Tennant Company $TNC Shares Sold by UBS Group AG

UBS Group AG cut its stake in shares of Tennant Company (NYSE:TNC) by 27.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,671 shares of the industrial products company’s stock after selling 24,836 shares during the quarter. UBS Group AG owned about 0.37% of Tennant worth $4,914,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Teacher Retirement System of Texas grew its holdings in shares of Tennant by 27.4% during the fourth quarter. Teacher Retirement System of Texas now owns 75,114 shares of the industrial products company’s stock valued at $5,536,000 after buying an additional 16,142 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Tennant by 86.5% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 24,800 shares of the industrial products company’s stock valued at $1,835,000 after buying an additional 11,500 shares during the last quarter. Evergreen Capital Management LLC purchased a new stake in shares of Tennant during the fourth quarter valued at $301,000. Lightrock Netherlands B.V. grew its holdings in shares of Tennant by 7.2% during the fourth quarter. Lightrock Netherlands B.V. now owns 148,526 shares of the industrial products company’s stock valued at $10,946,000 after buying an additional 10,000 shares during the last quarter. Finally, Deprince Race & Zollo Inc. grew its holdings in shares of Tennant by 15.9% during the fourth 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 during the last quarter. 93.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TNC has been the topic of a number of research analyst reports. Weiss Ratings lowered shares of Tennant from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Roth Mkm reissued a “buy” rating and set a $91.00 price objective (down from $107.00) on shares of Tennant in a report on Wednesday, February 25th. Wall Street Zen raised shares of Tennant from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Freedom Capital lowered shares of Tennant from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Finally, Zacks Research raised shares of Tennant from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $91.00.

Insider Buying and Selling

In other Tennant news, Director James T. Jr. Glerum purchased 8,163 shares of the stock in a transaction on Monday, March 2nd. The shares were bought at an average cost of $61.25 per share, with a total value of $499,983.75. Following the completion of the acquisition, the director owned 8,600 shares in the company, valued at $526,750. This trade represents a 1,867.96% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David W. Huml acquired 4,000 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was purchased at an average price of $64.39 per share, with a total value of $257,560.00. Following the transaction, the chief executive officer owned 67,958 shares of the company’s stock, valued at approximately $4,375,815.62. This trade represents a 6.25% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 20,163 shares of company stock valued at $1,261,674 in the last 90 days. 3.50% of the stock is currently owned by insiders.

Tennant Price Performance

NYSE:TNC opened at $82.26 on Friday. Tennant Company has a one year low of $60.17 and a one year high of $88.86. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.41 and a current ratio of 2.12. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 49.56, a PEG ratio of 2.31 and a beta of 1.12. The firm’s fifty day moving average is $75.38 and its two-hundred day moving average is $74.95.

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

Tennant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, May 29th. Tennant’s dividend payout ratio is presently 74.70%.

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

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.