18,690 Shares in Tennant Company $TNC Acquired by Deutsche Bank AG

Deutsche Bank AG purchased a new stake in shares of Tennant Company (NYSE:TNC) during the second quarter, Holdings Channel.com reports. The firm purchased 18,690 shares of the industrial products company’s stock, valued at approximately $1,636,000.

Several other large investors have also recently made changes to their positions in TNC. Comerica Bank boosted its position in shares of Tennant by 106.5% in the 4th quarter. Comerica Bank now owns 25,379 shares of the industrial products company’s stock valued at $1,870,000 after purchasing an additional 13,089 shares during the period. Gabelli Funds LLC increased its position in Tennant by 11.6% during the first quarter. Gabelli Funds LLC now owns 199,700 shares of the industrial products company’s stock worth $13,260,000 after buying an additional 20,808 shares during the period. Needham Investment Management LLC lifted its stake in Tennant by 107.7% in the fourth quarter. Needham Investment Management LLC now owns 67,500 shares of the industrial products company’s stock valued at $4,975,000 after buying an additional 35,000 shares during the last quarter. River Road Asset Management LLC lifted its stake in Tennant by 9.9% in the fourth quarter. River Road Asset Management LLC now owns 265,530 shares of the industrial products company’s stock valued at $19,570,000 after buying an additional 23,823 shares during the last quarter. Finally, Deprince Race & Zollo Inc. boosted its holdings in shares of Tennant by 16.9% in the first quarter. Deprince Race & Zollo Inc. now owns 183,084 shares of the industrial products company’s stock valued at $12,157,000 after acquiring an additional 26,410 shares during the period. 93.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Weiss Ratings upgraded shares of Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Zacks Research downgraded shares of Tennant from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, August 10th. Finally, Wall Street Zen lowered shares of Tennant from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $91.00.

Tennant Trading Up 0.2%

NYSE:TNC opened at $70.12 on Friday. Tennant Company has a 12-month low of $60.17 and a 12-month high of $91.93. The company has a current ratio of 2.04, a quick ratio of 1.37 and a debt-to-equity ratio of 0.67. The stock’s 50 day simple moving average is $80.98 and its 200-day simple moving average is $78.48. The firm has a market cap of $1.20 billion, a P/E ratio of 68.75, a PEG ratio of 2.60 and a beta of 1.13.

Tennant (NYSE:TNC) last issued its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.50). The company had revenue of $324.00 million for the quarter, compared to analyst estimates of $329.55 million. Tennant had a return on equity of 13.32% and a net margin of 1.50%.Tennant’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.49 earnings per share. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. Equities analysts anticipate that Tennant Company will post 3.85 EPS for the current year.

Tennant Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, August 31st. Tennant’s payout ratio is 121.57%.

Tennant declared that its board has initiated a stock buyback program on Monday, May 4th that allows the company to repurchase 2,000,000,000,000 shares. This repurchase authorization allows the industrial products company to buy 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.

Insider Activity

In other news, Director Donal L. Mulligan purchased 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average cost of $67.34 per share, with a total value of $538,720.00. Following the completion of the acquisition, the director directly owned 16,000 shares of the company’s stock, valued at approximately $1,077,440. This trade represents a 100.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Timothy R. Morse acquired 1,500 shares of Tennant stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average price of $68.18 per share, with a total value of $102,270.00. Following the transaction, the director owned 10,614 shares of the company’s stock, valued at $723,662.52. This trade represents a 16.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 3.50% 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.