Key Points
- Director Patrick Allen bought 3,000 Tennant shares at an average price of $69.42, investing $208,260 and increasing his ownership by 155.68% to 4,927 shares.
- Tennant’s shares opened at $66.28, near the lower end of their 52-week range, after the company missed quarterly earnings expectations with EPS of $0.83 versus the $1.33 consensus estimate.
- Analyst sentiment is cautious: Tennant has a consensus “Hold” rating and a $91 price target, while institutional investors own 93.33% of the company; its quarterly dividend yields approximately 1.9%.
Tennant Company (NYSE:TNC - Get Free Report) Director Patrick Allen acquired 3,000 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was purchased at an average cost of $69.42 per share, with a total value of $208,260.00. Following the completion of the acquisition, the director owned 4,927 shares of the company's stock, valued at $342,032.34. The trade was a 155.68% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Tennant Trading Down 0.7%
NYSE:TNC opened at $66.28 on Thursday. Tennant Company has a 52 week low of $60.17 and a 52 week high of $91.93. The company has a quick ratio of 1.37, a current ratio of 2.04 and a debt-to-equity ratio of 0.67. The company has a market cap of $1.13 billion, a PE ratio of 64.98, a P/E/G ratio of 2.48 and a beta of 1.11. The business's 50 day moving average is $74.39 and its two-hundred day moving average is $77.90.
Tennant (NYSE:TNC - Get Free Report) 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 the consensus estimate of $1.33 by ($0.50). Tennant had a net margin of 1.50% and a return on equity of 13.32%. The firm had revenue of $324.00 million for the quarter, compared to analyst estimates of $329.55 million. During the same period in the prior year, the company posted $1.49 earnings per share. The business's revenue was up 1.7% on a year-over-year basis. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. On average, analysts predict that Tennant Company will post 3.85 EPS for the current year.
Tennant Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $1.24 annualized dividend and a dividend yield of 1.9%. Tennant's payout ratio is 121.57%.
Wall Street Analyst Weigh In
TNC has been the topic of a number of recent research reports. Weiss Ratings cut shares of Tennant from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, September 11th. Zacks Research lowered Tennant from a "strong-buy" rating to a "strong sell" rating in a report on Monday, August 10th. Finally, Wall Street Zen cut Tennant from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. One 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $91.00.
Check Out Our Latest Stock Report on TNC
Institutional Trading of Tennant
A number of large investors have recently modified their holdings of TNC. Hantz Financial Services Inc. boosted its stake in Tennant by 85.1% during the 4th 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. Public Employees Retirement System of Ohio acquired a new stake in shares of Tennant in the second quarter valued at approximately $39,000. Aristides Capital LLC acquired a new stake in shares of Tennant in the fourth quarter valued at approximately $201,000. Amundi acquired a new stake in shares of Tennant in the second quarter valued at approximately $247,000. Finally, Pictet Asset Management Holding SA bought a new stake in shares of Tennant during the first quarter valued at approximately $203,000. Institutional investors and hedge funds own 93.33% of the company's stock.
Tennant Company Profile
(
Get Free Report)
Tennant Company is a manufacturer of cleaning equipment and related solutions for commercial, industrial and institutional customers. Its product portfolio includes industrial floor scrubbers, sweepers, outdoor cleaning equipment, and compact machines designed for a range of facility sizes and cleaning requirements.
The company also provides autonomous cleaning machines, cleaning chemicals, replacement parts, service and maintenance programs, and technology-enabled solutions intended to improve cleaning productivity and facility operations.
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