7,063 Shares in Tennant Company $TNC Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new stake in Tennant Company (NYSE:TNC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 7,063 shares of the industrial products company’s stock, valued at approximately $618,000.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Tennant during the second quarter worth $236,255,000. Gamco Investors INC. ET AL grew its stake in Tennant by 40.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 706,400 shares of the industrial products company’s stock worth $46,905,000 after purchasing an additional 203,802 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Tennant by 8.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 634,158 shares of the industrial products company’s stock worth $42,106,000 after purchasing an additional 49,136 shares in the last quarter. Millennium Management LLC increased its holdings in Tennant by 33.8% during the 4th quarter. Millennium Management LLC now owns 358,452 shares of the industrial products company’s stock worth $26,418,000 after purchasing an additional 90,611 shares during the period. Finally, Vision One Management Partners LP increased its holdings in Tennant by 18.1% during the 4th quarter. Vision One Management Partners LP now owns 344,585 shares of the industrial products company’s stock worth $25,396,000 after purchasing an additional 52,721 shares during the period. Institutional investors and hedge funds own 93.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on TNC. Weiss Ratings raised Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Zacks Research lowered shares of Tennant from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, August 10th. Finally, Wall Street Zen cut 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 assigned a Sell rating to the company. According to MarketBeat.com, Tennant presently has a consensus rating of “Hold” and an average target price of $91.00.

Insider Buying and Selling at Tennant

In other news, Director Timothy Morse acquired 1,500 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were bought at an average price of $68.18 per share, with a total value 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 trade represents a 16.46% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Donal Mulligan bought 8,000 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were purchased at an average price of $67.34 per share, for a total transaction of $538,720.00. Following the transaction, the director directly owned 16,000 shares of the company’s stock, valued at approximately $1,077,440. This represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 3.50% of the company’s stock.

Tennant Trading Down 0.3%

NYSE:TNC opened at $71.74 on Monday. Tennant Company has a 1 year low of $60.17 and a 1 year high of $91.93. The stock has a market cap of $1.22 billion, a P/E ratio of 70.33, a P/E/G ratio of 2.67 and a beta of 1.11. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.37 and a current ratio of 2.04. The stock has a 50-day simple moving average of $79.01 and a 200-day simple moving average of $78.04.

Tennant (NYSE:TNC) last posted its earnings results on Wednesday, August 5th. The industrial products company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.50). The business had revenue of $324.00 million for the quarter, compared to analysts’ expectations of $329.55 million. Tennant had a return on equity of 13.32% and a net margin of 1.50%.Tennant’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.49 EPS. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. As a group, analysts anticipate that Tennant Company will post 3.85 earnings per share for the current fiscal year.

Tennant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, August 31st. Tennant’s dividend payout ratio is currently 121.57%.

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.