Tennant (NYSE:TNC) Director Donal Mulligan Acquires 3,000 Shares

Tennant Company (NYSE:TNC) Director Donal Mulligan purchased 3,000 shares of Tennant stock in a transaction dated Friday, February 27th. The shares were acquired at an average cost of $61.61 per share, for a total transaction of $184,830.00. Following the transaction, the director directly owned 8,000 shares of the company’s stock, valued at approximately $492,880. This represents a 60.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Tennant Price Performance

Tennant stock opened at $60.98 on Tuesday. Tennant Company has a 52-week low of $60.17 and a 52-week high of $87.72. The company’s 50 day moving average is $76.84 and its two-hundred day moving average is $77.86. The company has a quick ratio of 1.37, a current ratio of 2.05 and a debt-to-equity ratio of 0.45. The firm has a market cap of $1.09 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 1.81 and a beta of 1.07.

Tennant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a dividend of $0.31 per share. The ex-dividend date is Friday, February 27th. This represents a $1.24 annualized dividend and a yield of 2.0%. Tennant’s dividend payout ratio is 52.99%.

Tennant News Roundup

Here are the key news stories impacting Tennant this week:

• Positive Sentiment: CEO David W. Huml purchased 4,000 shares at about $64.39 (increasing his stake ~6.25%), a show of insider confidence from the chief executive. CEO Form 4
• Positive Sentiment: Director Donal L. Mulligan bought a total of 8,000 shares across Feb. 26–27 (purchases at ~$63.86 and $61.61), a meaningful increase in his holdings. Director Form 4
• Positive Sentiment: Director James T. Glerum bought 8,163 shares at about $61.25, a large increase in his position that signals management-level buying. Director Form 4
• Neutral Sentiment: Research notes and Q1 earnings estimates are being circulated; analysts’ forecasts may influence short?term reaction but are routine. Analyst Estimates
• Neutral Sentiment: Feature pieces presenting a “bull case” for Tennant are available; useful for longer?term thesis but less likely to move stock immediately. Bull Case Article
• Negative Sentiment: Director David Windley sold 3,694 shares (~33% reduction of his holdings) at about $63.86, which could be read negatively by investors. Director Sale Form 4
• Negative Sentiment: Director Carol S. Eicher sold 3,130 shares at about $61.98 (a ~9.8% reduction), another insider sale that may weigh on sentiment. Director Sale Form 4
• Negative Sentiment: Multiple law firms (Kirby McInerney, Block & Leviton, Schall) announced investigations into possible securities?law claims related to Tennant’s recent quarterly results and guidance — a material legal overhang that likely pressured the stock. Kirby McInerney Alert
• Negative Sentiment: Block & Leviton announced a securities?fraud investigation encouraging affected investors to contact the firm, adding to legal risk and negative sentiment. Block & Leviton Notice
• Negative Sentiment: The Schall Law Firm also opened an investigation, reinforcing the narrative of potential liability after the company’s earnings/guidance update. Schall Law Firm Alert

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TNC shares. Wall Street Zen cut shares of Tennant from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of Tennant in a report on Monday, December 29th. Zacks Research cut shares of Tennant from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. Freedom Capital lowered Tennant from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Finally, Roth Mkm restated a “buy” rating and issued a $91.00 price target (down from $107.00) on shares of Tennant in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $91.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Corient Private Wealth LLC purchased a new position in Tennant during the 2nd quarter worth $1,213,000. Bank of New York Mellon Corp boosted its holdings in shares of Tennant by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 167,384 shares of the industrial products company’s stock valued at $12,969,000 after acquiring an additional 4,377 shares in the last quarter. Bailard Inc. acquired a new position in shares of Tennant during the second quarter worth about $651,000. River Road Asset Management LLC raised its holdings in Tennant by 131.0% during the second quarter. River Road Asset Management LLC now owns 240,167 shares of the industrial products company’s stock worth $19,823,000 after purchasing an additional 136,221 shares in the last quarter. Finally, QSV Equity Investors LLC purchased a new position in Tennant during the second quarter worth about $1,057,000. Institutional investors and hedge funds own 93.33% of the company’s stock.

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.