Tennant Company $TNC Position Raised by Kopion Asset Management LLC

Kopion Asset Management LLC grew its stake in Tennant Company (NYSE:TNC) by 22.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 121,980 shares of the industrial products company’s stock after purchasing an additional 22,102 shares during the period. Tennant comprises approximately 5.4% of Kopion Asset Management LLC’s holdings, making the stock its 10th largest position. Kopion Asset Management LLC’s holdings in Tennant were worth $8,199,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Tennant during the 2nd quarter valued at approximately $236,255,000. Gamco Investors INC. ET AL boosted its stake in Tennant by 40.5% during the first quarter. Gamco Investors INC. ET AL now owns 706,400 shares of the industrial products company’s stock worth $46,905,000 after buying an additional 203,802 shares during the period. Dimensional Fund Advisors LP boosted its stake in Tennant by 8.4% during the first quarter. Dimensional Fund Advisors LP now owns 634,158 shares of the industrial products company’s stock worth $42,106,000 after buying an additional 49,136 shares during the period. Bank of New York Mellon Corp bought a new position in Tennant during the second quarter valued at $28,562,000. Finally, Invenomic Capital Management LP increased its position in Tennant by 0.4% during the fourth quarter. Invenomic Capital Management LP now owns 331,174 shares of the industrial products company’s stock valued at $24,408,000 after acquiring an additional 1,259 shares during the last quarter. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Tennant Trading Down 0.3%

Shares of TNC traded down $0.17 during trading hours on Friday, reaching $65.77. 44,501 shares of the company traded hands, compared to its average volume of 215,785. The stock’s fifty day moving average price is $70.18 and its 200 day moving average price is $78.19. The company has a current ratio of 2.04, a quick ratio of 1.37 and a debt-to-equity ratio of 0.67. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 64.47, a PEG ratio of 2.45 and a beta of 1.15. Tennant Company has a 12-month low of $60.17 and a 12-month high of $91.93.

Tennant (NYSE:TNC) last posted its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.83 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.50). The company had revenue of $324.00 million during the quarter, compared to analysts’ expectations of $329.55 million. Tennant had a return on equity of 13.32% and a net margin of 1.50%.The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.49 EPS. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. Sell-side analysts forecast that Tennant Company will post 3.84 earnings per share for the current year.

Tennant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $1.24 dividend on an annualized basis and a yield of 1.9%. Tennant’s dividend payout ratio is 121.57%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Tennant from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 11th. Zacks Research lowered shares of 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 research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Tennant currently has a consensus rating of “Hold” and a consensus price target of $91.00.

Insider Buying and Selling

In other Tennant news, Director Patrick Allen purchased 3,000 shares of the stock in a transaction dated Monday, August 31st. The stock was purchased at an average price of $69.42 per share, with a total value of $208,260.00. Following the transaction, the director owned 4,927 shares of the company’s stock, valued at approximately $342,032.34. This trade represents a 155.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Donal Mulligan bought 8,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were bought at an average cost of $67.34 per share, for a total transaction of $538,720.00. Following the transaction, the director directly owned 16,000 shares in the company, valued at approximately $1,077,440. This represents a 100.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 12,500 shares of company stock valued at $849,250 over the last three months. 3.50% of the stock is owned by company insiders.

About Tennant

Tennant Company (NYSE:TNC) designs, manufactures and markets cleaning equipment and related solutions for commercial, industrial and institutional customers. Its products are used to clean and maintain floors and other surfaces in facilities such as warehouses, manufacturing plants, retail stores, healthcare facilities, schools and public buildings.

The company’s product portfolio includes floor scrubbers, sweepers, combination machines, vacuums, outdoor cleaning equipment and autonomous cleaning machines.