13,646 Shares in Tennant Company $TNC Purchased by QSV Equity Investors LLC

QSV Equity Investors LLC bought a new stake in shares of Tennant Company (NYSE:TNC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,646 shares of the industrial products company’s stock, valued at approximately $1,057,000.

Other hedge funds have also recently modified their holdings of the company. Banque Transatlantique SA purchased a new stake in shares of Tennant in the first quarter worth approximately $59,000. Alta Fox Capital Management LLC bought a new position in Tennant in the 1st quarter valued at $73,000. AlphaQuest LLC increased its stake in Tennant by 108,150.0% in the second quarter. AlphaQuest LLC now owns 2,165 shares of the industrial products company’s stock worth $168,000 after purchasing an additional 2,163 shares during the period. Savant Capital LLC bought a new stake in shares of Tennant during the second quarter worth $228,000. Finally, Semanteon Capital Management LP purchased a new stake in shares of Tennant during the second quarter valued at $248,000. Institutional investors own 93.33% of the company’s stock.

Tennant Price Performance

Shares of TNC opened at $73.80 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.13. The company has a 50 day moving average price of $77.17 and a 200-day moving average price of $78.76. Tennant Company has a fifty-two week low of $67.32 and a fifty-two week high of $90.44. The stock has a market capitalization of $1.34 billion, a PE ratio of 25.28, a PEG ratio of 1.58 and a beta of 1.06.

Tennant (NYSE:TNC) last issued its quarterly earnings data on Monday, November 3rd. The industrial products company reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.03). The business had revenue of $303.30 million during the quarter, compared to the consensus estimate of $306.90 million. Tennant had a return on equity of 16.55% and a net margin of 4.42%.The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period last year, the firm earned $1.39 EPS. Tennant has set its FY 2025 guidance at 5.700-6.200 EPS. Equities analysts predict that Tennant Company will post 5.89 earnings per share for the current fiscal year.

Tennant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a dividend of $0.31 per share. This is an increase from Tennant’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, November 28th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.7%. Tennant’s dividend payout ratio (DPR) is currently 42.47%.

Analyst Upgrades and Downgrades

Several research firms recently commented on TNC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tennant in a research note on Monday. Zacks Research raised shares of Tennant to a “hold” rating in a research report on Tuesday, August 12th. Wall Street Zen upgraded Tennant from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Finally, Roth Capital started coverage on Tennant in a research note on Friday, October 24th. They issued a “buy” rating and a $102.00 price objective on the stock. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Tennant presently has a consensus rating of “Moderate Buy” and an average price target of $113.50.

About Tennant

Tennant Company, together with its subsidiaries, designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers a suite of products, including floor maintenance and cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, and asset management solutions.