Squarepoint Ops LLC Sells 50,463 Shares of Tennant Company $TNC

Key Points

• Squarepoint Ops LLC cut its Tennant holdings by 77.3% in the second quarter, selling 50,463 shares and retaining 14,818 shares worth approximately $1.3 million. Institutional investors collectively own 93.33% of the company.
• Tennant’s latest quarterly results fell short of expectations, with adjusted EPS of $0.83 versus the $1.33 consensus estimate and revenue of $324 million versus $329.55 million expected. The company issued fiscal 2026 EPS guidance of $3.80–$4.45.
• Analyst sentiment has weakened, with recent downgrades leaving Tennant with a consensus “Hold” rating and an average price target of $91. The company continues to pay a quarterly dividend of $0.31 per share, although its payout ratio is elevated at 121.57%.

Squarepoint Ops LLC trimmed its holdings in Tennant Company (NYSE:TNC - Free Report) by 77.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,818 shares of the industrial products company's stock after selling 50,463 shares during the quarter. Squarepoint Ops LLC owned approximately 0.09% of Tennant worth $1,297,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TNC. BlackRock Inc. bought a new position in Tennant in the 2nd quarter valued at $236,255,000. Gamco Investors INC. ET AL lifted its position in shares of Tennant by 40.5% during the first quarter. Gamco Investors INC. ET AL now owns 706,400 shares of the industrial products company's stock worth $46,905,000 after purchasing an additional 203,802 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Tennant by 8.4% during the first quarter. Dimensional Fund Advisors LP now owns 634,158 shares of the industrial products company's stock worth $42,106,000 after purchasing an additional 49,136 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Tennant by 27.3% during the first quarter. Bank of New York Mellon Corp now owns 333,187 shares of the industrial products company's stock valued at $22,124,000 after purchasing an additional 71,437 shares during the period. Finally, Invenomic Capital Management LP boosted its stake in shares of Tennant by 0.4% during the fourth quarter. Invenomic Capital Management LP now owns 331,174 shares of the industrial products company's stock valued at $24,408,000 after purchasing an additional 1,259 shares during the period. 93.33% of the stock is owned by institutional investors.

Tennant Price Performance

Shares of TNC stock opened at $67.85 on Thursday. Tennant Company has a twelve month low of $60.17 and a twelve month high of $91.93. The company has a current ratio of 2.04, a quick ratio of 1.37 and a debt-to-equity ratio of 0.67. The stock has a fifty day simple moving average of $76.27 and a two-hundred day simple moving average of $77.72. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 66.52, a P/E/G ratio of 2.55 and a beta of 1.11.

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

Tennant Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $1.24 dividend on an annualized basis and a yield of 1.8%. Tennant's dividend payout ratio (DPR) is 121.57%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Zacks Research downgraded shares of Tennant from a "strong-buy" rating to a "strong sell" rating in a research note on Monday, August 10th. Weiss Ratings cut shares of Tennant from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, September 11th. Finally, Wall Street Zen downgraded shares of Tennant from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $91.00.

Insider Transactions at Tennant

In other Tennant news, Director Timothy Morse purchased 1,500 shares of Tennant stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average price of $68.18 per share, for a total transaction of $102,270.00. Following the acquisition, the director owned 10,614 shares in the company, valued at $723,662.52. This trade represents a 16.46% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Donal Mulligan purchased 8,000 shares of the stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average cost of $67.34 per share, with a total value of $538,720.00. Following the transaction, the director directly owned 16,000 shares in the company, valued at approximately $1,077,440. This trade represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 3.50% of the company's stock.

About Tennant

Tennant Company is a manufacturer of cleaning equipment and related solutions for commercial, industrial and institutional customers. Its product portfolio includes industrial floor scrubbers, sweepers, outdoor cleaning equipment, and compact machines designed for a range of facility sizes and cleaning requirements.

The company also provides autonomous cleaning machines, cleaning chemicals, replacement parts, service and maintenance programs, and technology-enabled solutions intended to improve cleaning productivity and facility operations.

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