Timothy Morse Acquires 1,500 Shares of Tennant (NYSE:TNC) Stock

Tennant Company (NYSE:TNC) Director Timothy Morse purchased 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average cost of $68.18 per share, with a total value of $102,270.00. Following the completion of the purchase, the director owned 10,614 shares of the company’s stock, valued at $723,662.52. The trade was a 16.46% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Tennant Stock Performance

NYSE TNC opened at $68.57 on Friday. The stock has a market capitalization of $1.17 billion, a PE ratio of 67.23, a P/E/G ratio of 2.51 and a beta of 1.13. The business has a 50 day simple moving average of $84.69 and a two-hundred day simple moving average of $79.13. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.04 and a quick ratio of 1.37. Tennant Company has a 1-year low of $60.17 and a 1-year high of $91.93.

Tennant (NYSE:TNC) last released 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 firm had revenue of $324.00 million during the quarter, compared to the consensus estimate of $329.55 million. Tennant had a return on equity of 13.32% and a net margin of 1.50%.The business’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.49 EPS. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. On average, research analysts predict that Tennant Company will post 3.85 EPS for the current fiscal year.

Tennant Announces Dividend

The firm 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 $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, August 31st. Tennant’s payout ratio is currently 121.57%.

Tennant announced that its Board of Directors has authorized a stock repurchase program on Monday, May 4th that allows the company to repurchase 2,000,000,000,000 outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 11.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have commented on TNC. Wall Street Zen lowered shares of Tennant from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings downgraded shares of Tennant from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. Finally, Zacks Research cut shares of Tennant from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, August 10th. One investment 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. Based on data from MarketBeat.com, Tennant has an average rating of “Hold” and a consensus price target of $91.00.

Institutional Trading of Tennant

Several hedge funds and other institutional investors have recently bought and sold shares of TNC. Hantz Financial Services Inc. lifted its position in Tennant by 85.1% in 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 last quarter. UMB Bank n.a. increased its position in Tennant by 1,778.6% during the fourth quarter. UMB Bank n.a. now owns 526 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 498 shares during the last quarter. State of Wyoming bought a new position in Tennant during the second quarter valued at $73,000. BNP Paribas Financial Markets raised its stake in shares of Tennant by 25.1% in the second quarter. BNP Paribas Financial Markets now owns 1,936 shares of the industrial products company’s stock valued at $150,000 after acquiring an additional 389 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of Tennant by 40.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,492 shares of the industrial products company’s stock valued at $193,000 after acquiring an additional 722 shares during the period. Hedge funds and other institutional investors own 93.33% of the company’s stock.

About Tennant

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.