Kopion Asset Management LLC Grows Stock Holdings in Tennant Company $TNC

Kopion Asset Management LLC grew its holdings in shares of Tennant Company (NYSE:TNC) by 22.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,980 shares of the industrial products company’s stock after acquiring an additional 22,102 shares during the period. Tennant comprises approximately 5.4% of Kopion Asset Management LLC’s holdings, making the stock its 10th largest position. Kopion Asset Management LLC owned about 0.72% of Tennant worth $8,199,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Farther Finance Advisors LLC raised its stake in Tennant by 64.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 947 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 372 shares during the period. Versant Capital Management Inc lifted its holdings in Tennant by 44.0% during the third quarter. Versant Capital Management Inc now owns 579 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 177 shares in the last quarter. WINTON GROUP Ltd boosted its position in shares of Tennant by 181.7% in the second quarter. WINTON GROUP Ltd now owns 41,389 shares of the industrial products company’s stock worth $3,623,000 after purchasing an additional 26,697 shares during the period. Amundi purchased a new stake in shares of Tennant in the second quarter worth $247,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Tennant in the second quarter worth $2,950,000. 93.33% of the stock is currently owned by hedge funds and other institutional investors.

Tennant Price Performance

Shares of NYSE:TNC traded down $0.17 during midday trading on Friday, reaching $65.77. 44,501 shares of the company were exchanged, compared to its average volume of 215,785. The stock has a market cap of $1.12 billion, a PE ratio of 64.47, a price-to-earnings-growth ratio of 2.45 and a beta of 1.15. The business’s fifty day moving average is $70.18 and its two-hundred day moving average is $78.19. Tennant Company has a one year low of $60.17 and a one year high of $91.93. The company has a current ratio of 2.04, a quick ratio of 1.37 and a debt-to-equity ratio of 0.67.

Tennant (NYSE:TNC) last released its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.83 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.50). Tennant had a net margin of 1.50% and a return on equity of 13.32%. The company had revenue of $324.00 million for the quarter, compared to the consensus estimate of $329.55 million. During the same period last year, the company earned $1.49 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. As a group, analysts predict that Tennant Company will post 3.84 earnings per share for the current year.

Tennant Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $1.24 dividend on an annualized basis and a yield of 1.9%. Tennant’s payout ratio is presently 121.57%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Weiss Ratings downgraded shares of Tennant from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 11th. Wall Street Zen cut Tennant from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Zacks Research downgraded Tennant from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, August 10th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $91.00.

Insiders Place Their Bets

In other news, Director Timothy Morse bought 1,500 shares of the stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average cost of $68.18 per share, for a total transaction of $102,270.00. Following the transaction, the director owned 10,614 shares of the company’s stock, valued at $723,662.52. The trade was a 16.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Patrick Allen bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was acquired at an average cost of $69.42 per share, with a total value of $208,260.00. Following the completion of the acquisition, the director owned 4,927 shares of the company’s stock, valued at $342,032.34. This represents a 155.68% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 12,500 shares of company stock valued at $849,250 in the last quarter. 3.50% of the stock is currently owned by insiders.

Tennant Profile

Tennant Company (NYSE:TNC) designs, manufactures and markets cleaning equipment and related solutions for commercial, industrial and institutional customers. Its products are used to clean and maintain floors and other surfaces in facilities such as warehouses, manufacturing plants, retail stores, healthcare facilities, schools and public buildings.

The company’s product portfolio includes floor scrubbers, sweepers, combination machines, vacuums, outdoor cleaning equipment and autonomous cleaning machines.