Dorsey & Whitney Trust CO LLC Lowers Stake in Tennant Company $TNC

Dorsey & Whitney Trust CO LLC cut its position in shares of Tennant Company (NYSE:TNC) by 12.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,762 shares of the industrial products company’s stock after selling 7,250 shares during the quarter. Dorsey & Whitney Trust CO LLC owned approximately 0.27% of Tennant worth $3,667,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TNC. Vision One Management Partners LP grew its holdings in shares of Tennant by 63.1% during the third quarter. Vision One Management Partners LP now owns 291,864 shares of the industrial products company’s stock worth $23,212,000 after buying an additional 112,873 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Tennant by 26.6% during the third quarter. American Century Companies Inc. now owns 434,996 shares of the industrial products company’s stock worth $35,261,000 after buying an additional 91,382 shares in the last quarter. Kopion Asset Management LLC grew its holdings in shares of Tennant by 40.6% during the fourth quarter. Kopion Asset Management LLC now owns 123,037 shares of the industrial products company’s stock worth $9,068,000 after buying an additional 35,531 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Tennant by 34.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 130,175 shares of the industrial products company’s stock worth $9,594,000 after buying an additional 33,491 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Tennant by 507.4% during the second quarter. Sei Investments Co. now owns 34,809 shares of the industrial products company’s stock worth $2,697,000 after buying an additional 29,078 shares in the last quarter. 93.33% of the stock is currently owned by hedge funds and other institutional investors.

Tennant Price Performance

TNC opened at $86.02 on Thursday. The company has a quick ratio of 1.41, a current ratio of 2.12 and a debt-to-equity ratio of 0.67. Tennant Company has a 52-week low of $60.17 and a 52-week high of $88.86. The company has a 50 day moving average of $81.08 and a two-hundred day moving average of $76.19. The company has a market cap of $1.47 billion, a P/E ratio of 51.82, a P/E/G ratio of 2.42 and a beta of 1.12.

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

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

Tennant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be given 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 1.4%. Tennant’s dividend payout ratio (DPR) is 74.70%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TNC shares. Freedom Capital downgraded shares of Tennant from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Roth Mkm restated a “buy” rating and issued a $91.00 target price (down from $107.00) on shares of Tennant in a report on Wednesday, February 25th. Weiss Ratings upgraded shares of Tennant from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. Zacks Research upgraded shares of Tennant from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 26th. Finally, Wall Street Zen upgraded 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 issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.