February 1, 2023

Comerica Bank reduced its position in Tennant (NYSE:TNC – Get Rating) stock by 10.4% in the third quarter, the company said in its recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,164 shares of the industrial products company after selling 1,648 shares during the period. Comerica Bank owned approximately 0.08% of Tennant worth $842,000 at the end of the most recent reporting period.

Other institutional investors have also recently changed their positions in the company. Thrivent Financial for Lutherans increased its position in Tennant shares by 2.5% in the second quarter. Thrivent Financial for Lutherans now owns 496,707 shares of the industrial products company worth $29,430,000 after purchasing an additional 12,089 shares last quarter. First Horizon Advisors Inc. increased its position in Tennant shares by 45.7% during the second quarter. First Horizon Advisors Inc. now owns 721 shares of the $43,000 industrial products company after purchasing an additional 226 shares last quarter. Russell Investments Group Ltd. increased its position in Tennant shares by 10.8% in the second quarter. Russell Investments Group Ltd. now owns 155,838 shares of the industrial products company worth $9,232,000 after purchasing an additional 15,153 shares last quarter. The Alaska Department of Treasury increased its position in Tennant shares by 8.5% in the second quarter. The Alaska Department of Treasury now owns 14,050 shares of the industrial products company, valued at $832,000, after purchasing an additional 1,095 shares last quarter. Finally, Gamco Investors INC. ET AL increased its stake in Tennant shares by 3.8% in the second quarter. Gamco Investors INC. ET AL now owns 433,325 shares of the industrial products company, valued at $25,675,000, after purchasing an additional 15,775 shares last quarter. Hedge funds and other institutional investors own 88.51% of the company’s shares.

Tennant stock up 0.6%

NYSE:TNC shares opened at $67.97 on Thursday. The company has a current ratio of 2.14, a quick ratio of 1.32 and a debt-to-equity ratio of 0.65. Tennant has a 12-month low of $54.90 and a 12-month high of $85.33. The company has a 50-day moving average price of $63.51 and a 200-day moving average price of $62.46. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 25.27 and a beta of 1.03.

Tennant (NYSE:TNC – Get Rating) last reported its quarterly earnings results on Thursday, October 27th. The industrial products company reported $0.99 per share for the quarter. The company had revenue of $262.90 million for the quarter. Tennant had a net margin of 4.68% and a return on equity of 14.50%. As a group, equity analysts are forecasting that Tennant will report year-to-date earnings per share of 3.9.

Analyst upgrades and downgrades

Separately, StockNews.com took over coverage of Tennant’s stock in a report Wednesday, October 12. They gave the company a buy rating.

Insiders place their bets

In other news from Tennant, director Steven Alan Sonnenberg sold 2,320 shares of the company’s stock in a transaction on Friday, November 11th. The shares sold at an average price of $46.59 for a total value of $108,088.80. Upon completion of the sale, the Director now owns 21,547 shares of the Company, valued at $1,003,874.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. 2.50% of the shares are owned by insiders.

Tennant Company Profile

(received rating)

Tennant Company, together with its subsidiaries, designs, manufactures and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa and Asia Pacific. The Company offers a range of products including floor care and cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, specialty surface coatings and asset management solutions.

Selected items

Institutional Ownership by Quarter for Tennant (NYSE:TNC)

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