Gamco Investors INC. ET AL Acquires 203,802 Shares of Tennant Company $TNC

Gamco Investors INC. ET AL grew its holdings in Tennant Company (NYSE:TNC) by 40.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 706,400 shares of the industrial products company’s stock after purchasing an additional 203,802 shares during the period. Gamco Investors INC. ET AL owned about 4.15% of Tennant worth $46,905,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Aristides Capital LLC boosted its holdings in Tennant by 12.9% during the first quarter. Aristides Capital LLC now owns 3,079 shares of the industrial products company’s stock worth $204,000 after purchasing an additional 352 shares during the last quarter. Inceptionr LLC acquired a new stake in Tennant in the 1st quarter valued at $456,000. Sei Investments Co. increased its stake in Tennant by 67.4% in the 1st quarter. Sei Investments Co. now owns 96,879 shares of the industrial products company’s stock valued at $6,433,000 after buying an additional 38,996 shares during the last quarter. First Trust Advisors LP increased its stake in Tennant by 60.9% in the 1st quarter. First Trust Advisors LP now owns 31,570 shares of the industrial products company’s stock valued at $2,096,000 after buying an additional 11,952 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Tennant by 8.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 634,158 shares of the industrial products company’s stock worth $42,106,000 after buying an additional 49,136 shares in the last quarter. Institutional investors own 93.33% of the company’s stock.

Analyst Ratings Changes

TNC has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Tennant from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings raised Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Finally, Zacks Research upgraded Tennant from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

Tennant Price Performance

NYSE:TNC opened at $87.87 on Friday. Tennant Company has a 1-year low of $60.17 and a 1-year high of $91.93. The company has a current ratio of 2.12, a quick ratio of 1.41 and a debt-to-equity ratio of 0.67. The firm has a fifty day simple moving average of $86.42 and a 200 day simple moving average of $79.07. The stock has a market capitalization of $1.50 billion, a PE ratio of 52.94, a P/E/G ratio of 2.42 and a beta of 1.12.

Tennant (NYSE:TNC) last issued its earnings results on Monday, May 4th. The industrial products company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.18. The business had revenue of $297.90 million for the quarter, compared to the consensus estimate of $289.25 million. Tennant had a net margin of 2.55% and a return on equity of 14.87%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.12 earnings per share. Tennant has set its FY 2026 guidance at 4.700-5.300 EPS. On average, research analysts expect that Tennant Company will post 5.12 EPS for the current fiscal year.

Tennant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, May 29th. Tennant’s dividend payout ratio is presently 74.70%.

Tennant declared that its Board of Directors has authorized a share repurchase program 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 reacquire up to 11.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.