Tennant Company $TNC Shares Purchased by ProShare Advisors LLC

Key Points

• ProShare Advisors increased its Tennant stake by 48% in the third quarter, ending the period with 116,517 shares valued at about $7.8 million. Institutional investors collectively own 93.33% of the company.
• Tennant’s Q3 earnings beat expectations at $1.40 per share versus $0.98 forecast, while revenue grew 6.3% year over year but fell short of estimates at $322.3 million.
• The company raised its quarterly dividend 4.8% to $0.325 per share. Analysts’ consensus rating is Hold, with an average price target of $91.

ProShare Advisors LLC lifted its holdings in Tennant Company (NYSE:TNC - Free Report) by 48.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 116,517 shares of the industrial products company's stock after purchasing an additional 37,807 shares during the period. ProShare Advisors LLC owned about 0.68% of Tennant worth $7,832,000 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 TNC. Bank of America Corp DE bought a new position in Tennant in the second quarter worth approximately $6,178,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Tennant in the second quarter worth approximately $2,950,000. Gabelli Funds LLC increased its stake in Tennant by 11.6% in the 1st quarter. Gabelli Funds LLC now owns 199,700 shares of the industrial products company's stock worth $13,260,000 after buying an additional 20,808 shares in the last quarter. WINTON GROUP Ltd lifted its position in shares of Tennant by 181.7% in the second quarter. WINTON GROUP Ltd now owns 41,389 shares of the industrial products company's stock valued at $3,623,000 after acquiring an additional 26,697 shares in the last quarter. Finally, BlackRock Inc. bought a new position in shares of Tennant in the second quarter worth about $236,255,000. Hedge funds and other institutional investors own 93.33% of the company's stock.

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 shares were purchased at an average cost of $68.18 per share, for a total transaction of $102,270.00. Following the completion of the acquisition, the director owned 10,614 shares in the company, valued at $723,662.52. This represents a 16.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Donal Mulligan purchased 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The shares were acquired at an average cost of $67.34 per share, with a total value of $538,720.00. Following the completion of the purchase, the director directly owned 16,000 shares in the company, valued at $1,077,440. The trade was a 100.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 12,500 shares of company stock worth $849,250. 3.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Tennant News Summary

Here are the key news stories impacting Tennant this week:

• Positive Sentiment: Q3 EPS was $1.40, beating the $0.98 consensus estimate. The company also reported 6.3% year-over-year revenue growth. Tennant Q3 earnings flash
• Positive Sentiment: Management’s 2026 EPS guidance of $3.80–$4.45 has a midpoint above the $3.85 analyst consensus, although the bottom of the range is slightly below it. Revenue guidance of $1.3 billion is in line with expectations. TNC Q3 deep dive
• Positive Sentiment: Tennant raised its quarterly dividend 4.8%, from $0.31 to $0.325 per share, signaling continued commitment to shareholder returns. Tennant dividend increase
• Neutral Sentiment: Robotics momentum and progress on the ERP system were cited as drivers of margin recovery, but the available report summary does not quantify their expected financial contribution. TNC Q3 deep dive
• Negative Sentiment: Q3 revenue of $322.3 million came in below analysts’ $330.75 million estimate, tempering the strong EPS beat. Tennant misses Q3 revenue estimates

Tennant Trading Up 1.3%

Shares of TNC opened at $73.13 on Thursday. Tennant Company has a twelve month low of $60.17 and a twelve month high of $91.93. The company has a market cap of $1.25 billion, a P/E ratio of 54.58, a P/E/G ratio of 2.61 and a beta of 1.14. The company has a current ratio of 2.18, a quick ratio of 1.37 and a debt-to-equity ratio of 0.65. The company's fifty day simple moving average is $67.84 and its 200-day simple moving average is $75.82.

Tennant (NYSE:TNC - Get Free Report) last issued its quarterly earnings results on Monday, November 2nd. The industrial products company reported $1.40 EPS for the quarter, beating the consensus estimate of $0.98 by $0.42. Tennant had a net margin of 1.85% and a return on equity of 13.30%. The company had revenue of $322.30 million for the quarter, compared to the consensus estimate of $330.75 million. During the same period in the prior year, the firm posted $1.46 EPS. The firm's revenue was up 6.3% compared to the same quarter last year. As a group, analysts expect that Tennant Company will post 3.95 EPS for the current year.

Tennant Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be paid a dividend of $0.3250 per share. This is a positive change from Tennant's previous quarterly dividend of $0.31. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, November 30th. Tennant's payout ratio is currently 121.57%.

Tennant Company Profile

Tennant Company is a manufacturer of cleaning equipment and technologies for commercial, industrial and institutional customers. Its product portfolio includes floor scrubbers, sweepers, combination machines, carpet extractors, outdoor cleaning equipment and related vacuum systems. The company also offers cleaning solutions, replacement parts, maintenance programs and other services designed to support facility-management operations.

Tennant develops technology aimed at improving cleaning efficiency and reducing environmental impact.

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