Tennant (NYSE:TNC) Director Purchases $102,270.00 in Stock

Tennant Company (NYSE:TNC) Director Timothy Morse purchased 1,500 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were bought at an average cost of $68.18 per share, for a total transaction of $102,270.00. Following the purchase, the director owned 10,614 shares of the company’s stock, valued at $723,662.52. This trade represents a 16.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Tennant Trading Down 1.9%

Shares of TNC traded down $1.33 during mid-day trading on Thursday, reaching $67.92. The company had a trading volume of 305,090 shares, compared to its average volume of 222,539. Tennant Company has a fifty-two week low of $60.17 and a fifty-two week high of $91.93. The firm has a fifty day simple moving average of $85.33 and a 200-day simple moving average of $79.27. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 66.58, a price-to-earnings-growth ratio of 2.46 and a beta of 1.13. The company has a current ratio of 2.04, a quick ratio of 1.37 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 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.50). The firm had revenue of $324.00 million for the quarter, compared to analyst estimates of $329.55 million. Tennant had a return on equity of 13.32% and a net margin of 1.50%.The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.49 earnings per share. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. On average, sell-side analysts anticipate that Tennant Company will post 3.85 EPS for the current fiscal year.

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 given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, August 31st. Tennant’s payout ratio is 121.57%.

Tennant announced that its Board of Directors has approved a stock buyback program 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 repurchase up to 11.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hantz Financial Services Inc. grew its stake in shares of Tennant by 85.1% in the fourth quarter. Hantz Financial Services Inc. now owns 385 shares of the industrial products company’s stock valued at $28,000 after buying an additional 177 shares in the last quarter. UMB Bank n.a. lifted its position in Tennant by 1,778.6% during the 4th quarter. UMB Bank n.a. now owns 526 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 498 shares in the last quarter. State of Wyoming purchased a new position in Tennant in the 2nd quarter worth approximately $73,000. BNP Paribas Financial Markets boosted its holdings in Tennant by 25.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,936 shares of the industrial products company’s stock worth $150,000 after acquiring an additional 389 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Tennant by 40.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,492 shares of the industrial products company’s stock valued at $193,000 after acquiring an additional 722 shares in the last quarter. Institutional investors and hedge funds own 93.33% of the company’s stock.

Analyst Ratings Changes

TNC has been the topic of several research analyst reports. Weiss Ratings lowered Tennant from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday. Zacks Research cut shares of Tennant from a “strong-buy” rating to a “strong sell” rating in a research report on Monday. Finally, Wall Street Zen lowered 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 assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Tennant presently has a consensus rating of “Hold” and a consensus target price 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.