American Century Companies Inc. Increases Holdings in Tennant Company $TNC

American Century Companies Inc. increased its position in Tennant Company (NYSE:TNC) by 54.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 343,614 shares of the industrial products company’s stock after buying an additional 120,793 shares during the quarter. American Century Companies Inc.’s holdings in Tennant were worth $26,623,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TNC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Tennant by 6.0% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,789 shares of the industrial products company’s stock worth $371,000 after acquiring an additional 273 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in Tennant by 8.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,451 shares of the industrial products company’s stock worth $345,000 after purchasing an additional 355 shares during the period. Cresset Asset Management LLC lifted its stake in Tennant by 12.1% in the first quarter. Cresset Asset Management LLC now owns 3,372 shares of the industrial products company’s stock worth $269,000 after purchasing an additional 365 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Tennant by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,271 shares of the industrial products company’s stock valued at $899,000 after buying an additional 491 shares during the period. Finally, Dorsey & Whitney Trust CO LLC boosted its position in Tennant by 0.9% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 56,470 shares of the industrial products company’s stock valued at $4,503,000 after buying an additional 495 shares during the period. 93.33% of the stock is currently owned by institutional investors.

Tennant Trading Down 0.9%

TNC opened at $73.13 on Monday. Tennant Company has a one year low of $67.32 and a one year high of $90.44. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.09 and a quick ratio of 1.38. The business has a 50 day simple moving average of $77.67 and a two-hundred day simple moving average of $78.85. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 1.74 and a beta of 1.07.

Tennant (NYSE:TNC) last posted its earnings results 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 analysts’ expectations of $306.90 million. Tennant had a net margin of 4.84% and a return on equity of 16.41%. Tennant’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period last year, the firm posted $1.39 earnings per share. Tennant has set its FY 2025 guidance at 5.700-6.200 EPS. Analysts predict 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. Shareholders of record on Friday, November 28th will be issued a $0.31 dividend. This is a boost from Tennant’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, November 28th. This represents a $1.24 annualized dividend and a yield of 1.7%. Tennant’s dividend payout ratio (DPR) is currently 42.47%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wall Street Zen upgraded Tennant from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Roth Capital began coverage on Tennant in a research note on Friday, October 24th. They issued a “buy” rating and a $102.00 price target on the stock. Zacks Research raised Tennant to a “hold” rating in a research note on Tuesday, August 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tennant in a report on Monday, November 24th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Tennant currently has a consensus rating of “Moderate Buy” and an average price target of $113.50.

About Tennant

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.