Gabelli Funds LLC Increases Holdings in Tennant Company $TNC

Gabelli Funds LLC grew its holdings in shares of Tennant Company (NYSE:TNC) by 11.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 199,700 shares of the industrial products company’s stock after acquiring an additional 20,808 shares during the quarter. Gabelli Funds LLC owned 1.17% of Tennant worth $13,260,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Royal Bank of Canada increased its position in shares of Tennant by 23.0% in the first quarter. Royal Bank of Canada now owns 4,563 shares of the industrial products company’s stock valued at $364,000 after acquiring an additional 854 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Tennant by 68.8% during the first quarter. AQR Capital Management LLC now owns 49,724 shares of the industrial products company’s stock worth $3,966,000 after purchasing an additional 20,275 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Tennant by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,271 shares of the industrial products company’s stock worth $899,000 after purchasing an additional 491 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Tennant by 17.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 56,214 shares of the industrial products company’s stock worth $4,483,000 after purchasing an additional 8,421 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in Tennant by 39.1% during the 1st quarter. Jane Street Group LLC now owns 38,911 shares of the industrial products company’s stock valued at $3,103,000 after purchasing an additional 10,946 shares during the period. 93.33% of the stock is currently owned by institutional investors.

Tennant Price Performance

TNC opened at $87.87 on Monday. The stock has a 50-day moving average price of $86.42 and a 200-day moving average price of $79.09. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.12 and a quick ratio of 1.41. The firm has a market cap of $1.50 billion, a PE ratio of 52.94, a P/E/G ratio of 2.45 and a beta of 1.12. Tennant Company has a 1 year low of $60.17 and a 1 year high of $91.93.

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

Tennant declared that its Board of Directors has approved a share buyback program 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 reacquire up to 11.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Tennant Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TNC shares. Zacks Research raised shares of Tennant from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 26th. Wall Street Zen raised shares of Tennant from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings raised shares of Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 5th. One research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.00.

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.