Tennant (NYSE:TNC) Director Purchases $208,260.00 in Stock

Tennant Company (NYSE:TNC) Director Patrick Allen purchased 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were acquired at an average cost of $69.42 per share, with a total value of $208,260.00. Following the completion of the purchase, the director owned 4,927 shares of the company’s stock, valued at $342,032.34. The trade was a 155.68% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Tennant Trading Down 0.7%

TNC stock traded down $0.45 during midday trading on Wednesday, reaching $66.28. The company’s stock had a trading volume of 147,403 shares, compared to its average volume of 220,566. Tennant Company has a 52 week low of $60.17 and a 52 week high of $91.93. The stock has a market cap of $1.13 billion, a PE ratio of 64.98, a price-to-earnings-growth ratio of 2.45 and a beta of 1.11. The company has a quick ratio of 1.37, a current ratio of 2.04 and a debt-to-equity ratio of 0.67. The business’s 50-day simple moving average is $74.79 and its 200-day simple moving average is $77.87.

Tennant (NYSE:TNC) last issued its 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). The business had revenue of $324.00 million for the quarter, compared to the consensus estimate of $329.55 million. Tennant had a net margin of 1.50% and a return on equity of 13.32%. The business’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.49 EPS. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. As a group, sell-side analysts expect that Tennant Company will post 3.85 EPS for the current year.

Tennant Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, August 31st. Tennant’s dividend payout ratio is currently 121.57%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gabelli Funds LLC grew its position in shares of Tennant by 11.6% in the 1st quarter. Gabelli Funds LLC now owns 199,700 shares of the industrial products company’s stock valued at $13,260,000 after purchasing an additional 20,808 shares during the period. BlackRock Inc. acquired a new stake in Tennant during the 2nd quarter worth approximately $236,255,000. Gamco Investors INC. ET AL lifted its stake in Tennant by 40.5% in the first quarter. Gamco Investors INC. ET AL now owns 706,400 shares of the industrial products company’s stock valued at $46,905,000 after buying an additional 203,802 shares in the last quarter. River Road Asset Management LLC boosted its holdings in shares of 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 period. Finally, Deprince Race & Zollo Inc. increased its position in shares of Tennant by 16.9% during the first quarter. Deprince Race & Zollo Inc. now owns 183,084 shares of the industrial products company’s stock worth $12,157,000 after acquiring an additional 26,410 shares in the last quarter. 93.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Zacks Research cut Tennant from a “strong-buy” rating to a “strong sell” rating in a report on Monday, August 10th. Weiss Ratings cut Tennant from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, September 11th. Finally, Wall Street Zen downgraded shares of Tennant from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Tennant has an average rating of “Hold” and a consensus price target of $91.00.

About Tennant

Tennant Company is a manufacturer of cleaning equipment and related solutions for commercial, industrial and institutional customers. Its product portfolio includes industrial floor scrubbers, sweepers, outdoor cleaning equipment, and compact machines designed for a range of facility sizes and cleaning requirements.

The company also provides autonomous cleaning machines, cleaning chemicals, replacement parts, service and maintenance programs, and technology-enabled solutions intended to improve cleaning productivity and facility operations.