OP Asset Management Ltd Buys Shares of 29,688 Tennant Company $TNC

Key Points

• OP Asset Management Ltd opened a new position in Tennant Company in the first quarter, buying 29,688 shares valued at about $1.97 million. The stake represented roughly 0.16% of the company.
• Tennant reported better-than-expected quarterly results, posting EPS of $0.58 versus $0.40 expected and revenue of $297.9 million, up 2.7% year over year. The company also provided FY 2026 EPS guidance of $4.70 to $5.30.
• The board authorized a large share buyback and the company recently paid a quarterly dividend of $0.31 per share, equal to a 1.4% annualized yield. Analysts currently rate the stock a Moderate Buy with a consensus target price of $91.00.

OP Asset Management Ltd bought a new position in shares of Tennant Company (NYSE:TNC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 29,688 shares of the industrial products company's stock, valued at approximately $1,971,000. OP Asset Management Ltd owned approximately 0.16% of Tennant at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vision One Management Partners LP boosted its stake in shares of Tennant by 63.1% in the 3rd quarter. Vision One Management Partners LP now owns 291,864 shares of the industrial products company's stock valued at $23,212,000 after purchasing an additional 112,873 shares in the last quarter. American Century Companies Inc. lifted its stake in Tennant by 26.6% in the 3rd quarter. American Century Companies Inc. now owns 434,996 shares of the industrial products company's stock valued at $35,261,000 after purchasing an additional 91,382 shares during the last quarter. Millennium Management LLC boosted its position in Tennant by 33.8% in the fourth quarter. Millennium Management LLC now owns 358,452 shares of the industrial products company's stock valued at $26,418,000 after buying an additional 90,611 shares in the last quarter. Jane Street Group LLC boosted its position in Tennant by 158.4% in the fourth quarter. Jane Street Group LLC now owns 94,461 shares of the industrial products company's stock valued at $6,962,000 after buying an additional 57,907 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Tennant by 116.3% during the fourth quarter. Renaissance Technologies LLC now owns 76,900 shares of the industrial products company's stock worth $5,668,000 after buying an additional 41,342 shares during the last quarter. Institutional investors own 93.33% of the company's stock.

Tennant Trading Down 0.5%

TNC opened at $90.72 on Monday. Tennant Company has a fifty-two week low of $60.17 and a fifty-two week high of $91.93. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.12 and a quick ratio of 1.41. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 54.65, a PEG ratio of 2.54 and a beta of 1.12. The company's 50 day moving average price is $84.69 and its two-hundred day moving average price is $77.50.

Tennant (NYSE:TNC - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.18. Tennant had a net margin of 2.55% and a return on equity of 14.87%. The firm had revenue of $297.90 million during the quarter, compared to the consensus estimate of $289.25 million. During the same quarter last year, the firm earned $1.12 earnings per share. The company's revenue for the quarter was up 2.7% on a year-over-year basis. Tennant has set its FY 2026 guidance at 4.700-5.300 EPS. As a group, research analysts predict that Tennant Company will post 5.12 earnings per share for the current year.

Tennant announced that its board has authorized a stock buyback program on Monday, May 4th that permits the company to buyback 2,000,000,000,000 shares. This buyback authorization permits 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 stock is undervalued.

Tennant Announces Dividend

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

Analyst Ratings Changes

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

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