Tennant Company $TNC Shares Sold by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC reduced its position in shares of Tennant Company (NYSE:TNC) by 12.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,762 shares of the industrial products company’s stock after selling 7,250 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Tennant were worth $3,667,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TNC. Royal Bank of Canada lifted its position in shares of Tennant by 23.0% during the first quarter. Royal Bank of Canada now owns 4,563 shares of the industrial products company’s stock worth $364,000 after purchasing an additional 854 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Tennant by 68.8% during the first quarter. AQR Capital Management LLC now owns 49,724 shares of the industrial products company’s stock worth $3,966,000 after purchasing an additional 20,275 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Tennant by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,271 shares of the industrial products company’s stock worth $899,000 after purchasing an additional 491 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Tennant by 17.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 56,214 shares of the industrial products company’s stock worth $4,483,000 after purchasing an additional 8,421 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Tennant by 39.1% during the first quarter. Jane Street Group LLC now owns 38,911 shares of the industrial products company’s stock worth $3,103,000 after purchasing an additional 10,946 shares in the last quarter. 93.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on TNC. Wall Street Zen raised shares of Tennant from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Freedom Capital cut shares of Tennant from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Roth Mkm reissued a “buy” rating and set a $91.00 target price (down from $107.00) on shares of Tennant in a research report on Wednesday, February 25th. Zacks Research raised shares of Tennant from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings raised shares of Tennant from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. One research 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, Tennant currently has a consensus rating of “Moderate Buy” and an average price target of $91.00.

Tennant Trading Down 0.7%

TNC opened at $86.02 on Thursday. The stock has a market capitalization of $1.47 billion, a PE ratio of 51.82, a P/E/G ratio of 2.42 and a beta of 1.12. The firm’s fifty day moving average price is $81.08 and its 200 day moving average price is $76.19. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.12 and a quick ratio of 1.41. Tennant Company has a 12-month low of $60.17 and a 12-month high of $88.86.

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

Tennant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.24 annualized dividend and a yield of 1.4%. Tennant’s dividend payout ratio is currently 74.70%.

Tennant announced that its Board of Directors has authorized a share buyback 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 repurchase up to 11.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

About Tennant

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.