Tennant (NYSE:TNC) Director Donal Mulligan Buys 8,000 Shares

Tennant Company (NYSE:TNC) Director Donal Mulligan acquired 8,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was acquired at an average cost of $67.34 per share, with a total value of $538,720.00. Following the completion of the purchase, the director directly owned 16,000 shares in the company, valued at approximately $1,077,440. This represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Tennant Trading Down 1.9%

Shares of NYSE TNC opened at $67.92 on Friday. The business’s 50 day moving average is $85.00 and its two-hundred day moving average is $79.21. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.04 and a quick ratio of 1.37. Tennant Company has a 1-year low of $60.17 and a 1-year high of $91.93. The stock has a market capitalization of $1.16 billion, a P/E ratio of 66.58, a PEG ratio of 2.57 and a beta of 1.13.

Tennant (NYSE:TNC) last posted its quarterly earnings data 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 firm had revenue of $324.00 million during 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 period last year, the company earned $1.49 earnings per share. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. As a group, research analysts expect that Tennant Company will post 3.85 EPS 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 given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, August 31st. Tennant’s payout ratio is presently 121.57%.

Tennant declared that its board has initiated a stock repurchase plan on Monday, May 4th that authorizes the company to repurchase 2,000,000,000,000 outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 11.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Weiss Ratings downgraded Tennant from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. Zacks Research cut Tennant from a “strong-buy” rating to a “strong sell” rating in a research report on Monday. Finally, Wall Street Zen downgraded Tennant from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Tennant presently has an average rating of “Hold” and a consensus target price of $91.00.

Institutional Trading of Tennant

A number of hedge funds have recently modified their holdings of TNC. Hantz Financial Services Inc. raised 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 worth $28,000 after acquiring an additional 177 shares during the period. UMB Bank n.a. grew its position in shares of Tennant by 1,778.6% during the 4th quarter. UMB Bank n.a. now owns 526 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 498 shares during the period. State of Wyoming purchased a new position in shares of Tennant in the 2nd quarter valued at about $73,000. BNP Paribas Financial Markets raised its holdings in Tennant by 25.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,936 shares of the industrial products company’s stock worth $150,000 after purchasing an additional 389 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in 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 worth $193,000 after purchasing an additional 722 shares during the period. Hedge funds and other institutional investors own 93.33% of the company’s stock.

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.