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3 insiders bought €735k of shares over the last 90 days, the latest by ALLEN PATRICK E, filed 23 Sept 2026.
Tennant Co: what insiders have been doing
Tennant Co, classified in the Industry sector, is a listed company based in Minneapolis, United States, founded in 1870. Its insiders report their share dealings to SEC (Form 4). Over the twelve months to 20 October 2026, 27 filings were filed, from 13 insiders.
Not one open-market sale was filed. On the buying side, 3 insiders reported 4 purchases totalling €1.0M. A purchase on the market is a deliberate choice to commit personal money, which is why it draws more attention than a grant. The largest single trade was a purchase of €467k by Mulligan Donal L, published on 13 August 2026, equal to 0.047% of the market capitalisation. Those buying include 3 senior executives.
In the case of 3 purchases, another manager of the company was buying within the same 30 days. A cluster is several different insiders buying the same stock within a short window, a pattern studied more closely than a single purchase. The most recent open-market purchase was published on 23 September 2026, 27 days ago. Filings reach the SEC (Form 4) feed a median of 4 days after the trade. The legal deadline for a Form 4 is two business days after the transaction.
For context, the typical company on the same exchange (median of 5,453 companies) published 22 filings over the same period, against 27 filings here. Our records for Tennant Co go back to 2019, with 4 purchases and 51 sales on the open market in total. On the fundamentals side, the SEC filing (10-K) for the period ending 31 December 2025 lists revenue at 1.20 bn USD and net income at 43.8 m USD; the dividend was 1.20 USD per share.
These figures are compiled from regulatory filings published by SEC (Form 4). They describe what insiders did and are not a recommendation.
Insider Decl.
279
Thresholds
n/a
Buy Volume
€1M
4 ops. · all time
Sell Volume
€14M
51 ops. · all time
Who traded when
BuySaleDonal L. Mulligan2 buys
Barb Balinski1 sale
Patrick E. Allen1 buy
Richard H. Zay1 sale
Timothy R. Morse1 buy
Since the insiders bought
- -4.7%Entry US$68.59 · Close 16 Oct 2026 US$65.35
- -4.7%Entry US$68.59 · Close 16 Oct 2026 US$65.35
Entry is the close on the day after publication, the first price a reader could act on. Prices in the listing currency. Past moves are not a forecast.
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Fundamental score
Ranked 13,567 of 26,169 companies
50.5
score / 100
Value55
Quality46
FCF yld3.9%
Earn yld3.9%
EV/EBITDA11.5x
ROE3.1%
Gross mgn40%
Net mgn3.6%
Debt/EBITDA2.6x
Pillars2/3
Transparent value + quality ranking, distinct from the insider signal.
Financial data
as of FY 2025FY ended December 2025 · cache
US$65.35
Analyst consensus
4 analysts1.67/5
US$77.00Target US$87.75(+34%)US$93.00
Income statement
RevenueUS$1.2B
Gross profitUS$484.3M40% margin
EBITDAUS$125.6M10% margin
Net incomeUS$43.8M1.5% margin
Valuation
PER (trailing)62.8x
PER (forward)11.6x
P/Book2.1x
Beta1.14
Balance sheet & cash
Market capUS$1.1B
Total debtUS$330.8M
Free Cash FlowUS$42.9M
Debt / Equity73%
Profitability & ownership
ROE3.1%
ROA2.3%
% insiders2.2%
% institutions110.2%
Last declaration on 23 September 2026
Declarations279 total
3,000 shares@ US$69.41680.018% mcap100.0% of flowCommon StockSEC:0001191569-26-000012:0
Canonical exit: 29 Nov 2026 (T+90)
2,707 shares0Common StockSEC:0001494479-26-000008:0
2,707 shares0Common StockSEC:0002022060-26-000005:0
1,500 shares@ US$68.180.0090% mcap100.0% of flowCommon StockSEC:0001388682-26-000004:0
Canonical exit: 10 Nov 2026 (T+90)
8,000 shares@ US$67.340.047% mcap31.0% of flowCommon StockSEC:0001406019-26-000008:0
Canonical exit: 10 Nov 2026 (T+90)
3,538 shares@ US$54.700.013% mcap10.9% of flowCommon StockSEC:0001406019-26-000004:0
2,456 shares@ US$78.810.013% mcap10.9% of flowCommon StockSEC:0001406019-26-000004:1
26,755 shares0Common StockSEC:0001624242-26-000005:0
451 shares@ US$61.035.4% of flowCommon StockSEC:0001850276-26-000003:0
514 shares@ US$61.037.7% of flowCommon StockSEC:0001818711-26-000003:0
194 shares@ US$61.0328.5% of flowCommon StockSEC:0002022060-26-000003:0
4,268 shares@ US$61.0310.6% of flowCommon StockSEC:0001624242-26-000003:0
840 shares@ US$61.031.7% of flowCommon StockSEC:0001494479-26-000003:0
5,000 shares@ US$63.8617.9% of flowCommon StockSEC:0001406019-26-000002:0
Canonical exit: 27 May 2026 (T+90)
437 shares0Common StockSEC:0002036886-26-000005:0
1,537 shares0Common StockSEC:0002022060-26-000002:0
5,579 shares0Common StockSEC:0001850276-26-000002:0
6,366 shares0Common StockSEC:0001818711-26-000002:0
17,571 shares0Common StockSEC:0001624242-26-000002:0
10,399 shares0Common StockSEC:0001494479-26-000002:0
437 shares0Common StockSEC:0001191569-26-000006:0
707 shares@ US$52.424.0% of flowCommon StockSEC:0001667346-26-000002:0
3,538 shares@ US$54.7029.1% of flowCommon StockSEC:0001559475-26-000002:0
25 of 279 declarations
About Tennant Co
Tennant Company (NYSE: TNC) is a U.S.-based industrial company focused on floor-care equipment and cleaning solutions. Headquartered in Eden Prairie, Minnesota, United States, Tennant was founded in 1870 and has built a long operating history around innovation in cleaning technologies. The company positions itself as a global leader in designing, manufacturing, and marketing solutions that help create cleaner, safer, and healthier environments. ([investors.tennantco.com](https://investors.tennantco.com/news/news-details/2026/Tennant-Company-Reports-2025-Fourth-Quarter-and-Full-Year-Results/default.aspx))
Tennant’s product portfolio spans equipment used to maintain surfaces in industrial, commercial, and outdoor environments, along with detergent-free and other sustainable cleaning technologies, cleaning tools, and supplies. A key competitive advantage is its broad field service network, which management describes as the most extensive in the industry. That service footprint supports customer retention, aftermarket activity, and long-term relationships across large multi-site accounts. The company’s strategic messaging has emphasized new product innovation, expanded go-to-market coverage, and disciplined pricing, indicating a focus on both organic growth and operating leverage. ([investors.tennantco.com](https://investors.tennantco.com/news/news-details/2026/Tennant-Company-Reports-2025-Fourth-Quarter-and-Full-Year-Results/default.aspx))
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Geographically, Tennant operates on a global basis. The company states that it manufactures across multiple regions worldwide and sells directly in more than 21 countries, while also working through distributors in more than 100 countries. This international reach gives Tennant exposure to a diversified customer base and helps balance demand across North America, EMEA, and other markets. ([investors.tennantco.com](https://investors.tennantco.com/news/news-details/2026/Tennant-Company-Reports-2025-Fourth-Quarter-and-Full-Year-Results/default.aspx))
From a market perspective, Tennant is listed on the NYSE under ticker TNC, making it a U.S. publicly traded industrial name with a mid-cap profile and a relatively specialized niche. In 2025, Tennant reported sales of $1.20 billion and approximately 4,500 employees, underscoring its scale as a focused global equipment manufacturer rather than a broad conglomerate. ([investors.tennantco.com](https://investors.tennantco.com/news/news-details/2026/Tennant-Company-Reports-2025-Fourth-Quarter-and-Full-Year-Results/default.aspx))
Recent developments matter for the investment case. Tennant’s 2025 full-year results showed margin pressure from lower volumes, a less favorable product and channel mix, higher tariff-related input costs, and operational disruption linked to the North America ERP transition. Management said the ERP implementation challenges weighed on fourth-quarter profitability, while also highlighting solid liquidity, free cash flow generation, and continued shareholder returns through buybacks and dividends. In parallel, insider Form 4 activity remains visible in the market’s monitoring of the stock, including recent open-market sales by an executive, which investors may view as part of standard disclosure analysis rather than a standalone signal. ([investors.tennantco.com](https://investors.tennantco.com/news/news-details/2026/Tennant-Company-Reports-2025-Fourth-Quarter-and-Full-Year-Results/default.aspx))
