Inceptionr LLC Acquires Shares of 6,871 Tennant Company $TNC

Inceptionr LLC bought a new stake in shares of Tennant Company (NYSE:TNC) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,871 shares of the industrial products company’s stock, valued at approximately $456,000.

Other hedge funds also recently made changes to their positions in the company. Vision One Management Partners LP grew its position in Tennant by 63.1% during the third quarter. Vision One Management Partners LP now owns 291,864 shares of the industrial products company’s stock valued at $23,212,000 after buying an additional 112,873 shares during the period. Millennium Management LLC raised its position in Tennant by 33.8% in the fourth quarter. Millennium Management LLC now owns 358,452 shares of the industrial products company’s stock worth $26,418,000 after acquiring an additional 90,611 shares during the period. Bank of New York Mellon Corp raised its position in Tennant by 27.3% in the first quarter. Bank of New York Mellon Corp now owns 333,187 shares of the industrial products company’s stock worth $22,124,000 after acquiring an additional 71,437 shares during the period. Jane Street Group LLC raised its position in Tennant by 158.4% in the fourth quarter. Jane Street Group LLC now owns 94,461 shares of the industrial products company’s stock worth $6,962,000 after acquiring an additional 57,907 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Tennant by 8.4% in the first quarter. Dimensional Fund Advisors LP now owns 634,158 shares of the industrial products company’s stock valued at $42,106,000 after acquiring an additional 49,136 shares during the last quarter. 93.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on TNC. Zacks Research upgraded shares of Tennant from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. Weiss Ratings upgraded Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Finally, Wall Street Zen raised Tennant from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $91.00.

Tennant Price Performance

NYSE TNC opened at $87.87 on Monday. The company has a quick ratio of 1.41, a current ratio of 2.12 and a debt-to-equity ratio of 0.67. The company has a market cap of $1.50 billion, a PE ratio of 52.94, a price-to-earnings-growth ratio of 2.45 and a beta of 1.12. Tennant Company has a 52 week low of $60.17 and a 52 week high of $91.93. The firm’s 50-day simple moving average is $86.42 and its two-hundred day simple moving average is $79.09.

Tennant (NYSE:TNC) last posted its quarterly earnings results on Monday, May 4th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.18. The company had revenue of $297.90 million for the quarter, compared to analyst estimates of $289.25 million. Tennant had a net margin of 2.55% and a return on equity of 14.87%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.12 earnings per share. Tennant has set its FY 2026 guidance at 4.700-5.300 EPS. Research analysts predict that Tennant Company will post 5.12 earnings per share for the current year.

Tennant Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.24 dividend on an annualized basis and a yield of 1.4%. Tennant’s payout ratio is presently 74.70%.

Tennant declared that its Board of Directors has authorized a stock buyback plan on Monday, May 4th that authorizes the company to repurchase 2,000,000,000,000 shares. This repurchase authorization authorizes the industrial products company to repurchase up to 11.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Tennant Profile

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.