Martin & Co. Inc. TN Invests $2.28 Million in Tennant Company $TNC

Martin & Co. Inc. TN acquired a new position in shares of Tennant Company (NYSE:TNC) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 26,086 shares of the industrial products company’s stock, valued at approximately $2,284,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Tennant during the second quarter worth $236,255,000. Bank of New York Mellon Corp purchased a new stake in shares of Tennant in the second quarter valued at $28,562,000. Gamco Investors INC. ET AL lifted its position in shares of Tennant by 40.5% in the first quarter. Gamco Investors INC. ET AL now owns 706,400 shares of the industrial products company’s stock valued at $46,905,000 after acquiring an additional 203,802 shares in the last quarter. Vision One Management Partners LP lifted its position in shares of Tennant by 63.1% in the third quarter. Vision One Management Partners LP now owns 291,864 shares of the industrial products company’s stock valued at $23,212,000 after acquiring an additional 112,873 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Tennant by 33.8% during the fourth quarter. Millennium Management LLC now owns 358,452 shares of the industrial products company’s stock valued at $26,418,000 after acquiring an additional 90,611 shares during the last quarter. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Tennant Trading Up 1.0%

Shares of Tennant stock opened at $68.67 on Friday. Tennant Company has a fifty-two week low of $60.17 and a fifty-two week high of $91.93. The business’s fifty day moving average is $82.82 and its two-hundred day moving average is $78.85. The company has a quick ratio of 1.37, a current ratio of 2.04 and a debt-to-equity ratio of 0.67. The firm has a market cap of $1.17 billion, a PE ratio of 67.32, a P/E/G ratio of 2.55 and a beta of 1.13.

Tennant (NYSE:TNC) last announced its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.50). The business had revenue of $324.00 million during the quarter, compared to analysts’ expectations of $329.55 million. Tennant had a net margin of 1.50% and a return on equity of 13.32%. Tennant’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.49 EPS. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. Analysts anticipate that Tennant Company will post 3.85 earnings per share for the current year.

Tennant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a $0.31 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.24 annualized dividend and a yield of 1.8%. Tennant’s payout ratio is 121.57%.

Tennant announced that its board has initiated a share buyback plan on Monday, May 4th that permits the company to buyback 2,000,000,000,000 shares. This buyback authorization permits the industrial products company to reacquire up to 11.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Tennant

In related news, Director Donal L. Mulligan acquired 8,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was bought at an average price of $67.34 per share, with a total value of $538,720.00. Following the purchase, the director directly owned 16,000 shares in the company, valued at $1,077,440. The trade was a 100.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy R. Morse acquired 1,500 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were bought at an average price of $68.18 per share, for a total transaction of $102,270.00. Following the completion of the acquisition, the director owned 10,614 shares in the company, valued at approximately $723,662.52. This trade represents a 16.46% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 3.50% of the company’s stock.

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.