Vanguard Group Inc. Trims Stake in Tennant Company $TNC

Vanguard Group Inc. cut its holdings in shares of Tennant Company (NYSE:TNC) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,150,347 shares of the industrial products company’s stock after selling 21,844 shares during the quarter. Vanguard Group Inc. owned 0.12% of Tennant worth $158,481,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TNC. Teacher Retirement System of Texas raised its stake in shares of Tennant by 27.4% in the 4th quarter. Teacher Retirement System of Texas now owns 75,114 shares of the industrial products company’s stock valued at $5,536,000 after acquiring an additional 16,142 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Tennant by 86.5% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 24,800 shares of the industrial products company’s stock valued at $1,835,000 after purchasing an additional 11,500 shares during the period. Evergreen Capital Management LLC purchased a new position in Tennant in the 4th quarter valued at approximately $301,000. Lightrock Netherlands B.V. boosted its holdings in Tennant by 7.2% in the fourth quarter. Lightrock Netherlands B.V. now owns 148,526 shares of the industrial products company’s stock valued at $10,946,000 after purchasing an additional 10,000 shares during the period. Finally, Deprince Race & Zollo Inc. increased its holdings in Tennant by 15.9% in the fourth quarter. Deprince Race & Zollo Inc. now owns 156,674 shares of the industrial products company’s stock valued at $11,547,000 after buying an additional 21,459 shares during the last quarter. 93.33% of the stock is owned by institutional investors and hedge funds.

Tennant Stock Down 0.9%

Shares of Tennant stock opened at $86.30 on Tuesday. Tennant Company has a one year low of $60.17 and a one year high of $88.86. The company has a market cap of $1.47 billion, a P/E ratio of 51.98, a PEG ratio of 2.43 and a beta of 1.12. 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 firm has a fifty day moving average of $72.17 and a two-hundred day moving average of $74.90.

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

Tennant declared that its Board of Directors has initiated a share buyback plan on Monday, May 4th that authorizes the company to repurchase 2,000,000,000,000 shares. This repurchase authorization authorizes the industrial products company to reacquire up to 11.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Tennant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, May 29th. This represents a $1.24 annualized dividend and a yield of 1.4%. Tennant’s payout ratio is presently 74.70%.

Insider Buying and Selling at Tennant

In other Tennant news, CEO David W. Huml purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were purchased at an average cost of $64.39 per share, for a total transaction of $257,560.00. Following the completion of the purchase, the chief executive officer directly owned 67,958 shares in the company, valued at $4,375,815.62. This represents a 6.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Windley sold 3,694 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $63.86, for a total value of $235,898.84. Following the transaction, the director directly owned 7,422 shares in the company, valued at $473,968.92. This represents a 33.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders bought 20,163 shares of company stock worth $1,261,674. 3.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TNC. Freedom Capital lowered Tennant from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Wall Street Zen upgraded shares of Tennant from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research raised shares of Tennant from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings upgraded shares of Tennant from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, April 24th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $91.00 target price (down from $107.00) on shares of Tennant in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $91.00.

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.