second quarter valued at $18,979,000. Cambridge Trust Co. boosted its position in Tennant by 30.5% in the first quarter. Cambridge Trust Co. now owns 12,450 shares of the industrial products company’s stock valued at $904,000 after buying an additional 2,910 shares during the period. Goldman Sachs Group Inc. boosted its position in Tennant by 684.6% in the first quarter. Goldman Sachs Group Inc. now owns 273,065 shares of the industrial products company’s stock valued at $19,838,000 after buying an additional 238,264 shares during the period. Finally, Gotham Asset Management LLC acquired a new position in Tennant during the first quarter valued at $476,000. 88.91% of the stock is currently owned by institutional investors.

Tennant Company (TNC) traded up 1.20% during midday trading on Friday, reaching $63.05. The company had a trading volume of 181,099 shares. The company’s 50-day moving average is $72.45 and its 200 day moving average is $71.88. Tennant Company has a 52-week low of $60.10 and a 52-week high of $76.80. The company has a market cap of $1.12 billion, a PE ratio of 55.40 and a beta of 1.07.

Tennant (NYSE:TNC) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.79 by $0.19. Tennant had a net margin of 2.32% and a return on equity of 15.39%. The company had revenue of $270.79 million during the quarter, compared to the consensus estimate of $268.32 million. During the same quarter in the prior year, the business earned $0.85 earnings per share. The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year. On average, equities research analysts forecast that Tennant Company will post $2.28 EPS for the current year.

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Several research firms have weighed in on TNC. BidaskClub cut Tennant from a “sell” rating to a “strong sell” rating in a research note on Friday. TheStreet cut Tennant from a “b-” rating to a “c+” rating in a research note on Wednesday. Finally, Zacks Investment Research cut Tennant from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock currently has an average rating of “Hold” and an average price target of $65.00.

In other news, CFO Thomas Paulson sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $73.95, for a total value of $554,625.00. Following the completion of the sale, the chief financial officer now directly owns 31,755 shares of the company’s stock, valued at $2,348,282.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Richard H. Zay sold 1,280 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $73.00, for a total value of $93,440.00. Following the completion of the sale, the senior vice president now directly owns 15,423 shares of the company’s stock, valued at $1,125,879. The disclosure for this sale can be found here. Company insiders own 5.70% of the company’s stock.

About Tennant

Tennant Company is engaged in designing, manufacturing and marketing of cleaning solutions. The Company’s segments are Americas; Europe, Middle East, Africa, and Asia Pacific. The Company offers a range of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, specialty surface coatings and asset management solutions.

Institutional Ownership by Quarter for Tennant (NYSE:TNC)

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