Insider Buying: Tennant (NYSE:TNC) Director Acquires $102,270.00 in Stock

Tennant Company (NYSE:TNC) Director Timothy Morse purchased 1,500 shares of the stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average price of $68.18 per share, for a total transaction of $102,270.00. Following the completion of the acquisition, the director directly owned 10,614 shares in the company, valued at approximately $723,662.52. This represents a 16.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

Tennant Stock Up 1.4%

Shares of TNC stock opened at $68.57 on Friday. Tennant Company has a 1-year low of $60.17 and a 1-year high of $91.93. The stock’s fifty day moving average price is $84.69 and its 200 day moving average price is $79.13. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.04 and a quick ratio of 1.37. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 67.23, a price-to-earnings-growth ratio of 2.55 and a beta of 1.13.

Tennant (NYSE:TNC) last posted its quarterly 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). 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 posted $1.49 EPS. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. On average, research analysts expect that Tennant Company will post 3.85 earnings per share for the current fiscal year.

Tennant announced that its Board of Directors has approved a share repurchase program on Monday, May 4th that authorizes the company to repurchase 2,000,000,000,000 outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 11.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Tennant Dividend Announcement

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

Institutional Trading of Tennant

Several large investors have recently added to or reduced their stakes in TNC. Comerica Bank raised its holdings in shares of Tennant by 1.2% during the 3rd quarter. Comerica Bank now owns 12,290 shares of the industrial products company’s stock worth $996,000 after acquiring an additional 144 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Tennant by 2.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,115 shares of the industrial products company’s stock valued at $451,000 after acquiring an additional 148 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Tennant by 85.1% in the fourth quarter. Hantz Financial Services Inc. now owns 385 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 177 shares during the period. Swiss National Bank grew its holdings in shares of Tennant by 0.6% in the third quarter. Swiss National Bank now owns 34,300 shares of the industrial products company’s stock valued at $2,780,000 after purchasing an additional 200 shares during the period. Finally, State of Tennessee Department of Treasury increased its position in Tennant by 3.9% during the fourth quarter. State of Tennessee Department of Treasury now owns 6,559 shares of the industrial products company’s stock worth $499,000 after purchasing an additional 247 shares during the last quarter. 93.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on TNC shares. Zacks Research lowered shares of Tennant from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, August 10th. Weiss Ratings downgraded shares of Tennant from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. Finally, Wall Street Zen lowered shares of 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. Based on data from MarketBeat, the stock currently 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.