First Trust Advisors LP Has $2.10 Million Position in Tennant Company $TNC

First Trust Advisors LP raised its holdings in shares of Tennant Company (NYSE:TNC) by 60.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,570 shares of the industrial products company’s stock after purchasing an additional 11,952 shares during the quarter. First Trust Advisors LP owned approximately 0.19% of Tennant worth $2,096,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. increased its holdings 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 valued at $28,000 after purchasing an additional 177 shares during the last quarter. UMB Bank n.a. boosted its holdings 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 worth $39,000 after buying an additional 498 shares during the period. State of Wyoming bought a new stake in shares of Tennant during the 2nd quarter worth about $73,000. BNP Paribas Financial Markets grew its stake 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 valued at $150,000 after buying an additional 389 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake 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 valued at $193,000 after buying an additional 722 shares during the last quarter. 93.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TNC has been the subject of several research reports. Weiss Ratings raised Tennant from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. Zacks Research upgraded Tennant from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 26th. Finally, Wall Street Zen cut Tennant from a “buy” rating to a “hold” rating in a research report on Saturday. One equities 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’s stock. According to data from MarketBeat.com, Tennant has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

Tennant Price Performance

TNC stock opened at $73.77 on Friday. Tennant Company has a 1 year low of $60.17 and a 1 year high of $91.93. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 72.32, a P/E/G ratio of 2.56 and a beta of 1.13. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.04 and a quick ratio of 1.41. The company has a 50 day simple moving average of $86.35 and a 200 day simple moving average of $79.50.

Tennant (NYSE:TNC) last posted its earnings results on Wednesday, August 5th. The industrial products company reported $0.83 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.50). Tennant had a return on equity of 13.32% and a net margin of 1.50%.The business had revenue of $324.00 million for the quarter, compared to analyst estimates of $329.55 million. During the same quarter in the prior year, the business earned $1.49 earnings per share. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. Research analysts anticipate that Tennant Company will post 4.13 EPS for the current fiscal year.

Tennant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.24 annualized dividend and a yield of 1.7%. Tennant’s payout ratio is presently 121.57%.

Tennant announced that its Board of Directors has authorized a stock repurchase plan on Monday, May 4th that authorizes the company to repurchase 2,000,000,000,000 shares. This repurchase authorization authorizes the industrial products company to buy up to 11.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is 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.