Comerica Bank Purchases 13,089 Shares of Tennant Company $TNC

Key Points

• Comerica Bank increased its stake in Tennant by 106.5%, buying 13,089 shares to hold 25,379 shares worth about $1.87 million (roughly 0.14% of the company) per its latest 13F filing.
• Tennant beat expectations for the quarter with $0.58 EPS vs. $0.40 expected and $297.9M revenue, and set FY2026 guidance of 4.70–5.30 EPS (consensus 4.84).
• The board initiated a share buyback (authorizing repurchase of 2,000,000,000,000 shares, stated as up to 11.1% of shares), alongside a $0.31 quarterly dividend (1.4% yield), while institutional ownership remains high at 93.33%.

Comerica Bank lifted its position in Tennant Company (NYSE:TNC - Free Report) by 106.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,379 shares of the industrial products company's stock after buying an additional 13,089 shares during the period. Comerica Bank owned about 0.14% of Tennant worth $1,870,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. CoreCap Advisors LLC purchased a new position in shares of Tennant during the third quarter valued at approximately $30,000. Whittier Trust Co. purchased a new position in shares of Tennant during the third quarter valued at approximately $74,000. State of Wyoming purchased a new position in shares of Tennant during the second quarter valued at approximately $73,000. BNP Paribas Financial Markets raised its holdings in shares of Tennant by 25.1% during the second quarter. BNP Paribas Financial Markets now owns 1,936 shares of the industrial products company's stock valued at $150,000 after purchasing an additional 389 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Tennant by 40.8% during the second quarter. Tower Research Capital LLC TRC now owns 2,492 shares of the industrial products company's stock valued at $193,000 after purchasing an additional 722 shares during the last quarter. Institutional investors own 93.33% of the company's stock.

Tennant Price Performance

Shares of Tennant stock opened at $87.04 on Thursday. Tennant Company has a one year low of $60.17 and a one year high of $88.07. The stock's fifty day moving average is $70.72 and its 200 day moving average is $74.77. The stock has a market cap of $1.57 billion, a P/E ratio of 52.43, a P/E/G ratio of 2.44 and a beta of 1.12. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.37 and a current ratio of 2.12.

Tennant (NYSE:TNC - Get Free Report) last announced its earnings results on Monday, May 4th. The industrial products company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.18. Tennant had a return on equity of 14.87% and a net margin of 2.55%.The company had revenue of $297.90 million for the quarter, compared to analysts' expectations of $289.25 million. During the same period last year, the firm earned $1.12 EPS. Tennant's revenue for the quarter was up 2.7% compared to the same quarter last year. Tennant has set its FY 2026 guidance at 4.700-5.300 EPS. Sell-side analysts anticipate that Tennant Company will post 4.84 earnings per share for the current year.

Tennant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, May 29th. Tennant's dividend payout ratio (DPR) is currently 74.70%.

Tennant announced that its Board of Directors has initiated a share buyback 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 repurchase up to 11.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Freedom Capital cut shares of Tennant from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 26th. Zacks Research raised shares of Tennant from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. Weiss Ratings raised shares of Tennant from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, April 24th. Wall Street Zen cut shares of Tennant from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Finally, 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. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Tennant presently has a consensus rating of "Hold" and a consensus target price of $91.00.

Insider Buying and Selling

In related news, Director David Windley sold 3,694 shares of the firm's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $63.86, for a total value of $235,898.84. Following the transaction, the director directly owned 7,422 shares of the company's stock, valued at approximately $473,968.92. This trade represents a 33.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James T. Jr. Glerum acquired 8,163 shares of Tennant stock in a transaction dated Monday, March 2nd. The stock was purchased at an average cost of $61.25 per share, with a total value of $499,983.75. Following the completion of the purchase, the director owned 8,600 shares of the company's stock, valued at approximately $526,750. This represents a 1,867.96% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 20,163 shares of company stock worth $1,261,674 in the last quarter. Company insiders own 3.50% of the company's stock.

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.

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