Peregrine Capital Management LLC Acquires 7,616 Shares of Tennant Company $TNC

Peregrine Capital Management LLC boosted its holdings in Tennant Company (NYSE:TNC) by 12.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,065 shares of the industrial products company’s stock after purchasing an additional 7,616 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.38% of Tennant worth $4,586,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. increased its holdings in Tennant by 26.6% in the 3rd quarter. American Century Companies Inc. now owns 434,996 shares of the industrial products company’s stock valued at $35,261,000 after acquiring an additional 91,382 shares during the last quarter. Comerica Bank boosted its stake in Tennant by 106.5% during the fourth quarter. Comerica Bank now owns 25,379 shares of the industrial products company’s stock valued at $1,870,000 after buying an additional 13,089 shares during the last quarter. Deprince Race & Zollo Inc. grew its holdings in Tennant by 15.9% during the 4th quarter. Deprince Race & Zollo Inc. now owns 156,674 shares of the industrial products company’s stock valued at $11,547,000 after buying an additional 21,459 shares in the last quarter. Kopion Asset Management LLC increased its stake in Tennant by 40.6% in the 4th quarter. Kopion Asset Management LLC now owns 123,037 shares of the industrial products company’s stock worth $9,068,000 after acquiring an additional 35,531 shares during the last quarter. Finally, Lightrock Netherlands B.V. raised its holdings in shares of Tennant by 7.2% during the 4th quarter. Lightrock Netherlands B.V. now owns 148,526 shares of the industrial products company’s stock worth $10,946,000 after acquiring an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Weiss Ratings raised shares of Tennant from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. Zacks Research raised shares of Tennant from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen upgraded shares of Tennant from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Tennant currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.00.

Tennant Stock Down 1.5%

Shares of TNC opened at $86.24 on Thursday. The firm has a fifty day moving average price of $85.20 and a 200-day moving average price of $77.74. The company has a current ratio of 2.12, a quick ratio of 1.41 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $1.47 billion, a P/E ratio of 51.95, a P/E/G ratio of 2.44 and a beta of 1.12. Tennant Company has a 12-month low of $60.17 and a 12-month high of $91.93.

Tennant (NYSE:TNC) last announced its quarterly earnings data on Monday, May 4th. The industrial products company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.18. The company had revenue of $297.90 million during the quarter, compared to analyst estimates of $289.25 million. Tennant had a net margin of 2.55% and a return on equity of 14.87%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $1.12 EPS. Tennant has set its FY 2026 guidance at 4.700-5.300 EPS. Equities research analysts expect that Tennant Company will post 5.12 earnings per share for the current year.

Tennant declared that its Board of Directors has initiated a stock repurchase program on Monday, May 4th that permits the company to repurchase 2,000,000,000,000 outstanding shares. This repurchase authorization permits the industrial products company to buy up to 11.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Tennant Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, May 29th. Tennant’s payout ratio is currently 74.70%.

Tennant Company Profile

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.