Brown Advisory Inc. Lowers Position in Tennant Company $TNC

Brown Advisory Inc. trimmed its stake in shares of Tennant Company (NYSE:TNC) by 12.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 453,728 shares of the industrial products company’s stock after selling 62,699 shares during the quarter. Brown Advisory Inc.’s holdings in Tennant were worth $33,440,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Comerica Bank boosted its position in shares of Tennant by 1.2% during the third quarter. Comerica Bank now owns 12,290 shares of the industrial products company’s stock valued at $996,000 after purchasing an additional 144 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Tennant by 2.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 6,115 shares of the industrial products company’s stock valued at $451,000 after purchasing an additional 148 shares during the period. Hantz Financial Services Inc. boosted its stake in shares of Tennant by 85.1% in the fourth quarter. Hantz Financial Services Inc. now owns 385 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 177 shares during the period. Swiss National Bank lifted its position in shares of Tennant by 0.6% in the third quarter. Swiss National Bank now owns 34,300 shares of the industrial products company’s stock worth $2,780,000 after buying an additional 200 shares in the last quarter. Finally, First Affirmative Financial Network lifted its position in shares of Tennant by 7.2% in the third quarter. First Affirmative Financial Network now owns 3,270 shares of the industrial products company’s stock worth $265,000 after buying an additional 220 shares in the last quarter. 93.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wall Street Zen raised Tennant from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Roth Mkm restated a “buy” rating and issued a $91.00 target price (down from $107.00) on shares of Tennant in a research note on Wednesday, February 25th. Freedom Capital lowered Tennant from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Weiss Ratings upgraded Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Finally, Zacks Research upgraded Tennant from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.00.

Tennant Stock Down 0.3%

Shares of NYSE TNC opened at $86.60 on Tuesday. Tennant Company has a 52-week low of $60.17 and a 52-week high of $88.86. The business’s 50 day moving average is $82.20 and its two-hundred day moving average is $76.50. The company has a quick ratio of 1.41, a current ratio of 2.12 and a debt-to-equity ratio of 0.67. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 52.17, a PEG ratio of 2.42 and a beta of 1.12.

Tennant (NYSE:TNC) last posted its quarterly earnings data on Monday, May 4th. The industrial products company reported $0.58 earnings per share for the quarter, topping 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 analyst estimates of $289.25 million. During the same quarter in the prior year, the company earned $1.12 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. Tennant has set its FY 2026 guidance at 4.700-5.300 EPS. Research analysts predict that Tennant Company will post 5.12 EPS for the current year.

Tennant announced that its Board of Directors has authorized a stock repurchase program on Monday, May 4th that allows the company to buyback 2,000,000,000,000 shares. This buyback authorization allows the industrial products company to buy up to 11.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Tennant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a dividend of $0.31 per share. 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 presently 74.70%.

Tennant Company 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.