Deutsche Bank AG Purchases Shares of 18,690 Tennant Company $TNC

Key Points

• Deutsche Bank initiated a position in Tennant, purchasing 18,690 shares valued at approximately $1.64 million. Institutional investors and hedge funds collectively own 93.33% of the company.
• Tennant reported quarterly EPS of $0.83, missing analyst expectations of $1.33, while revenue of $324 million also fell short of estimates. Shares opened at $70.12, below their 50-day and 200-day moving averages, and analysts have a consensus “Hold” rating.
• The company declared a quarterly dividend of $0.31 per share, representing a 1.8% yield, and authorized a buyback covering up to 11.1% of outstanding shares. Two directors also purchased Tennant shares in August.

Deutsche Bank AG bought a new position in shares of Tennant Company (NYSE:TNC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 18,690 shares of the industrial products company's stock, valued at approximately $1,636,000. Deutsche Bank AG owned approximately 0.11% of Tennant at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Hantz Financial Services Inc. boosted its position in shares of Tennant by 85.1% during the fourth quarter. Hantz Financial Services Inc. now owns 385 shares of the industrial products company's stock valued at $28,000 after buying an additional 177 shares during the last quarter. UMB Bank n.a. raised its position in Tennant by 1,778.6% in the 4th quarter. UMB Bank n.a. now owns 526 shares of the industrial products company's stock valued at $39,000 after buying an additional 498 shares during the last quarter. State of Wyoming purchased a new stake in Tennant in the 2nd quarter valued at $73,000. BNP Paribas Financial Markets lifted its stake in Tennant by 25.1% during the 2nd 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 in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Tennant by 40.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,492 shares of the industrial products company's stock worth $193,000 after acquiring an additional 722 shares during the last quarter. Institutional investors and hedge funds own 93.33% of the company's stock.

Tennant Price Performance

Shares of NYSE:TNC opened at $70.12 on Friday. The company's 50-day moving average is $80.98 and its 200 day moving average is $78.48. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.37 and a current ratio of 2.04. The company has a market capitalization of $1.20 billion, a P/E ratio of 68.75, a price-to-earnings-growth ratio of 2.60 and a beta of 1.13. Tennant Company has a fifty-two week low of $60.17 and a fifty-two week high of $91.93.

Tennant (NYSE:TNC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.50). The company had revenue of $324.00 million for the quarter, compared to the consensus estimate of $329.55 million. Tennant had a net margin of 1.50% and a return on equity of 13.32%. The company's quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.49 earnings per share. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. On average, equities research analysts forecast that Tennant Company will post 3.85 earnings per share for the current year.

Tennant Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, August 31st. Tennant's payout ratio is 121.57%.

Tennant announced that its board has authorized a stock buyback plan on Monday, May 4th that authorizes the company to buyback 2,000,000,000,000 outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 11.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

TNC has been the subject of several recent analyst reports. Wall Street Zen lowered shares of Tennant from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Zacks Research cut shares of Tennant from a "strong-buy" rating to a "strong sell" rating in a report on Monday, August 10th. Finally, Weiss Ratings raised shares of Tennant from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $91.00.

Insider Buying and Selling at Tennant

In other Tennant news, Director Timothy R. Morse bought 1,500 shares of Tennant stock in a transaction that occurred on Wednesday, August 12th. The stock was acquired at an average cost of $68.18 per share, for a total transaction of $102,270.00. Following the completion of the transaction, the director directly owned 10,614 shares in the company, valued at $723,662.52. This represents a 16.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Donal L. Mulligan purchased 8,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was acquired at an average cost of $67.34 per share, for a total transaction of $538,720.00. Following the acquisition, the director owned 16,000 shares in the company, valued at approximately $1,077,440. This represents a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate 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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