Legato Capital Management LLC Takes $823,000 Position in Tennant Company $TNC

Legato Capital Management LLC acquired a new stake in shares of Tennant Company (NYSE:TNC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 11,167 shares of the industrial products company’s stock, valued at approximately $823,000.

A number of other large investors have also made changes to their positions in TNC. Vision One Management Partners LP lifted its position in Tennant by 63.1% in the 3rd 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 stake in shares of Tennant by 26.6% in the third quarter. American Century Companies Inc. now owns 434,996 shares of the industrial products company’s stock worth $35,261,000 after acquiring an additional 91,382 shares during the last quarter. Kopion Asset Management LLC grew its stake in shares of Tennant by 40.6% in the fourth quarter. Kopion Asset Management LLC now owns 123,037 shares of the industrial products company’s stock worth $9,068,000 after acquiring an additional 35,531 shares during the last quarter. Sei Investments Co. boosted its stake in 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. Finally, Squarepoint Ops LLC increased its holdings in Tennant by 110.0% in the 3rd quarter. Squarepoint Ops LLC now owns 45,663 shares of the industrial products company’s stock valued at $3,701,000 after buying an additional 23,923 shares during the period. Institutional investors and hedge funds own 93.33% of the company’s stock.

Insider Activity

In other Tennant news, Director Carol S. Eicher sold 3,130 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $61.98, for a total transaction of $193,997.40. Following the transaction, the director directly owned 28,836 shares in the company, valued at approximately $1,787,255.28. This represents a 9.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James T. Jr. Glerum bought 8,163 shares of the stock in a transaction dated Monday, March 2nd. The shares were purchased at an average cost of $61.25 per share, for a total transaction of $499,983.75. Following the completion of the transaction, the director directly owned 8,600 shares of the company’s stock, valued at $526,750. This trade represents a 1,867.96% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 20,163 shares of company stock worth $1,261,674. Company insiders own 3.50% of the company’s stock.

Tennant Stock Performance

Tennant stock opened at $83.83 on Tuesday. Tennant Company has a 12-month low of $60.17 and a 12-month high of $88.86. 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’s 50-day moving average price is $76.19 and its two-hundred day moving average price is $75.04. The stock has a market cap of $1.43 billion, a PE ratio of 50.50, a P/E/G ratio of 2.34 and a beta of 1.12.

Tennant (NYSE:TNC) last released its earnings results on Monday, May 4th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.18. The firm had revenue of $297.90 million for the quarter, compared to analysts’ expectations of $289.25 million. Tennant had a return on equity of 14.87% and a net margin of 2.55%.The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.12 earnings per share. 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 stock repurchase program on Monday, May 4th that authorizes the company to repurchase 2,000,000,000,000 shares. This repurchase authorization authorizes the industrial products company to buy up to 11.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Tennant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, May 29th. Tennant’s dividend payout ratio is presently 74.70%.

Analyst Ratings Changes

Several brokerages have recently commented on TNC. Freedom Capital downgraded shares of Tennant from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Roth Mkm reissued a “buy” rating and set a $91.00 price objective (down from $107.00) on shares of Tennant in a report on Wednesday, February 25th. Weiss Ratings cut Tennant from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Zacks Research raised Tennant from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Wall Street Zen raised Tennant from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” 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.