Donal Mulligan Purchases 8,000 Shares of Tennant (NYSE:TNC) Stock

Key Points

• Director Donal Mulligan bought 8,000 Tennant shares at an average price of $67.34, investing $538,720 and doubling his direct ownership to 16,000 shares.
• Tennant’s stock traded at $67.92, near its 12-month low, after the company reported quarterly EPS of $0.83—$0.50 below estimates—and revenue of $324 million, slightly below expectations.
• Analyst sentiment is mixed but centers on a “Hold” rating, while Tennant maintains a quarterly dividend of $0.31 per share and has authorized a buyback covering up to 11.1% of outstanding shares.

Tennant Company (NYSE:TNC - Get Free Report) Director Donal Mulligan bought 8,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average price of $67.34 per share, for a total transaction of $538,720.00. Following the completion of the purchase, the director directly owned 16,000 shares in the company, valued at $1,077,440. The trade was a 100.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Tennant Stock Performance

Tennant stock traded down $1.33 on Thursday, reaching $67.92. 305,086 shares of the stock were exchanged, compared to its average volume of 222,539. The stock has a market cap of $1.16 billion, a PE ratio of 66.58, a PEG ratio of 2.46 and a beta of 1.13. The company has a current ratio of 2.04, a quick ratio of 1.37 and a debt-to-equity ratio of 0.67. Tennant Company has a twelve month low of $60.17 and a twelve month high of $91.93. The firm has a fifty day moving average price of $85.33 and a two-hundred day moving average price of $79.27.

Tennant (NYSE:TNC - Get Free Report) last issued 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). The business had revenue of $324.00 million during the quarter, compared to analyst estimates of $329.55 million. Tennant had a net margin of 1.50% and a return on equity of 13.32%. The company's revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.49 earnings per share. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. Sell-side analysts anticipate that Tennant Company will post 3.85 EPS for the current year.

Tennant declared that its Board of Directors has approved a share repurchase program on Monday, May 4th that allows the company to buyback 2,000,000,000,000 shares. This buyback authorization allows the industrial products company to repurchase up to 11.1% of its stock through open market purchases. Stock buyback programs are usually an indication 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 given 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 payout ratio is currently 121.57%.

Institutional Trading of Tennant

Institutional investors and hedge funds have recently modified their holdings of the company. Comerica Bank increased its stake in Tennant by 106.5% in the fourth quarter. Comerica Bank now owns 25,379 shares of the industrial products company's stock valued at $1,870,000 after acquiring an additional 13,089 shares during the period. Lightrock Netherlands B.V. lifted its stake in Tennant by 7.2% during the fourth quarter. Lightrock Netherlands B.V. now owns 148,526 shares of the industrial products company's stock worth $10,946,000 after purchasing an additional 10,000 shares during the period. Gabelli Funds LLC boosted its holdings in Tennant by 11.6% during the first quarter. Gabelli Funds LLC now owns 199,700 shares of the industrial products company's stock valued at $13,260,000 after purchasing an additional 20,808 shares in the last quarter. River Road Asset Management LLC boosted its holdings in Tennant by 9.9% during the fourth quarter. River Road Asset Management LLC now owns 265,530 shares of the industrial products company's stock valued at $19,570,000 after purchasing an additional 23,823 shares in the last quarter. Finally, Deprince Race & Zollo Inc. grew its stake in shares of Tennant by 16.9% in the 1st quarter. Deprince Race & Zollo Inc. now owns 183,084 shares of the industrial products company's stock valued at $12,157,000 after purchasing an additional 26,410 shares during the period. 93.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TNC has been the topic of a number of research reports. Weiss Ratings lowered shares of Tennant from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday. Zacks Research lowered shares of Tennant from a "strong-buy" rating to a "strong sell" rating in a research report on Monday. Finally, Wall Street Zen downgraded shares of Tennant from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Tennant presently has a consensus rating of "Hold" and a consensus target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source