Tennant (NYSE:TNC) Stock: Insider Patrick Allen Acquires 3,000 Shares

Tennant Company (NYSE:TNC) Director Patrick Allen bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were acquired at an average price of $69.42 per share, for a total transaction of $208,260.00. Following the completion of the transaction, the director owned 4,927 shares in the company, valued at $342,032.34. This trade represents a 155.68% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Tennant Stock Performance

Shares of Tennant stock opened at $66.14 on Friday. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 64.84, a P/E/G ratio of 2.48 and a beta of 1.11. Tennant Company has a twelve month low of $60.17 and a twelve month high of $91.93. The company’s fifty day moving average is $73.95 and its 200 day moving average is $77.93. The company has a quick ratio of 1.37, a current ratio of 2.04 and a debt-to-equity ratio of 0.67.

Tennant (NYSE:TNC) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $329.55 million. Tennant had a return on equity of 13.32% and a net margin of 1.50%.Tennant’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.49 EPS. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. Sell-side analysts forecast that Tennant Company will post 3.85 EPS for the current year.

Tennant Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were given a $0.31 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $1.24 annualized dividend and a yield of 1.9%. Tennant’s dividend payout ratio (DPR) is presently 121.57%.

Hedge Funds Weigh In On Tennant

Several large investors have recently modified their holdings of TNC. Hantz Financial Services Inc. lifted 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 worth $28,000 after buying an additional 177 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Tennant during the second quarter valued at approximately $39,000. Aristides Capital LLC purchased a new position in Tennant during the fourth quarter valued at approximately $201,000. Amundi bought a new stake in Tennant during the 2nd quarter worth approximately $247,000. Finally, Pictet Asset Management Holding SA bought a new stake in Tennant during the 1st quarter worth approximately $203,000. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TNC shares. Wall Street Zen downgraded Tennant from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings downgraded Tennant from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, September 11th. Finally, Zacks Research lowered Tennant from a “strong-buy” rating to a “strong sell” rating in a report on Monday, August 10th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Tennant presently has an average rating of “Hold” and a consensus price target of $91.00.

About Tennant

Tennant Company is a manufacturer of cleaning equipment and related solutions for commercial, industrial and institutional customers. Its product portfolio includes industrial floor scrubbers, sweepers, outdoor cleaning equipment, and compact machines designed for a range of facility sizes and cleaning requirements.

The company also provides autonomous cleaning machines, cleaning chemicals, replacement parts, service and maintenance programs, and technology-enabled solutions intended to improve cleaning productivity and facility operations.