Suntrust Banks Inc. continued to hold its stake in shares of Tennant Company (NYSE:TNC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,500 shares of the company’s stock at the end of the third quarter. Suntrust Banks Inc.’s holdings in Tennant Company were worth $356,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the stock. Barclays PLC boosted its stake in shares of Tennant Company by 1,114.5% in the second quarter. Barclays PLC now owns 2,004 shares of the company’s stock worth $108,000 after buying an additional 1,839 shares during the period. PineBridge Investments L.P. boosted its stake in shares of Tennant Company by 6.9% in the second quarter. PineBridge Investments L.P. now owns 2,241 shares of the company’s stock worth $121,000 after buying an additional 144 shares during the period. BlackRock Inc. boosted its stake in shares of Tennant Company by 10.3% in the third quarter. BlackRock Inc. now owns 1,907 shares of the company’s stock worth $124,000 after buying an additional 178 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Tennant Company by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 2,381 shares of the company’s stock worth $128,000 after buying an additional 285 shares during the period. Finally, Mason Street Advisors LLC purchased a new stake in shares of Tennant Company during the second quarter worth about $186,000. 88.35% of the stock is owned by hedge funds and other institutional investors.
Tennant Company (NYSE:TNC) traded up 1.25% during mid-day trading on Friday, reaching $68.90. The company’s stock had a trading volume of 33,374 shares. The firm has a 50-day moving average of $70.60 and a 200-day moving average of $66.18. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 27.79 and a beta of 1.01. Tennant Company has a 52 week low of $45.92 and a 52 week high of $76.80.
Separately, Zacks Investment Research raised Tennant Company from a “sell” rating to a “hold” rating in a research report on Thursday, January 5th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $43.98.
Tennant Company Company Profile
Tennant Company (Tennant) is engaged in designing, manufacturing and marketing cleaning solutions. The Company is organized into four operating segments: North America; Latin America; Europe, Middle East, Africa, and Asia Pacific. The Company offers products and solutions consisting of mechanized cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, specialty surface coatings, and business solutions, such as financing, rental and leasing programs, and machine-to-machine asset management solutions.
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