Louisiana State Employees Retirement System Invests $531,000 in Tennant Company $TNC

Louisiana State Employees Retirement System purchased a new stake in Tennant Company (NYSE:TNC) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,000 shares of the industrial products company’s stock, valued at approximately $531,000.

A number of other large investors have also added to or reduced their stakes in TNC. Hantz Financial Services Inc. raised its holdings in Tennant by 85.1% in the 4th quarter. Hantz Financial Services Inc. now owns 385 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 177 shares in the last quarter. UMB Bank n.a. raised its stake in Tennant by 1,778.6% in the fourth quarter. UMB Bank n.a. now owns 526 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 498 shares in the last quarter. State of Wyoming bought a new stake in Tennant during the second quarter worth about $73,000. BNP Paribas Financial Markets lifted its position in Tennant by 25.1% during the second quarter. BNP Paribas Financial Markets now owns 1,936 shares of the industrial products company’s stock worth $150,000 after purchasing an additional 389 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in Tennant by 40.8% during the second quarter. Tower Research Capital LLC TRC now owns 2,492 shares of the industrial products company’s stock worth $193,000 after buying an additional 722 shares in the last quarter. Institutional investors and hedge funds own 93.33% of the company’s stock.

Tennant Stock Performance

Tennant stock opened at $86.70 on Wednesday. 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 stock has a market cap of $1.48 billion, a PE ratio of 52.23, a P/E/G ratio of 2.47 and a beta of 1.12. Tennant Company has a 12-month low of $60.17 and a 12-month high of $91.93. The business’s 50-day moving average price is $85.76 and its two-hundred day moving average price is $78.05.

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

Tennant declared that its Board of Directors has approved a share buyback plan on Monday, May 4th that permits the company to repurchase 2,000,000,000,000 shares. This repurchase authorization permits the industrial products company to purchase up to 11.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Tennant Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a $0.31 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.24 dividend on an annualized basis and a yield of 1.4%. Tennant’s dividend payout ratio (DPR) is currently 74.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Weiss Ratings raised 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 research report on Tuesday, May 26th. Finally, Wall Street Zen raised shares of Tennant from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.