Louisiana State Employees Retirement System Takes Position in Tennant Company $TNC

Louisiana State Employees Retirement System purchased a new position in shares of Tennant Company (NYSE:TNC) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,000 shares of the industrial products company’s stock, valued at approximately $531,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Comerica Bank grew its holdings in Tennant by 106.5% during the 4th quarter. Comerica Bank now owns 25,379 shares of the industrial products company’s stock worth $1,870,000 after acquiring an additional 13,089 shares during the last quarter. Deprince Race & Zollo Inc. lifted its holdings in shares of Tennant by 15.9% during the fourth quarter. Deprince Race & Zollo Inc. now owns 156,674 shares of the industrial products company’s stock worth $11,547,000 after purchasing an additional 21,459 shares during the period. Kopion Asset Management LLC grew its stake in shares of Tennant by 40.6% in the fourth quarter. Kopion Asset Management LLC now owns 123,037 shares of the industrial products company’s stock worth $9,068,000 after purchasing an additional 35,531 shares during the last quarter. Lightrock Netherlands B.V. increased its holdings in Tennant by 7.2% in the fourth quarter. Lightrock Netherlands B.V. now owns 148,526 shares of the industrial products company’s stock valued at $10,946,000 after purchasing an additional 10,000 shares during the period. Finally, Teacher Retirement System of Texas raised its position in Tennant by 27.4% during the 4th quarter. Teacher Retirement System of Texas now owns 75,114 shares of the industrial products company’s stock worth $5,536,000 after purchasing an additional 16,142 shares during the last quarter. Institutional investors and hedge funds own 93.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TNC. Zacks Research raised shares of Tennant from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 26th. Weiss Ratings raised shares of Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Finally, Wall Street Zen upgraded Tennant from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.00.

Tennant Stock Performance

Shares of TNC stock opened at $86.70 on Wednesday. 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 firm has a fifty day simple moving average of $85.76 and a two-hundred day simple moving average of $78.05. Tennant Company has a 12 month low of $60.17 and a 12 month high of $91.93. The firm has a market capitalization of $1.48 billion, a PE ratio of 52.23, a price-to-earnings-growth ratio of 2.47 and a beta of 1.12.

Tennant (NYSE:TNC) last issued its quarterly earnings data on Monday, May 4th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.18. The firm had revenue of $297.90 million during 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 business’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the company earned $1.12 earnings per share. Tennant has set its FY 2026 guidance at 4.700-5.300 EPS. Analysts forecast that Tennant Company will post 5.12 EPS for the current fiscal year.

Tennant Dividend Announcement

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

Tennant declared that its Board of Directors has initiated a stock buyback plan on Monday, May 4th that authorizes the company to buyback 2,000,000,000,000 outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 11.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership 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.