Brown Advisory Inc. Lowers Stake in Tennant Company $TNC

Brown Advisory Inc. lessened its stake in Tennant Company (NYSE:TNC) by 6.3% in the 2nd quarter, Holdings Channel reports. The firm owned 532,585 shares of the industrial products company’s stock after selling 35,553 shares during the period. Brown Advisory Inc.’s holdings in Tennant were worth $41,265,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in TNC. Banque Transatlantique SA acquired a new stake 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. AlphaQuest LLC grew its position in Tennant by 108,150.0% in the 2nd quarter. AlphaQuest LLC now owns 2,165 shares of the industrial products company’s stock valued at $168,000 after acquiring an additional 2,163 shares in the last quarter. Savant Capital LLC purchased a new stake in Tennant during the second quarter worth about $228,000. Finally, Semanteon Capital Management LP purchased a new stake in Tennant during the second quarter worth about $248,000. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Tennant Trading Up 0.2%

NYSE TNC opened at $74.40 on Friday. Tennant Company has a 52 week low of $67.32 and a 52 week high of $90.44. The firm has a 50 day moving average of $76.94 and a two-hundred day moving average of $78.73. The company has a quick ratio of 1.39, a current ratio of 2.13 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $1.35 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 1.62 and a beta of 1.06.

Tennant (NYSE:TNC) last announced its quarterly earnings data on Monday, November 3rd. The industrial products company reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.03). The firm had revenue of $303.30 million during the quarter, compared to analyst estimates of $306.90 million. Tennant had a net margin of 4.42% and a return on equity of 16.55%. Tennant’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.39 earnings per share. Tennant has set its FY 2025 guidance at 5.700-6.200 EPS. As a group, research analysts expect that Tennant Company will post 5.89 EPS for the current fiscal year.

Tennant Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on TNC shares. Wall Street Zen raised shares of Tennant from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Roth Capital assumed coverage on shares of Tennant in a research report on Friday, October 24th. They issued a “buy” rating and a $102.00 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of Tennant in a research note on Monday, December 1st. Finally, Zacks Research upgraded 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’s stock. According to data from MarketBeat.com, Tennant presently has a consensus rating of “Moderate Buy” and an average target price of $113.50.

Tennant Company 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.