Tennant Company $TNC Shares Acquired by Value Holdings Management CO. LLC

Value Holdings Management CO. LLC boosted its stake in Tennant Company (NYSE:TNC) by 119.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 36,700 shares of the industrial products company’s stock after purchasing an additional 20,000 shares during the period. Value Holdings Management CO. LLC’s holdings in Tennant were worth $2,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Tennant in the 1st quarter worth about $763,000. State of Alaska Department of Revenue boosted its position in Tennant by 6.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 11,098 shares of the industrial products company’s stock worth $859,000 after acquiring an additional 640 shares during the period. American Century Companies Inc. increased its holdings in shares of Tennant by 44.3% during the first quarter. American Century Companies Inc. now owns 222,821 shares of the industrial products company’s stock valued at $17,770,000 after purchasing an additional 68,453 shares during the period. Victory Capital Management Inc. raised its stake in shares of Tennant by 28.2% during the first quarter. Victory Capital Management Inc. now owns 27,837 shares of the industrial products company’s stock valued at $2,220,000 after purchasing an additional 6,117 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Tennant by 24.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,787 shares of the industrial products company’s stock valued at $392,000 after buying an additional 938 shares in the last quarter. Institutional investors and hedge funds own 93.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Tennant in a research report on Tuesday. Zacks Research upgraded shares of Tennant to a “hold” rating in a research report on Tuesday, August 12th. Roth Capital began coverage on Tennant in a report on Friday, October 24th. They issued a “buy” rating and a $102.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Tennant from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $113.50.

Tennant Trading Down 2.1%

NYSE:TNC opened at $72.03 on Friday. The company has a market capitalization of $1.31 billion, a P/E ratio of 22.44, a P/E/G ratio of 1.74 and a beta of 1.07. The stock’s 50 day moving average price is $79.66 and its 200 day moving average price is $78.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.38 and a current ratio of 2.09. Tennant Company has a 52 week low of $67.32 and a 52 week high of $93.03.

Tennant (NYSE:TNC) last announced its quarterly earnings results on Monday, November 3rd. The industrial products company reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.03). Tennant had a return on equity of 16.41% and a net margin of 4.84%.The company had revenue of $303.30 million during the quarter, compared to analyst estimates of $306.90 million. During the same period in the prior year, the firm earned $1.39 EPS. Tennant’s quarterly revenue was down 4.0% on a year-over-year basis. Tennant has set its FY 2025 guidance at 5.700-6.200 EPS. On average, research analysts forecast that Tennant Company will post 5.89 EPS for the current fiscal year.

Tennant Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, November 28th. This is a positive change from Tennant’s previous quarterly dividend of $0.30. Tennant’s payout ratio is currently 42.47%.

About Tennant

Tennant Company, together with its subsidiaries, designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers a suite of products, including floor maintenance and cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, and asset management solutions.