Jupiter Topco LLC Takes Position in Tennant Company $TNC

Jupiter Topco LLC bought a new position in shares of Tennant Company (NYSE:TNC) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 7,824 shares of the industrial products company’s stock, valued at approximately $685,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. grew its stake 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 stake 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 valued at $39,000 after acquiring an additional 498 shares during the period. State of Wyoming acquired a new position in shares of Tennant during the 2nd quarter valued at $73,000. BNP Paribas Financial Markets lifted its holdings 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 valued at $150,000 after acquiring an additional 389 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Tennant by 40.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,492 shares of the industrial products company’s stock worth $193,000 after purchasing an additional 722 shares during the period. 93.33% of the stock is owned by institutional investors and hedge funds.

Tennant Stock Performance

NYSE:TNC opened at $71.74 on Monday. The firm has a 50-day moving average of $79.01 and a two-hundred day moving average of $78.04. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.04 and a quick ratio of 1.37. The stock has a market cap of $1.22 billion, a P/E ratio of 70.33, a PEG ratio of 2.67 and a beta of 1.11. Tennant Company has a 1-year low of $60.17 and a 1-year high of $91.93.

Tennant (NYSE:TNC) last announced its earnings results on Wednesday, August 5th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.50). Tennant had a return on equity of 13.32% and a net margin of 1.50%.The business had revenue of $324.00 million for the quarter, compared to analysts’ expectations of $329.55 million. During the same period in the previous year, the firm posted $1.49 earnings per share. The firm’s revenue was up 1.7% compared to the same quarter last year. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. On average, research analysts expect that Tennant Company will post 3.85 earnings per share for the current fiscal year.

Tennant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.31 per share. The ex-dividend date is Monday, August 31st. This represents a $1.24 annualized dividend and a yield of 1.7%. Tennant’s payout ratio is currently 121.57%.

Insider Buying and Selling

In related news, Director Timothy R. Morse purchased 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average cost of $68.18 per share, with a total value of $102,270.00. Following the completion of the acquisition, the director directly owned 10,614 shares of the company’s stock, valued at approximately $723,662.52. The trade was a 16.46% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Donal L. Mulligan acquired 8,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were bought at an average cost of $67.34 per share, with a total value of $538,720.00. Following the completion of the acquisition, the director owned 16,000 shares in the company, valued at $1,077,440. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TNC shares. Zacks Research downgraded Tennant from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, August 10th. Weiss Ratings upgraded Tennant from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Finally, Wall Street Zen lowered Tennant from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Tennant currently has an average rating of “Hold” and a consensus price target 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.