VIRGINIA RETIREMENT SYSTEMS ET Al Sells 17,200 Shares of Tennant Company $TNC

Key Points

• Virginia Retirement Systems cut its Tennant stake by 51%, selling 17,200 shares in the third quarter and retaining 16,500 shares valued at about $1.1 million.
• Tennant reported third-quarter EPS of $1.40, beating the $0.98 consensus, while revenue rose 6.3% year over year to $322.3 million but missed estimates of $330.75 million.
• Tennant raised its quarterly dividend 4.8%, from $0.31 to $0.325 per share, equivalent to an annualized $1.30 and a 1.8% yield.

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its holdings in shares of Tennant Company (NYSE:TNC - Free Report) by 51.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,500 shares of the industrial products company's stock after selling 17,200 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.10% of Tennant worth $1,109,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Versant Capital Management Inc raised its position in Tennant by 44.0% in the third quarter. Versant Capital Management Inc now owns 579 shares of the industrial products company's stock worth $39,000 after purchasing an additional 177 shares in the last quarter. Aristides Capital LLC boosted its holdings in Tennant by 12.9% during the first quarter. Aristides Capital LLC now owns 3,079 shares of the industrial products company's stock valued at $204,000 after purchasing an additional 352 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Tennant by 64.7% during the third quarter. Farther Finance Advisors LLC now owns 947 shares of the industrial products company's stock valued at $64,000 after purchasing an additional 372 shares in the last quarter. Pinnacle Wealth Planning Services Inc. grew its stake in shares of Tennant by 1,683.3% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 428 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 404 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Tennant in the 2nd quarter valued at approximately $39,000. Institutional investors own 93.33% of the company's stock.

Trending Headlines about Tennant

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 stock opened at $73.13 on Thursday. Tennant Company has a 12-month low of $60.17 and a 12-month high of $91.93. The company has a market capitalization of $1.25 billion, a P/E ratio of 17.18, a P/E/G ratio of 2.61 and a beta of 1.14. The firm has a 50-day moving average price of $67.84 and a 200 day moving average price of $75.82. The company has a quick ratio of 1.37, a current ratio of 2.18 and a debt-to-equity ratio of 0.65.

Tennant (NYSE:TNC - Get Free Report) last released its quarterly earnings results on Monday, November 2nd. The industrial products company reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.42. The firm had revenue of $322.30 million for the quarter, compared to analyst estimates of $330.75 million. Tennant had a net margin of 1.85% and a return on equity of 13.30%. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 earnings per share. Research analysts forecast that Tennant Company will post 3.95 earnings per share for the current fiscal 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 issued a $0.3250 dividend. This represents a $1.30 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, November 30th. This is an increase from Tennant's previous quarterly dividend of $0.31. Tennant's dividend payout ratio (DPR) is presently 121.57%.

Insider Buying and Selling

In other Tennant news, Director Donal L. Mulligan acquired 8,000 shares of the business's stock in a transaction on Wednesday, August 12th. The stock was purchased at an average price of $67.34 per share, for a total transaction of $538,720.00. Following the transaction, the director owned 16,000 shares in the company, valued at $1,077,440. This trade represents a 100.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick E. Allen acquired 3,000 shares of Tennant stock in a transaction on Monday, August 31st. The stock was acquired at an average cost of $69.42 per share, for a total transaction of $208,260.00. Following the purchase, the director owned 4,927 shares of the company's stock, valued at approximately $342,032.34. This represents a 155.68% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 12,500 shares of company stock worth $849,250 in the last three months. Insiders own 3.50% of the company's stock.

Wall Street Analyst Weigh In

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

About Tennant

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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