Gabelli Funds LLC Buys 20,808 Shares of Tennant Company $TNC

Gabelli Funds LLC grew its position in Tennant Company (NYSE:TNC) by 11.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 199,700 shares of the industrial products company’s stock after purchasing an additional 20,808 shares during the quarter. Gabelli Funds LLC’s holdings in Tennant were worth $13,260,000 as of its most recent SEC filing.

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

Tennant Stock Performance

Shares of NYSE TNC opened at $87.87 on Monday. The company has a 50 day simple moving average of $86.42 and a two-hundred day simple moving average of $79.09. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 52.94, a PEG ratio of 2.45 and a beta of 1.12. The company has a current ratio of 2.12, a quick ratio of 1.41 and a debt-to-equity ratio of 0.67. Tennant Company has a 12 month low of $60.17 and a 12 month high of $91.93.

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

Tennant declared that its board has authorized a share repurchase 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 buy up to 11.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Tennant Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend 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%.

Wall Street Analysts Forecast Growth

Several analysts have commented on TNC shares. Zacks Research raised shares of Tennant from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 26th. Weiss Ratings raised shares of Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Finally, Wall Street Zen upgraded shares of Tennant from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One 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 stock. Based on data from MarketBeat, the company presently has a consensus 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.