Peregrine Capital Management LLC Raises Holdings in Tennant Company $TNC

Peregrine Capital Management LLC lifted its position in shares of Tennant Company (NYSE:TNC) by 12.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,065 shares of the industrial products company’s stock after buying an additional 7,616 shares during the quarter. Peregrine Capital Management LLC’s holdings in Tennant were worth $4,586,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vision One Management Partners LP raised its holdings in shares of Tennant by 63.1% in the third quarter. Vision One Management Partners LP now owns 291,864 shares of the industrial products company’s stock valued at $23,212,000 after acquiring an additional 112,873 shares in the last quarter. American Century Companies Inc. grew its holdings in Tennant by 26.6% during the 3rd 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 in the last quarter. Millennium Management LLC grew its holdings in Tennant by 33.8% during the 4th quarter. Millennium Management LLC now owns 358,452 shares of the industrial products company’s stock worth $26,418,000 after acquiring an additional 90,611 shares in the last quarter. Jane Street Group LLC increased its position in Tennant by 158.4% during the 4th quarter. Jane Street Group LLC now owns 94,461 shares of the industrial products company’s stock valued at $6,962,000 after purchasing an additional 57,907 shares during the period. Finally, Renaissance Technologies LLC increased its position in Tennant by 116.3% during the 4th quarter. Renaissance Technologies LLC now owns 76,900 shares of the industrial products company’s stock valued at $5,668,000 after purchasing an additional 41,342 shares during the period. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. 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 report on Friday, June 5th. 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 given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.00.

Tennant Stock Performance

Shares of TNC opened at $86.24 on Thursday. Tennant Company has a 12 month low of $60.17 and a 12 month high of $91.93. The stock has a fifty day moving average price of $85.20 and a 200-day moving average price of $77.74. The company has a current ratio of 2.12, a quick ratio of 1.41 and a debt-to-equity ratio of 0.67. The firm has a market cap of $1.47 billion, a PE ratio of 51.95, a P/E/G ratio of 2.44 and a beta of 1.12.

Tennant (NYSE:TNC) last announced its earnings results on Monday, May 4th. The industrial products company reported $0.58 earnings per share 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 the consensus estimate of $289.25 million. During the same period in the previous year, the business earned $1.12 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Tennant has set its FY 2026 guidance at 4.700-5.300 EPS. Equities research analysts predict that Tennant Company will post 5.12 earnings per share for the current fiscal year.

Tennant Announces Dividend

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

Tennant declared that its board has initiated a stock buyback plan on Monday, May 4th that authorizes the company to buyback 2,000,000,000,000 outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 11.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.