SG Americas Securities LLC Makes New $246,000 Investment in Tennant (NYSE:TNC)

SG Americas Securities LLC purchased a new stake in shares of Tennant (NYSE:TNC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,012 shares of the industrial products company’s stock, valued at approximately $246,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Albert D Mason Inc. boosted its position in Tennant by 1.5% during the fourth quarter. Albert D Mason Inc. now owns 9,811 shares of the industrial products company’s stock valued at $800,000 after purchasing an additional 145 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Tennant by 1.3% during the 3rd quarter. Franklin Resources Inc. now owns 12,908 shares of the industrial products company’s stock valued at $1,213,000 after buying an additional 169 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Tennant by 0.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 43,451 shares of the industrial products company’s stock valued at $4,173,000 after buying an additional 239 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Tennant by 84.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 527 shares of the industrial products company’s stock valued at $51,000 after buying an additional 241 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in Tennant by 43.7% in the third quarter. TD Private Client Wealth LLC now owns 839 shares of the industrial products company’s stock worth $81,000 after buying an additional 255 shares during the last quarter. 93.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. StockNews.com cut shares of Tennant from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Northcoast Research started coverage on shares of Tennant in a research note on Thursday, December 19th. They issued a “buy” rating and a $125.00 price objective for the company.

Tennant Stock Performance

TNC opened at $85.44 on Friday. The stock has a 50-day moving average of $83.94 and a 200-day moving average of $90.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 2.17. Tennant has a 52-week low of $78.57 and a 52-week high of $124.11. The company has a market cap of $1.61 billion, a PE ratio of 15.07 and a beta of 1.01.

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.