Skylands Capital LLC boosted its holdings in Tennant Company (NYSE:TNC – Free Report) by 147.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,100 shares of the industrial products company’s stock after buying an additional 8,400 shares during the quarter. Skylands Capital LLC’s holdings in Tennant were worth $948,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Tennant during the second quarter worth about $236,255,000. Gamco Investors INC. ET AL boosted its stake in shares of Tennant by 40.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 706,400 shares of the industrial products company’s stock valued at $46,905,000 after purchasing an additional 203,802 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Tennant by 8.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 634,158 shares of the industrial products company’s stock valued at $42,106,000 after purchasing an additional 49,136 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Tennant by 27.3% in the 1st quarter. Bank of New York Mellon Corp now owns 333,187 shares of the industrial products company’s stock valued at $22,124,000 after purchasing an additional 71,437 shares in the last quarter. Finally, Gabelli Funds LLC grew its holdings in shares of Tennant by 11.6% during the 1st quarter. Gabelli Funds LLC now owns 199,700 shares of the industrial products company’s stock valued at $13,260,000 after purchasing an additional 20,808 shares during the last quarter. Institutional investors own 93.33% of the company’s stock.
Insider Transactions at Tennant
In other news, Director Donal L. Mulligan acquired 8,000 shares of the stock in a transaction dated Wednesday, August 12th. The stock was bought at an average price of $67.34 per share, with a total value of $538,720.00. Following the completion of the purchase, the director directly owned 16,000 shares of the company’s stock, valued at $1,077,440. This represents a 100.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy R. Morse acquired 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was acquired at an average price of $68.18 per share, with a total value of $102,270.00. Following the acquisition, the director owned 10,614 shares in the company, valued at $723,662.52. The trade was a 16.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 12,500 shares of company stock worth $849,250. Insiders own 3.50% of the company’s stock.
Tennant Trading Down 1.1%
NYSE TNC opened at $65.34 on Thursday. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 64.06, a price-to-earnings-growth ratio of 2.46 and a beta of 1.15. Tennant Company has a twelve month low of $60.17 and a twelve month high of $91.93. The company has a quick ratio of 1.37, a current ratio of 2.04 and a debt-to-equity ratio of 0.67. The business’s fifty day moving average is $68.00 and its 200 day moving average is $78.09.
Tennant (NYSE:TNC – Get Free Report) last issued its earnings results on Wednesday, August 5th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.50). Tennant had a return on equity of 13.32% and a net margin of 1.50%. The firm had revenue of $324.00 million during the quarter, compared to analyst estimates of $329.55 million. During the same period in the previous year, the company earned $1.49 EPS. Tennant’s revenue for the quarter was up 1.7% on a year-over-year basis. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. As a group, sell-side analysts expect that Tennant Company will post 3.84 EPS for the current fiscal year.
Tennant Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, August 31st. Tennant’s dividend payout ratio (DPR) is presently 121.57%.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on TNC. Weiss Ratings cut shares of Tennant from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, September 11th. Zacks Research lowered shares of Tennant from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, August 10th. Finally, Wall Street Zen lowered shares of Tennant from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $91.00.
View Our Latest Stock Analysis on TNC
Tennant Company Profile
Tennant Company is a manufacturer of cleaning equipment and technologies for commercial, industrial and institutional customers. Its product portfolio includes floor scrubbers, sweepers, combination machines, carpet extractors, outdoor cleaning equipment and related vacuum systems. The company also offers cleaning solutions, replacement parts, maintenance programs and other services designed to support facility-management operations.
Tennant develops technology aimed at improving cleaning efficiency and reducing environmental impact.
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