Tennant Company $TNC Shares Acquired by Peregrine Capital Management LLC

Peregrine Capital Management LLC raised its holdings in shares of Tennant Company (NYSE:TNC) by 15.9% in the third quarter, Holdings Channel.com reports. The firm owned 64,485 shares of the industrial products company’s stock after buying an additional 8,847 shares during the period. Peregrine Capital Management LLC’s holdings in Tennant were worth $5,227,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Tennant by 6.0% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,789 shares of the industrial products company’s stock valued at $371,000 after purchasing an additional 273 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Tennant by 1.9% during the second quarter. California State Teachers Retirement System now owns 16,650 shares of the industrial products company’s stock worth $1,290,000 after buying an additional 306 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in shares of Tennant in the third quarter worth $28,000. Police & Firemen s Retirement System of New Jersey raised its holdings in Tennant by 8.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,451 shares of the industrial products company’s stock valued at $345,000 after acquiring an additional 355 shares in the last quarter. Finally, CoreCap Advisors LLC bought a new position in Tennant during the 3rd quarter valued at $30,000. 93.33% of the stock is currently owned by hedge funds and other institutional investors.

Tennant Stock Up 1.2%

TNC stock opened at $78.39 on Friday. The stock has a market cap of $1.42 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05. The firm’s 50-day simple moving average is $74.27 and its 200 day simple moving average is $78.87. Tennant Company has a fifty-two week low of $67.32 and a fifty-two week high of $90.44. The company has a quick ratio of 1.39, a current ratio of 2.13 and a debt-to-equity ratio of 0.37.

Tennant (NYSE:TNC) last posted its earnings results on Monday, November 3rd. The industrial products company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.03). Tennant had a return on equity of 16.55% and a net margin of 4.42%.The firm had revenue of $303.30 million during the quarter, compared to the consensus estimate of $306.90 million. During the same quarter last year, the company posted $1.39 EPS. Tennant’s revenue for the quarter was down 4.0% on a year-over-year basis. Tennant has set its FY 2025 guidance at 5.700-6.200 EPS. As a group, sell-side analysts predict that Tennant Company will post 5.89 EPS for the current year.

Tennant Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were issued a $0.31 dividend. This is a positive change from Tennant’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, November 28th. This represents a $1.24 dividend on an annualized basis and a yield of 1.6%. Tennant’s dividend payout ratio is currently 42.47%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Tennant in a research report on Monday, December 29th. Roth Capital assumed coverage on Tennant in a research note on Friday, October 24th. They issued a “buy” rating and a $102.00 price target for the company. Finally, Wall Street Zen raised Tennant from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $102.00.

Tennant 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.