Bailard Inc. Buys Shares of 8,400 Tennant Company $TNC

Bailard Inc. purchased a new position in Tennant Company (NYSE:TNC) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 8,400 shares of the industrial products company’s stock, valued at approximately $651,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Banque Transatlantique SA purchased a new position in shares of Tennant in the first quarter valued at $59,000. Alta Fox Capital Management LLC purchased a new position in Tennant during the 1st quarter valued at about $73,000. CWM LLC raised its position in Tennant by 137.0% during the first quarter. CWM LLC now owns 1,519 shares of the industrial products company’s stock worth $121,000 after acquiring an additional 878 shares during the last quarter. AlphaQuest LLC lifted its holdings in shares of Tennant by 108,150.0% in the second quarter. AlphaQuest LLC now owns 2,165 shares of the industrial products company’s stock valued at $168,000 after purchasing an additional 2,163 shares in the last quarter. Finally, Savant Capital LLC acquired a new stake in shares of Tennant in the second quarter valued at approximately $228,000. 93.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TNC shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tennant in a research note on Tuesday. Roth Capital initiated coverage on Tennant in a report on Friday, October 24th. They issued a “buy” rating and a $102.00 price target for the company. Wall Street Zen upgraded Tennant from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Finally, Zacks Research raised Tennant to a “hold” rating in a research note on Tuesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Tennant has an average rating of “Moderate Buy” and an average target price of $113.50.

Tennant Stock Down 2.1%

TNC stock opened at $72.03 on Friday. The company has a 50 day moving average price of $79.66 and a two-hundred day moving average price of $78.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.38 and a current ratio of 2.09. The stock has a market capitalization of $1.31 billion, a P/E ratio of 22.44, a PEG ratio of 1.74 and a beta of 1.07. Tennant Company has a one year low of $67.32 and a one year high of $93.03.

Tennant (NYSE:TNC) last posted its quarterly earnings data on Monday, November 3rd. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.03). The business had revenue of $303.30 million for the quarter, compared to analyst estimates of $306.90 million. Tennant had a return on equity of 16.41% and a net margin of 4.84%.Tennant’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.39 EPS. Tennant has set its FY 2025 guidance at 5.700-6.200 EPS. As a group, sell-side analysts expect that Tennant Company will post 5.89 EPS for the current year.

Tennant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, November 28th. This is an increase from Tennant’s previous quarterly dividend of $0.30. Tennant’s payout ratio is currently 42.47%.

Tennant Profile

Tennant Company, together with its subsidiaries, designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers a suite of products, including floor maintenance and cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, and asset management solutions.