First Trust Advisors LP Has $2.10 Million Holdings in Tennant Company $TNC

First Trust Advisors LP raised its position in shares of Tennant Company (NYSE:TNC) by 60.9% in the first quarter, HoldingsChannel.com reports. The firm owned 31,570 shares of the industrial products company’s stock after purchasing an additional 11,952 shares during the quarter. First Trust Advisors LP’s holdings in Tennant were worth $2,096,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vision One Management Partners LP boosted its stake in shares of Tennant by 63.1% in the 3rd quarter. Vision One Management Partners LP now owns 291,864 shares of the industrial products company’s stock valued at $23,212,000 after purchasing an additional 112,873 shares during the last quarter. Millennium Management LLC raised its stake in Tennant by 33.8% during the fourth quarter. Millennium Management LLC now owns 358,452 shares of the industrial products company’s stock worth $26,418,000 after buying an additional 90,611 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Tennant by 27.3% during 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 buying an additional 71,437 shares during the last quarter. Jane Street Group LLC lifted its holdings in Tennant by 158.4% in the fourth quarter. Jane Street Group LLC now owns 94,461 shares of the industrial products company’s stock valued at $6,962,000 after buying an additional 57,907 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Tennant by 8.4% in 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. Institutional investors own 93.33% of the company’s stock.

Tennant Trading Down 4.1%

TNC opened at $73.77 on Friday. The company has a fifty day moving average price of $86.35 and a two-hundred day moving average price of $79.50. Tennant Company has a 1-year low of $60.17 and a 1-year high of $91.93. The company has a market cap of $1.26 billion, a P/E ratio of 72.32, a price-to-earnings-growth ratio of 2.56 and a beta of 1.13. The company has a current ratio of 2.04, a quick ratio of 1.41 and a debt-to-equity ratio of 0.67.

Tennant (NYSE:TNC) last released its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.50). The company had revenue of $324.00 million for the quarter, compared to the consensus estimate 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 last year, the company earned $1.49 EPS. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. Analysts predict that Tennant Company will post 4.13 EPS for the current fiscal year.

Tennant announced that its board has approved a stock buyback plan on Monday, May 4th that permits the company to buyback 2,000,000,000,000 shares. This buyback authorization permits the industrial products company to buy up to 11.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Tennant Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a $0.31 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.24 annualized dividend and a yield of 1.7%. Tennant’s dividend payout ratio is presently 121.57%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TNC shares. Weiss Ratings raised Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Zacks Research upgraded Tennant from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 26th. Finally, Wall Street Zen cut Tennant from a “buy” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.