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Barb Balinski, Senior Vice President and Chief Transformation Officer at Tennant Co (NYSE:TNC), recently sold a significant portion of her holdings in the company. According to a SEC filing, Balinski sold 1,717 shares of Tennant’s common stock on February 28, 2025, at a price of $86.42 per share, amounting to a total of $148,383. Following this transaction, Balinski’s direct ownership stands at 11,829 shares. The $1.55 billion market cap company is currently trading near its 52-week low, and InvestingPro analysis suggests the stock may be undervalued at current levels.
Additionally, on March 1, 2025, Balinski disposed of 358 shares for tax withholding purposes at a price of $86.56 per share, totaling $30,988. After these transactions, her remaining direct ownership is 11,471 shares. Tennant Co, based in Eden Prairie, Minnesota, is a prominent player in the refrigeration and service industry machinery sector. The company maintains a strong financial position with a P/E ratio of 14.3 and has raised its dividend for 32 consecutive years. InvestingPro subscribers can access 8 additional key insights about TNC’s financial health and growth prospects.
In other recent news, Tennant Company reported its fourth-quarter earnings for 2024, exceeding analysts’ expectations with an earnings per share (EPS) of $1.52, compared to the forecasted $1.35. The company’s revenue also surpassed projections, reaching $328.9 million against the anticipated $323.8 million. Despite these positive results, Tennant’s stock experienced a decline, attributed to investor concerns over the company’s future guidance, which includes a potential decline in organic sales for 2025. Tennant has expressed optimism about its autonomous mobile robot (AMR) product line, with plans to exceed $100 million in AMR revenue by 2027. The company continues to focus on strategic growth initiatives and innovation, aiming for significant growth in its AMR sector. Additionally, Tennant has been active in mergers and acquisitions, with recent investments in GrainCorp and the acquisition of TCS. These developments are part of Tennant’s strategy to drive long-term growth and expand its market leadership.
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