Needham Investment Management LLC Grows Position in Tennant Company $TNC

Needham Investment Management LLC boosted its stake in Tennant Company (NYSE:TNC) by 107.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,500 shares of the industrial products company’s stock after buying an additional 35,000 shares during the period. Needham Investment Management LLC owned approximately 0.37% of Tennant worth $4,975,000 at the end of the most recent quarter.

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

Tennant Trading Down 0.3%

Shares of TNC stock opened at $86.60 on Tuesday. Tennant Company has a twelve month low of $60.17 and a twelve month high of $88.86. The company has a current ratio of 2.12, a quick ratio of 1.41 and a debt-to-equity ratio of 0.67. The business’s 50 day moving average is $82.20 and its two-hundred day moving average is $76.50. The company has a market capitalization of $1.48 billion, a P/E ratio of 52.17, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12.

Tennant (NYSE:TNC) last announced its quarterly earnings data 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 company 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%. Tennant’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.12 EPS. Tennant has set its FY 2026 guidance at 4.700-5.300 EPS. Equities analysts forecast that Tennant Company will post 5.12 EPS for the current year.

Tennant declared that its board has initiated a stock buyback program on Monday, May 4th that allows the company to repurchase 2,000,000,000,000 shares. This repurchase authorization allows the industrial products company to buy up to 11.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Tennant Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, May 29th. Tennant’s dividend payout ratio is 74.70%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Tennant from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Roth Mkm restated a “buy” rating and issued a $91.00 price objective (down from $107.00) on shares of Tennant in a research note on Wednesday, February 25th. Zacks Research upgraded Tennant from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 26th. Freedom Capital cut Tennant from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings raised Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.00.

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.