VIRGINIA RETIREMENT SYSTEMS ET Al Takes $2.95 Million Position in Tennant Company $TNC

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Tennant Company (NYSE:TNC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 33,700 shares of the industrial products company’s stock, valued at approximately $2,950,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.20% of Tennant at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in TNC. Hantz Financial Services Inc. lifted its holdings in Tennant by 85.1% in the 4th 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 acquired a new stake in shares of Tennant during the second quarter valued at about $39,000. UMB Bank n.a. increased its position in shares of Tennant by 1,778.6% during the fourth quarter. UMB Bank n.a. now owns 526 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 498 shares during the last quarter. State of Wyoming purchased a new stake in shares of Tennant during the second quarter worth about $73,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Tennant by 25.1% in the second quarter. BNP Paribas Financial Markets now owns 1,936 shares of the industrial products company’s stock worth $150,000 after acquiring an additional 389 shares in the last quarter. 93.33% of the stock is owned by institutional investors and hedge funds.

Tennant Price Performance

Shares of NYSE:TNC opened at $69.04 on Friday. The company has a market cap of $1.18 billion, a PE ratio of 67.68, a P/E/G ratio of 2.64 and a beta of 1.11. Tennant Company has a fifty-two week low of $60.17 and a fifty-two week high of $91.93. The firm has a 50-day simple moving average of $77.75 and a 200 day simple moving average of $77.70. 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 issued its earnings results on Wednesday, August 5th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $329.55 million. During the same period in the prior year, the business earned $1.49 EPS. The business’s revenue was up 1.7% on a year-over-year basis. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. On average, sell-side analysts anticipate that Tennant Company will post 3.85 EPS for the current year.

Tennant Announces Dividend

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

Insider Buying and Selling

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

Analyst Ratings Changes

TNC has been the subject of a number of recent analyst reports. Weiss Ratings upgraded Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Zacks Research lowered Tennant from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, August 10th. Finally, Wall Street Zen cut 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $91.00.

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.