SFE Investment Counsel Invests $1.07 Million in Tennant Company $TNC

SFE Investment Counsel purchased a new stake in shares of Tennant Company (NYSE:TNC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,175 shares of the industrial products company’s stock, valued at approximately $1,066,000. SFE Investment Counsel owned approximately 0.07% of Tennant as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of the company. Gamco Investors INC. ET AL increased its holdings in Tennant by 40.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 706,400 shares of the industrial products company’s stock worth $46,905,000 after purchasing an additional 203,802 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Tennant by 8.4% during the first quarter. Dimensional Fund Advisors LP now owns 634,158 shares of the industrial products company’s stock valued at $42,106,000 after buying an additional 49,136 shares during the period. Millennium Management LLC raised its holdings in shares of Tennant by 33.8% in the fourth quarter. Millennium Management LLC now owns 358,452 shares of the industrial products company’s stock valued at $26,418,000 after acquiring an additional 90,611 shares in the last quarter. Vision One Management Partners LP raised its holdings in shares of Tennant by 18.1% in the fourth quarter. Vision One Management Partners LP now owns 344,585 shares of the industrial products company’s stock valued at $25,396,000 after acquiring an additional 52,721 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Tennant by 27.3% in the first quarter. Bank of New York Mellon Corp now owns 333,187 shares of the industrial products company’s stock worth $22,124,000 after acquiring an additional 71,437 shares during the period. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Insider Activity at Tennant

In other Tennant news, Director Donal L. Mulligan purchased 8,000 shares of Tennant stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average cost of $67.34 per share, with a total value of $538,720.00. Following the completion of the transaction, the director owned 16,000 shares in the company, 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 can be accessed through the SEC website. Also, Director Timothy R. Morse acquired 1,500 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average price of $68.18 per share, with a total value of $102,270.00. Following the acquisition, the director owned 10,614 shares in the company, valued at approximately $723,662.52. The trade was a 16.46% increase in their position. The SEC filing for this purchase provides additional information. 3.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Tennant Price Performance

TNC opened at $68.57 on Friday. The firm has a market capitalization of $1.17 billion, a PE ratio of 67.23, a price-to-earnings-growth ratio of 2.55 and a beta of 1.13. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.04 and a quick ratio of 1.37. The business’s 50-day moving average is $84.69 and its two-hundred day moving average is $79.13. Tennant Company has a 1 year low of $60.17 and a 1 year high of $91.93.

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

Tennant declared that its Board of Directors has initiated a stock buyback plan on Monday, May 4th that allows the company to buyback 2,000,000,000,000 outstanding shares. This buyback authorization allows the industrial products company to purchase up to 11.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Tennant Announces Dividend

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

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.