Tennant Company $TNC Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp raised its position in Tennant Company (NYSE:TNC) by 120,604.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,555 shares of the industrial products company’s stock after buying an additional 26,533 shares during the period. Fifth Third Bancorp owned about 0.15% of Tennant worth $1,763,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Tennant by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 585,022 shares of the industrial products company’s stock valued at $43,116,000 after acquiring an additional 6,760 shares during the period. Gamco Investors INC. ET AL boosted its position in Tennant by 0.6% during the fourth quarter. Gamco Investors INC. ET AL now owns 502,598 shares of the industrial products company’s stock worth $37,041,000 after purchasing an additional 2,803 shares in the last quarter. Millennium Management LLC boosted its position in Tennant by 33.8% during the fourth 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 in the last quarter. Vision One Management Partners LP grew its holdings in Tennant by 18.1% in the fourth quarter. Vision One Management Partners LP now owns 344,585 shares of the industrial products company’s stock valued at $25,396,000 after purchasing an additional 52,721 shares during the period. Finally, Invenomic Capital Management LP grew its holdings in Tennant by 0.4% in the fourth quarter. Invenomic Capital Management LP now owns 331,174 shares of the industrial products company’s stock valued at $24,408,000 after purchasing an additional 1,259 shares during the period. Institutional investors and hedge funds own 93.33% of the company’s stock.

Tennant Price Performance

Shares of Tennant stock opened at $86.37 on Thursday. The stock has a market capitalization of $1.47 billion, a P/E ratio of 52.03, a PEG ratio of 2.42 and a beta of 1.12. The business has a 50 day simple moving average of $86.19 and a two-hundred day simple moving average of $78.91. Tennant Company has a 12 month low of $60.17 and a 12 month high of $91.93. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.12 and a quick ratio of 1.41.

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

Tennant Announces Dividend

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

Tennant announced that its Board of Directors has initiated 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 often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

TNC has been the subject of several research analyst reports. Weiss Ratings raised Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Zacks Research raised shares of Tennant from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen raised shares of Tennant from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.00.

Tennant Company 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.