Bailard Inc. Invests $458,000 in Tennant Company $TNC

Bailard Inc. bought a new position in Tennant Company (NYSE:TNC) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 6,217 shares of the industrial products company’s stock, valued at approximately $458,000.

A number of other large investors also recently bought and sold shares of the business. Olstein Capital Management L.P. lifted its position in Tennant by 11.6% during the 4th quarter. Olstein Capital Management L.P. now owns 13,000 shares of the industrial products company’s stock valued at $958,000 after acquiring an additional 1,350 shares during the period. Skylands Capital LLC purchased a new position in Tennant during the 4th quarter valued at about $560,000. Comerica Bank lifted its position in Tennant by 106.5% during the 4th quarter. Comerica Bank now owns 25,379 shares of the industrial products company’s stock valued at $1,870,000 after acquiring an additional 13,089 shares during the period. Teacher Retirement System of Texas lifted its position in Tennant by 27.4% during the 4th quarter. Teacher Retirement System of Texas now owns 75,114 shares of the industrial products company’s stock valued at $5,536,000 after acquiring an additional 16,142 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Tennant by 86.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 24,800 shares of the industrial products company’s stock valued at $1,835,000 after acquiring an additional 11,500 shares during the period. 93.33% of the stock is owned by hedge funds and other institutional investors.

Tennant Stock Up 0.3%

Shares of Tennant stock opened at $82.75 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.41 and a current ratio of 2.12. The stock has a market capitalization of $1.41 billion, a PE ratio of 49.85, a price-to-earnings-growth ratio of 2.30 and a beta of 1.12. Tennant Company has a 52-week low of $60.17 and a 52-week high of $88.86. The company has a 50-day simple moving average of $73.45 and a two-hundred day simple moving average of $74.93.

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

Tennant declared that its board has authorized a stock repurchase plan on Monday, May 4th that authorizes the company to buyback 2,000,000,000,000 shares. This buyback authorization authorizes the industrial products company to repurchase up to 11.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

Tennant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.24 annualized dividend and a yield of 1.5%. Tennant’s payout ratio is 74.70%.

Insiders Place Their Bets

In other news, Director Donal L. Mulligan bought 5,000 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was acquired at an average cost of $63.86 per share, with a total value of $319,300.00. Following the completion of the acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $319,300. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carol S. Eicher sold 3,130 shares of Tennant stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $61.98, for a total transaction of $193,997.40. Following the completion of the transaction, the director directly owned 28,836 shares of the company’s stock, valued at $1,787,255.28. This trade represents a 9.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders bought 20,163 shares of company stock valued at $1,261,674. 3.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TNC. Roth Mkm reissued a “buy” rating and set a $91.00 price target (down from $107.00) on shares of Tennant in a research report on Wednesday, February 25th. Zacks Research raised shares of Tennant from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Freedom Capital cut shares of Tennant from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 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 report on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $91.00.

Tennant 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.