Donal Mulligan Acquires 8,000 Shares of Tennant (NYSE:TNC) Stock

Tennant Company (NYSE:TNC) Director Donal Mulligan bought 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were acquired at an average price of $67.34 per share, with a total value of $538,720.00. Following the completion of the transaction, the director directly owned 16,000 shares of the company’s stock, valued at $1,077,440. This trade represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Tennant Price Performance

NYSE:TNC opened at $68.57 on Friday. The firm’s fifty day moving average is $84.69 and its two-hundred day moving average is $79.13. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 67.23, a PEG ratio of 2.51 and a beta of 1.13. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.37 and a current ratio of 2.04. Tennant Company has a one year low of $60.17 and a one year high of $91.93.

Tennant (NYSE:TNC) last released its quarterly earnings data 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 company had revenue of $324.00 million for 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%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.49 EPS. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. Research analysts expect that Tennant Company will post 3.85 EPS for the current year.

Tennant declared that its Board of Directors has initiated a share buyback plan on Monday, May 4th that authorizes the company to repurchase 2,000,000,000,000 shares. This repurchase authorization authorizes the industrial products company to purchase up to 11.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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 given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, August 31st. Tennant’s dividend payout ratio (DPR) is currently 121.57%.

Hedge Funds Weigh In On Tennant

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank increased its stake in shares of Tennant by 106.5% during the fourth quarter. Comerica Bank now owns 25,379 shares of the industrial products company’s stock worth $1,870,000 after purchasing an additional 13,089 shares in the last quarter. Lightrock Netherlands B.V. raised its position 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 purchasing an additional 10,000 shares during the last quarter. Gabelli Funds LLC lifted its stake in Tennant by 11.6% in the 1st quarter. Gabelli Funds LLC now owns 199,700 shares of the industrial products company’s stock valued at $13,260,000 after buying an additional 20,808 shares in the last quarter. River Road Asset Management LLC lifted its stake in Tennant by 9.9% in the 4th quarter. River Road Asset Management LLC now owns 265,530 shares of the industrial products company’s stock valued at $19,570,000 after buying an additional 23,823 shares in the last quarter. Finally, Deprince Race & Zollo Inc. boosted its holdings in Tennant by 16.9% in the 1st quarter. Deprince Race & Zollo Inc. now owns 183,084 shares of the industrial products company’s stock worth $12,157,000 after buying an additional 26,410 shares during the last quarter. 93.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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