Tennant (NYSE:TNC) Director Acquires 3,000 Shares of Stock

Key Points

• Director Patrick Allen purchased 3,000 Tennant shares at an average price of $69.42, investing $208,260 and increasing his ownership by 155.68% to 4,927 shares.
• Tennant shares traded at $66.28, near the lower end of their 52-week range, after the company reported quarterly EPS of $0.83—well below the $1.33 analyst consensus—while revenue rose 1.7% year over year.
• The company maintains a quarterly dividend of $0.31, but its 1.9% yield and 121.57% payout ratio contrast with cautious analyst sentiment: Tennant has an overall “Hold” rating and a $91 average price target.

Tennant Company (NYSE:TNC - Get Free Report) Director Patrick Allen bought 3,000 shares of the stock in a transaction that occurred 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 $342,032.34. This trade represents a 155.68% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Tennant Price Performance

TNC traded down $0.45 during midday trading on Wednesday, reaching $66.28. 147,403 shares of the company's stock were exchanged, compared to its average volume of 220,566. The company has a quick ratio of 1.37, a current ratio of 2.04 and a debt-to-equity ratio of 0.67. The business has a 50-day simple moving average of $74.79 and a two-hundred day simple moving average of $77.87. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 64.98, a price-to-earnings-growth ratio of 2.45 and a beta of 1.11. Tennant Company has a one year low of $60.17 and a one year high of $91.93.

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

Tennant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Monday, August 31st. Tennant's payout ratio is currently 121.57%.

Institutional Investors Weigh In On Tennant

Hedge funds have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. lifted its stake 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 acquiring an additional 177 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Tennant in the second quarter worth about $39,000. Aristides Capital LLC acquired a new stake in Tennant in the fourth quarter worth about $201,000. Amundi bought a new stake in Tennant during the 2nd quarter worth about $247,000. Finally, Pictet Asset Management Holding SA bought a new stake in Tennant during the 1st quarter worth about $203,000. Institutional investors own 93.33% of the company's stock.

Wall Street Analyst Weigh In

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

Tennant Company Profile

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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