The Manufacturers Life Insurance Company Acquires New Position in Tennant Company $TNC

The Manufacturers Life Insurance Company acquired a new stake in Tennant Company (NYSE:TNC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,063 shares of the industrial products company’s stock, valued at approximately $618,000.

A number of other institutional investors have also bought and sold shares of TNC. Hantz Financial Services Inc. grew its position 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 purchasing an additional 177 shares in the last quarter. UMB Bank n.a. lifted its position in Tennant by 1,778.6% during the fourth quarter. UMB Bank n.a. now owns 526 shares of the industrial products company’s stock worth $39,000 after buying an additional 498 shares in the last quarter. State of Wyoming purchased a new position in Tennant during the second quarter worth approximately $73,000. BNP Paribas Financial Markets boosted its stake in Tennant by 25.1% during the second quarter. BNP Paribas Financial Markets now owns 1,936 shares of the industrial products company’s stock worth $150,000 after buying an additional 389 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Tennant by 40.8% during the second quarter. Tower Research Capital LLC TRC now owns 2,492 shares of the industrial products company’s stock worth $193,000 after buying an additional 722 shares during the last quarter. 93.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Donal L. Mulligan purchased 8,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were bought at an average cost of $67.34 per share, for a total transaction of $538,720.00. Following the completion of the purchase, the director directly owned 16,000 shares of the company’s stock, valued at approximately $1,077,440. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy R. Morse purchased 1,500 shares of the stock in a transaction dated Wednesday, August 12th. The shares were purchased at an average price of $68.18 per share, with a total value of $102,270.00. Following the completion of the transaction, the director owned 10,614 shares of the company’s stock, valued at approximately $723,662.52. This trade represents a 16.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TNC. Weiss Ratings raised Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. 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 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $91.00.

Tennant Stock Performance

Shares of Tennant stock opened at $71.74 on Monday. Tennant Company has a 52 week low of $60.17 and a 52 week high of $91.93. The business’s fifty day simple moving average is $79.01 and its 200-day simple moving average is $78.04. The firm has a market cap of $1.22 billion, a PE ratio of 70.33, a price-to-earnings-growth ratio of 2.67 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.

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

Tennant Dividend Announcement

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

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.