Fifth Third Bancorp Raises Stock Position in Tennant Company $TNC

Fifth Third Bancorp raised its position in Tennant Company (NYSE:TNC) by 120,604.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,555 shares of the industrial products company’s stock after purchasing an additional 26,533 shares during the quarter. Fifth Third Bancorp’s holdings in Tennant were worth $1,763,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TNC. Hantz Financial Services Inc. raised its position in shares of Tennant by 85.1% during the 4th quarter. Hantz Financial Services Inc. now owns 385 shares of the industrial products company’s stock valued at $28,000 after buying an additional 177 shares during the period. UMB Bank n.a. raised its position 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 during the period. State of Wyoming purchased a new stake in Tennant in the second quarter valued at $73,000. BNP Paribas Financial Markets lifted its stake in shares of Tennant by 25.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,936 shares of the industrial products company’s stock valued at $150,000 after purchasing an additional 389 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Tennant by 40.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,492 shares of the industrial products company’s stock valued at $193,000 after purchasing an additional 722 shares during the last quarter. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Tennant Trading Down 0.2%

TNC opened at $86.37 on Thursday. Tennant Company has a 52 week low of $60.17 and a 52 week high of $91.93. 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 business has a fifty day simple moving average of $86.19 and a 200-day simple moving average of $78.91. The firm has a market cap of $1.47 billion, a P/E ratio of 52.03, a P/E/G ratio of 2.42 and a beta of 1.12.

Tennant (NYSE:TNC) last posted 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. Tennant had a return on equity of 14.87% and a net margin of 2.55%.The firm 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 EPS. Tennant’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. On average, equities analysts expect that Tennant Company will post 5.12 earnings per share for the current year.

Tennant Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders 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 yield of 1.4%. Tennant’s dividend payout ratio is 74.70%.

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

Analyst Ratings Changes

TNC has been the subject of a number of recent analyst reports. Wall Street Zen raised Tennant from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings raised shares of Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Finally, Zacks Research upgraded shares of Tennant from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Tennant currently has an average rating of “Moderate Buy” and a consensus 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.