Fuller & Thaler Asset Management Inc. Sells 6,160 Shares of Tennant (NYSE:TNC)

Fuller & Thaler Asset Management Inc. cut its holdings in Tennant (NYSE:TNC) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 484,625 shares of the industrial products company’s stock after selling 6,160 shares during the period. Fuller & Thaler Asset Management Inc. owned about 2.57% of Tennant worth $39,511,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TNC. Sterling Capital Management LLC increased its stake in Tennant by 668.9% during the fourth quarter. Sterling Capital Management LLC now owns 346 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 301 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Tennant during the 4th quarter valued at approximately $59,000. KBC Group NV increased its position in shares of Tennant by 69.5% during the 4th quarter. KBC Group NV now owns 961 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 394 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Tennant by 120.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,100 shares of the industrial products company’s stock worth $90,000 after buying an additional 600 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Tennant in the fourth quarter worth $92,000. 93.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Tennant from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 27th.

Insiders Place Their Bets

In related news, insider Richard H. Zay sold 7,053 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $87.58, for a total value of $617,701.74. Following the completion of the sale, the insider now directly owns 25,770 shares of the company’s stock, valued at $2,256,936.60. This represents a 21.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Barb Balinski sold 1,717 shares of the firm’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 transaction, the senior vice president now directly owns 11,829 shares in the company, valued at $1,022,262.18. This trade represents a 12.68 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Tennant Stock Up 2.2 %

Shares of NYSE:TNC opened at $72.16 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.97 and a quick ratio of 1.43. The business has a 50 day simple moving average of $79.45 and a two-hundred day simple moving average of $84.09. Tennant has a 1 year low of $67.57 and a 1 year high of $117.48. The firm has a market capitalization of $1.36 billion, a PE ratio of 16.47 and a beta of 0.97.

Tennant (NYSE:TNC) last released its earnings results on Monday, February 17th. The industrial products company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. The business had revenue of $328.90 million for the quarter, compared to analyst estimates of $324.00 million. Tennant had a return on equity of 19.98% and a net margin of 6.51%. On average, equities analysts predict that Tennant will post 5.89 EPS for the current year.

Tennant Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.295 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.18 annualized dividend and a yield of 1.64%. Tennant’s dividend payout ratio (DPR) is 26.94%.

Tennant declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 13th that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.