SFE Investment Counsel acquired a new stake in Tennant Company (NYSE:TNC – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,175 shares of the industrial products company’s stock, valued at approximately $1,066,000.
Other institutional investors also recently bought and sold shares of the company. Comerica Bank grew its position in Tennant by 1.2% during the 3rd quarter. Comerica Bank now owns 12,290 shares of the industrial products company’s stock worth $996,000 after purchasing an additional 144 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Tennant by 2.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 6,115 shares of the industrial products company’s stock worth $451,000 after buying an additional 148 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Tennant by 85.1% during the fourth quarter. Hantz Financial Services Inc. now owns 385 shares of the industrial products company’s stock worth $28,000 after buying an additional 177 shares during the period. Swiss National Bank lifted its stake in shares of Tennant by 0.6% during the third quarter. Swiss National Bank now owns 34,300 shares of the industrial products company’s stock worth $2,780,000 after buying an additional 200 shares during the period. Finally, State of Tennessee Department of Treasury grew its holdings in shares of Tennant by 3.9% during the fourth quarter. State of Tennessee Department of Treasury now owns 6,559 shares of the industrial products company’s stock valued at $499,000 after buying an additional 247 shares during the last quarter. 93.33% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on TNC. Wall Street Zen downgraded Tennant from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research cut Tennant from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, August 10th. Finally, Weiss Ratings downgraded Tennant from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Tennant has an average rating of “Hold” and an average price target of $91.00.
Insiders Place Their Bets
In other Tennant news, Director Donal L. Mulligan purchased 8,000 shares of the stock in a transaction on Wednesday, August 12th. The shares were bought at an average cost of $67.34 per share, with a total value of $538,720.00. Following the completion of the acquisition, the director owned 16,000 shares in the company, valued at $1,077,440. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Timothy R. Morse purchased 1,500 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were bought at an average cost of $68.18 per share, for a total transaction of $102,270.00. Following the completion of the transaction, the director directly owned 10,614 shares in the company, valued at $723,662.52. This trade represents a 16.46% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 3.50% of the company’s stock.
Tennant Stock Performance
TNC opened at $68.57 on Friday. Tennant Company has a 12-month low of $60.17 and a 12-month high of $91.93. The company has a current ratio of 2.04, a quick ratio of 1.37 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $1.17 billion, a PE ratio of 67.23, a P/E/G ratio of 2.55 and a beta of 1.13. The firm has a 50 day moving average of $84.69 and a two-hundred day moving average of $79.13.
Tennant (NYSE:TNC – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.83 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.50). The business had revenue of $324.00 million during the quarter, compared to analysts’ expectations of $329.55 million. Tennant had a net margin of 1.50% and a return on equity of 13.32%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same period last year, the company earned $1.49 earnings per share. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. On average, analysts anticipate that Tennant Company will post 3.85 EPS for the current year.
Tennant Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $0.31 per share. The ex-dividend date is Monday, August 31st. This represents a $1.24 dividend on an annualized basis and a yield of 1.8%. Tennant’s payout ratio is currently 121.57%.
Tennant announced that its board has approved a stock repurchase program on Monday, May 4th that authorizes the company to buyback 2,000,000,000,000 outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 11.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Tennant Company Profile
Tennant Company is a global provider of solutions that help keep facilities clean, safe and sustainable. The company designs, manufactures and markets a broad range of cleaning machines, chemicals and service programs that address the cleaning needs of customers in diverse industries, including manufacturing, warehousing, food and beverage, healthcare and education. Tennant’s product portfolio encompasses both ride-on and walk-behind floor scrubbers and sweepers, carpet extractors, power brushes, pressure washers and autonomous cleaning machines.
Founded in 1870 and headquartered in Minneapolis, Minnesota, Tennant has grown from a regional manufacturer into a multinational organization with operations in more than 70 countries and sales representation in over 100 markets worldwide.
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