Insider Buying: Tennant (NYSE:TNC) Director Acquires $538,720.00 in Stock

Tennant Company (NYSE:TNC) Director Donal Mulligan purchased 8,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were purchased at an average cost of $67.34 per share, with a total value of $538,720.00. Following the purchase, the director owned 16,000 shares of the company’s stock, valued at approximately $1,077,440. The trade was a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Tennant Stock Performance

NYSE:TNC opened at $68.57 on Friday. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 67.23, a PEG ratio of 2.55 and a beta of 1.13. The business has a 50 day moving average of $84.69 and a 200 day 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 issued its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.50). Tennant had a net margin of 1.50% and a return on equity of 13.32%. The business had revenue of $324.00 million for the quarter, compared to the consensus estimate of $329.55 million. During the same quarter in the previous year, the business earned $1.49 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. On average, sell-side analysts predict that Tennant Company will post 3.85 earnings per share for the current fiscal year.

Tennant Announces Dividend

The business also recently disclosed 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 of this dividend is Monday, August 31st. Tennant’s dividend payout ratio (DPR) is 121.57%.

Tennant declared that its board has approved a stock buyback program on Monday, May 4th that authorizes the company to repurchase 2,000,000,000,000 outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 11.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TNC. Comerica Bank boosted its stake in Tennant by 1.2% during the third quarter. Comerica Bank now owns 12,290 shares of the industrial products company’s stock worth $996,000 after acquiring an additional 144 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Tennant by 2.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,115 shares of the industrial products company’s stock valued at $451,000 after buying an additional 148 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings 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 acquiring an additional 177 shares in the last quarter. Swiss National Bank boosted its holdings in Tennant by 0.6% in the third quarter. Swiss National Bank now owns 34,300 shares of the industrial products company’s stock worth $2,780,000 after acquiring an additional 200 shares in the last quarter. Finally, State of Tennessee Department of Treasury grew its stake in shares of Tennant by 3.9% in the fourth quarter. State of Tennessee Department of Treasury now owns 6,559 shares of the industrial products company’s stock worth $499,000 after acquiring an additional 247 shares during the last quarter. 93.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TNC has been the topic of several recent analyst reports. Zacks Research cut shares of Tennant from a “strong-buy” rating to a “strong sell” rating in a report on Monday, August 10th. Weiss Ratings lowered shares of Tennant from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. Finally, Wall Street Zen downgraded shares of Tennant from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $91.00.

Tennant Company 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.