Tennant Company (NYSE:TNC - Get Free Report) Director Donal Mulligan purchased 3,000 shares of the firm's stock in a transaction that occurred on Friday, February 27th. The stock was acquired at an average price of $61.61 per share, for a total transaction of $184,830.00. Following the completion of the purchase, the director owned 8,000 shares of the company's stock, valued at approximately $492,880. This represents a 60.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Tennant Price Performance
Tennant stock opened at $60.98 on Tuesday. The company has a market cap of $1.09 billion, a P/E ratio of 26.06, a price-to-earnings-growth ratio of 1.81 and a beta of 1.07. Tennant Company has a one year low of $60.17 and a one year high of $87.72. The business has a fifty day moving average of $76.84 and a two-hundred day moving average of $77.86. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.37 and a current ratio of 2.05.
Tennant Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.24 annualized dividend and a yield of 2.0%. Tennant's payout ratio is currently 52.99%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on TNC shares. Freedom Capital cut shares of Tennant from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 26th. Weiss Ratings reissued a "hold (c)" rating on shares of Tennant in a research note on Monday, December 29th. Wall Street Zen downgraded Tennant from a "buy" rating to a "hold" rating in a research report on Saturday. Roth Mkm reiterated a "buy" rating and set a $91.00 target price (down from $107.00) on shares of Tennant in a report on Wednesday, February 25th. Finally, Zacks Research downgraded Tennant from a "hold" rating to a "strong sell" rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Tennant has a consensus rating of "Hold" and an average target price of $91.00.
Read Our Latest Stock Report on TNC
Institutional Trading of Tennant
A number of institutional investors and hedge funds have recently made changes to their positions in TNC. River Road Asset Management LLC boosted its holdings in Tennant by 131.0% in the second quarter. River Road Asset Management LLC now owns 240,167 shares of the industrial products company's stock valued at $19,823,000 after acquiring an additional 136,221 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Tennant by 54.2% in the 2nd quarter. American Century Companies Inc. now owns 343,614 shares of the industrial products company's stock worth $26,623,000 after purchasing an additional 120,793 shares during the period. Vision One Management Partners LP lifted its stake in shares of Tennant by 63.1% in the 3rd quarter. Vision One Management Partners LP now owns 291,864 shares of the industrial products company's stock valued at $23,212,000 after purchasing an additional 112,873 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Tennant by 33.8% during the 4th quarter. Millennium Management LLC now owns 358,452 shares of the industrial products company's stock worth $26,418,000 after purchasing an additional 90,611 shares during the period. Finally, Jane Street Group LLC grew its holdings in shares of Tennant by 158.4% during the 4th quarter. Jane Street Group LLC now owns 94,461 shares of the industrial products company's stock worth $6,962,000 after purchasing an additional 57,907 shares during the period. 93.33% of the stock is currently owned by institutional investors and hedge funds.
Tennant News Summary
Here are the key news stories impacting Tennant this week:
- Positive Sentiment: CEO David W. Huml purchased 4,000 shares at about $64.39 (increasing his stake ~6.25%), a show of insider confidence from the chief executive. CEO Form 4
- Positive Sentiment: Director Donal L. Mulligan bought a total of 8,000 shares across Feb. 26–27 (purchases at ~$63.86 and $61.61), a meaningful increase in his holdings. Director Form 4
- Positive Sentiment: Director James T. Glerum bought 8,163 shares at about $61.25, a large increase in his position that signals management-level buying. Director Form 4
- Neutral Sentiment: Research notes and Q1 earnings estimates are being circulated; analysts’ forecasts may influence short‑term reaction but are routine. Analyst Estimates
- Neutral Sentiment: Feature pieces presenting a “bull case” for Tennant are available; useful for longer‑term thesis but less likely to move stock immediately. Bull Case Article
- Negative Sentiment: Director David Windley sold 3,694 shares (~33% reduction of his holdings) at about $63.86, which could be read negatively by investors. Director Sale Form 4
- Negative Sentiment: Director Carol S. Eicher sold 3,130 shares at about $61.98 (a ~9.8% reduction), another insider sale that may weigh on sentiment. Director Sale Form 4
- Negative Sentiment: Multiple law firms (Kirby McInerney, Block & Leviton, Schall) announced investigations into possible securities‑law claims related to Tennant’s recent quarterly results and guidance — a material legal overhang that likely pressured the stock. Kirby McInerney Alert
- Negative Sentiment: Block & Leviton announced a securities‑fraud investigation encouraging affected investors to contact the firm, adding to legal risk and negative sentiment. Block & Leviton Notice
- Negative Sentiment: The Schall Law Firm also opened an investigation, reinforcing the narrative of potential liability after the company’s earnings/guidance update. Schall Law Firm Alert
About Tennant
(
Get Free Report)
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.
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