Deprince Race & Zollo Inc. Buys 26,410 Shares of Tennant Company $TNC

Key Points

• Deprince Race & Zollo increased its Tennant stake by 16.9% in Q1, buying 26,410 shares and bringing its total holding to 183,084 shares valued at about $12.16 million.
• Analysts are becoming more upbeat on Tennant, with recent rating upgrades from Zacks Research and Wall Street Zen. The stock now carries a consensus Moderate Buy rating with an average target price of $91.
• Tennant reported better-than-expected quarterly results, including EPS of $0.58 versus $0.40 expected and revenue of $297.9 million. The company also pays a quarterly dividend of $0.31 and has authorized a large share repurchase program.

Deprince Race & Zollo Inc. lifted its stake in Tennant Company (NYSE:TNC - Free Report) by 16.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 183,084 shares of the industrial products company's stock after purchasing an additional 26,410 shares during the quarter. Deprince Race & Zollo Inc. owned about 1.02% of Tennant worth $12,157,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Hantz Financial Services Inc. lifted its position in Tennant by 85.1% in the fourth quarter. Hantz Financial Services Inc. now owns 385 shares of the industrial products company's stock worth $28,000 after buying an additional 177 shares during the last quarter. UMB Bank n.a. boosted its stake in Tennant by 1,778.6% during the fourth quarter. UMB Bank n.a. now owns 526 shares of the industrial products company's stock worth $39,000 after buying an additional 498 shares during the period. State of Wyoming bought a new position in Tennant during the second quarter valued at $73,000. BNP Paribas Financial Markets increased its position in 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 acquiring an additional 389 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Tennant by 40.8% in 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 acquiring an additional 722 shares during the period. Institutional investors own 93.33% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Tennant from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 26th. Weiss Ratings upgraded shares of Tennant from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, June 5th. Finally, Wall Street Zen raised shares of Tennant from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $91.00.

Tennant Price Performance

TNC opened at $87.49 on Friday. The business has a fifty day moving average of $85.37 and a 200 day moving average of $77.82. 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 1.41, a current ratio of 2.12 and a debt-to-equity ratio of 0.67. The stock has a market cap of $1.49 billion, a P/E ratio of 52.71, a PEG ratio of 2.40 and a beta of 1.12.

Tennant (NYSE:TNC - Get Free Report) last released its earnings results on Monday, May 4th. The industrial products company reported $0.58 earnings per share 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 business had revenue of $297.90 million for the quarter, compared to analyst estimates of $289.25 million. During the same quarter last year, the firm posted $1.12 earnings per share. The business's revenue was up 2.7% compared to the same quarter last year. Tennant has set its FY 2026 guidance at 4.700-5.300 EPS. As a group, sell-side analysts anticipate that Tennant Company will post 5.12 EPS for the current year.

Tennant Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a $0.31 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.4%. Tennant's dividend payout ratio is presently 74.70%.

Tennant announced that its board has initiated a stock repurchase plan on Monday, May 4th that authorizes the company to repurchase 2,000,000,000,000 shares. This repurchase authorization authorizes the industrial products company to repurchase up to 11.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

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.

Want to see what other hedge funds are holding TNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tennant Company (NYSE:TNC - Free Report).

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.