Inceptionr LLC Buys Shares of 6,871 Tennant Company $TNC

Inceptionr LLC purchased a new stake in shares of Tennant Company (NYSE:TNC) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,871 shares of the industrial products company’s stock, valued at approximately $456,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Tennant by 8.4% in the first quarter. Dimensional Fund Advisors LP now owns 634,158 shares of the industrial products company’s stock valued at $42,106,000 after acquiring an additional 49,136 shares during the period. Gamco Investors INC. ET AL increased its holdings in Tennant by 0.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 502,598 shares of the industrial products company’s stock worth $37,041,000 after acquiring an additional 2,803 shares during the period. Millennium Management LLC increased its holdings in Tennant by 33.8% during the 4th quarter. Millennium Management LLC now owns 358,452 shares of the industrial products company’s stock worth $26,418,000 after acquiring an additional 90,611 shares during the period. Vision One Management Partners LP lifted its stake in Tennant by 18.1% in the 4th quarter. Vision One Management Partners LP now owns 344,585 shares of the industrial products company’s stock worth $25,396,000 after purchasing an additional 52,721 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in 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 worth $22,124,000 after purchasing an additional 71,437 shares in the last quarter. 93.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on TNC. Zacks Research upgraded shares of Tennant from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 26th. Wall Street Zen upgraded Tennant from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings raised Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Tennant has an average rating of “Moderate Buy” and an average target price of $91.00.

Tennant Stock Performance

Tennant stock opened at $87.87 on Monday. Tennant Company has a fifty-two week low of $60.17 and a fifty-two week high of $91.93. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.41 and a current ratio of 2.12. The stock has a market cap of $1.50 billion, a P/E ratio of 52.94, a price-to-earnings-growth ratio of 2.45 and a beta of 1.12. The firm’s fifty day moving average price is $86.42 and its 200-day moving average price is $79.09.

Tennant (NYSE:TNC) last announced its earnings results on Monday, May 4th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.18. The company had revenue of $297.90 million during the quarter, compared to analyst estimates of $289.25 million. Tennant had a net margin of 2.55% and a return on equity of 14.87%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 earnings per share. Tennant has set its FY 2026 guidance at 4.700-5.300 EPS. On average, equities research analysts expect that Tennant Company will post 5.12 earnings per share for the current fiscal year.

Tennant Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Friday, May 29th. Tennant’s dividend payout ratio is presently 74.70%.

Tennant declared that its Board of Directors has authorized a share buyback plan on Monday, May 4th that permits the company to buyback 2,000,000,000,000 outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 11.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Tennant 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.