WINTON GROUP Ltd Raises Position in Tennant Company $TNC

WINTON GROUP Ltd boosted its holdings in shares of Tennant Company (NYSE:TNC) by 181.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,389 shares of the industrial products company’s stock after buying an additional 26,697 shares during the period. WINTON GROUP Ltd owned approximately 0.24% of Tennant worth $3,623,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Tennant in the 2nd quarter valued at about $236,255,000. California State Teachers Retirement System grew its holdings in shares of Tennant by 10,181.4% during the second quarter. California State Teachers Retirement System now owns 1,692,323 shares of the industrial products company’s stock worth $148,146,000 after purchasing an additional 1,675,863 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Tennant during the second quarter worth about $28,562,000. Gamco Investors INC. ET AL increased its position in shares of Tennant by 40.5% in the first quarter. Gamco Investors INC. ET AL now owns 706,400 shares of the industrial products company’s stock worth $46,905,000 after purchasing an additional 203,802 shares during the last quarter. Finally, Vision One Management Partners LP increased its position in shares of Tennant by 63.1% in the third quarter. Vision One Management Partners LP now owns 291,864 shares of the industrial products company’s stock worth $23,212,000 after purchasing an additional 112,873 shares during the last quarter. 93.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tennant

In related news, Director Timothy Morse purchased 1,500 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were acquired at an average cost of $68.18 per share, with a total value of $102,270.00. Following the purchase, the director directly owned 10,614 shares of the company’s stock, valued at approximately $723,662.52. This trade represents a 16.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Donal Mulligan acquired 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, with a total value of $538,720.00. Following the transaction, the director directly owned 16,000 shares of the company’s stock, valued at approximately $1,077,440. The trade was a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.50% of the stock is owned by company insiders.

Tennant Stock Performance

Tennant stock opened at $69.04 on Friday. The firm has a fifty day simple moving average of $77.75 and a two-hundred day simple moving average of $77.70. 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 Company has a twelve month low of $60.17 and a twelve month high of $91.93. The company has a market capitalization of $1.18 billion, a PE ratio of 67.68, a P/E/G ratio of 2.64 and a beta of 1.11.

Tennant (NYSE:TNC) last announced its quarterly earnings data 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). The company had revenue of $324.00 million for the quarter, compared to the consensus estimate of $329.55 million. Tennant had a net margin of 1.50% and a return on equity of 13.32%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business posted $1.49 earnings per share. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. Research analysts expect that Tennant Company will post 3.85 EPS for the current year.

Tennant Announces Dividend

The business also recently declared 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. This represents a $1.24 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, August 31st. Tennant’s dividend payout ratio (DPR) is presently 121.57%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TNC. Zacks Research downgraded shares of Tennant from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, August 10th. Wall Street Zen cut shares of Tennant from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings raised shares of Tennant from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Tennant has a consensus rating of “Hold” and an average target price of $91.00.

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.