Semanteon Capital Management LP Acquires Shares of 3,196 Tennant Company $TNC

Semanteon Capital Management LP bought a new stake in Tennant Company (NYSE:TNC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,196 shares of the industrial products company’s stock, valued at approximately $248,000.

Several other institutional investors have also recently modified their holdings of TNC. Banque Transatlantique SA acquired a new stake in Tennant during the first quarter worth approximately $59,000. Alta Fox Capital Management LLC acquired a new stake in Tennant in the 1st quarter valued at $73,000. CWM LLC boosted its holdings in Tennant by 137.0% in the 1st quarter. CWM LLC now owns 1,519 shares of the industrial products company’s stock worth $121,000 after acquiring an additional 878 shares during the period. AlphaQuest LLC grew its holdings in Tennant by 108,150.0% during the 2nd quarter. AlphaQuest LLC now owns 2,165 shares of the industrial products company’s stock valued at $168,000 after purchasing an additional 2,163 shares in the last quarter. Finally, Savant Capital LLC acquired a new position in shares of Tennant in the second quarter worth about $228,000. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Tennant Stock Performance

TNC opened at $72.03 on Monday. The company has a current ratio of 2.09, a quick ratio of 1.38 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $79.66 and its 200-day moving average is $78.94. The stock has a market cap of $1.31 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 1.74 and a beta of 1.07. Tennant Company has a twelve month low of $67.32 and a twelve month high of $93.03.

Tennant (NYSE:TNC) last posted its earnings results on Monday, November 3rd. The industrial products company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.03). The business had revenue of $303.30 million during the quarter, compared to analyst estimates of $306.90 million. Tennant had a net margin of 4.84% and a return on equity of 16.41%. The firm’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.39 earnings per share. Tennant has set its FY 2025 guidance at 5.700-6.200 EPS. On average, analysts predict that Tennant Company will post 5.89 earnings per share for the current year.

Tennant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, November 28th. This is an increase from Tennant’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 1.7%. Tennant’s dividend payout ratio is currently 42.47%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TNC shares. Wall Street Zen upgraded Tennant from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tennant in a research note on Tuesday, November 11th. Zacks Research upgraded Tennant to a “hold” rating in a research note on Tuesday, August 12th. Finally, Roth Capital initiated coverage on Tennant in a report on Friday, October 24th. They set a “buy” rating and a $102.00 target price for the company. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Tennant presently has an average rating of “Moderate Buy” and a consensus price target of $113.50.

About Tennant

Tennant Company, together with its subsidiaries, designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers a suite of products, including floor maintenance and cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, and asset management solutions.