Tennant (NYSE:TNC) Director Purchases 8,000 Shares of Stock

Tennant Company (NYSE:TNC) Director Donal Mulligan purchased 8,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was bought at an average price of $67.34 per share, for a total transaction of $538,720.00. Following the completion of the transaction, the director directly owned 16,000 shares of the company’s stock, valued at approximately $1,077,440. This trade represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Tennant Price Performance

Tennant stock traded down $1.33 during mid-day trading on Thursday, hitting $67.92. 305,086 shares of the company were exchanged, compared to its average volume of 222,539. The company has a market capitalization of $1.16 billion, a PE ratio of 66.58, a price-to-earnings-growth ratio of 2.46 and a beta of 1.13. The business has a fifty day moving average of $85.33 and a 200 day moving average of $79.27. Tennant Company has a 1-year low of $60.17 and a 1-year 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.

Tennant (NYSE:TNC) last issued its earnings results 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). Tennant had a net margin of 1.50% and a return on equity of 13.32%. The firm had revenue of $324.00 million during the quarter, compared to analyst estimates of $329.55 million. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.49 EPS. 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 3.85 earnings per share for the current year.

Tennant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, August 31st. Tennant’s dividend payout ratio is currently 121.57%.

Tennant announced that its Board of Directors has authorized a stock buyback program 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 purchase up to 11.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TNC shares. Wall Street Zen cut shares of Tennant from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research downgraded Tennant from a “strong-buy” rating to a “strong sell” rating in a research report on Monday. Finally, Weiss Ratings cut Tennant from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $91.00.

Institutional Investors Weigh In On Tennant

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of Tennant by 23.0% during the first quarter. Royal Bank of Canada now owns 4,563 shares of the industrial products company’s stock worth $364,000 after acquiring an additional 854 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Tennant by 68.8% in the first quarter. AQR Capital Management LLC now owns 49,724 shares of the industrial products company’s stock valued at $3,966,000 after acquiring an additional 20,275 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Tennant by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,271 shares of the industrial products company’s stock worth $899,000 after purchasing an additional 491 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Tennant by 17.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 56,214 shares of the industrial products company’s stock worth $4,483,000 after purchasing an additional 8,421 shares during the period. Finally, Jane Street Group LLC raised its holdings in Tennant by 39.1% during the 1st quarter. Jane Street Group LLC now owns 38,911 shares of the industrial products company’s stock worth $3,103,000 after purchasing an additional 10,946 shares during the last quarter. 93.33% of the stock is owned by institutional investors and hedge funds.

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.