KBC Group NV Grows Stock Position in Tennant (NYSE:TNC)

KBC Group NV lifted its stake in shares of Tennant (NYSE:TNC) by 69.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 961 shares of the industrial products company’s stock after purchasing an additional 394 shares during the quarter. KBC Group NV’s holdings in Tennant were worth $78,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TNC. The Manufacturers Life Insurance Company raised its stake in shares of Tennant by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 10,451 shares of the industrial products company’s stock worth $1,029,000 after purchasing an additional 702 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of Tennant by 10.5% during the third quarter. Handelsbanken Fonder AB now owns 5,265 shares of the industrial products company’s stock worth $506,000 after purchasing an additional 500 shares during the last quarter. Inspire Investing LLC raised its stake in shares of Tennant by 19.6% during the third quarter. Inspire Investing LLC now owns 4,395 shares of the industrial products company’s stock worth $422,000 after purchasing an additional 720 shares during the last quarter. Annex Advisory Services LLC raised its stake in shares of Tennant by 30.2% during the third quarter. Annex Advisory Services LLC now owns 7,995 shares of the industrial products company’s stock worth $768,000 after purchasing an additional 1,855 shares during the last quarter. Finally, Oliver Luxxe Assets LLC raised its stake in shares of Tennant by 85.5% during the third quarter. Oliver Luxxe Assets LLC now owns 17,056 shares of the industrial products company’s stock worth $1,638,000 after purchasing an additional 7,863 shares during the last quarter. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Tennant Stock Up 0.9 %

Tennant stock opened at $86.33 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 2.17. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 15.23 and a beta of 1.01. Tennant has a fifty-two week low of $78.57 and a fifty-two week high of $124.11. The stock’s fifty day moving average is $83.84 and its two-hundred day moving average is $89.95.

Wall Street Analyst Weigh In

Several research firms have issued reports on TNC. Northcoast Research began coverage on Tennant in a research report on Thursday, December 19th. They issued a “buy” rating and a $125.00 price objective for the company. StockNews.com cut Tennant from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st.

About Tennant

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.