Century Capital Management LLC Cuts Stake in Snap-On Incorporated (SNA)

Century Capital Management LLC lowered its position in Snap-On Incorporated (NYSE:SNA) by 48.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,536 shares of the company’s stock after selling 9,077 shares during the period. Century Capital Management LLC’s holdings in Snap-On were worth $1,608,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Cleararc Capital Inc. raised its stake in shares of Snap-On by 0.5% in the fourth quarter. Cleararc Capital Inc. now owns 1,418 shares of the company’s stock worth $243,000 after buying an additional 7 shares in the last quarter. Trust Department MB Financial Bank N A raised its stake in shares of Snap-On by 0.5% in the first quarter. Trust Department MB Financial Bank N A now owns 1,832 shares of the company’s stock valued at $309,000 after buying an additional 9 shares during the period. Municipal Employees Retirement System of Michigan increased its position in shares of Snap-On by 0.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 1,840 shares of the company’s stock valued at $280,000 after buying an additional 10 shares in the last quarter. Adirondack Trust Co. increased its position in shares of Snap-On by 2.5% in the first quarter. Adirondack Trust Co. now owns 624 shares of the company’s stock valued at $105,000 after buying an additional 15 shares in the last quarter. Finally, Intrust Bank NA increased its position in shares of Snap-On by 0.8% in the first quarter. Intrust Bank NA now owns 3,062 shares of the company’s stock valued at $516,000 after buying an additional 23 shares in the last quarter. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Snap-On (NYSE:SNA)

Shares of Snap-On Incorporated (SNA) traded up 1.15% during midday trading on Friday, hitting $157.96. 660,099 shares of the stock were exchanged. The firm has a market cap of $9.15 billion, a P/E ratio of 16.75 and a beta of 1.04. The stock’s 50 day moving average is $164.15 and its 200 day moving average is $169.37. Snap-On Incorporated has a 12-month low of $145.17 and a 12-month high of $181.73.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, April 20th. The company reported $2.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.34 by $0.05. The company had revenue of $887.10 million during the quarter, compared to analysts’ expectations of $877.30 million. Snap-On had a net margin of 16.07% and a return on equity of 20.94%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.16 earnings per share. On average, equities research analysts forecast that Snap-On Incorporated will post $10.09 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Friday, May 19th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Wednesday, May 17th. Snap-On’s dividend payout ratio (DPR) is presently 30.08%.

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SNA has been the subject of several analyst reports. Jefferies Group LLC reiterated a “hold” rating and issued a $175.00 price target on shares of Snap-On in a report on Wednesday, May 31st. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $200.00 price objective on shares of Snap-On in a report on Thursday, June 1st. Finally, CIBC reaffirmed an “outperform” rating and set a $200.00 price target on shares of Snap-On in a research report on Wednesday, April 12th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $192.83.

In other news, SVP Thomas J. Ward sold 42,000 shares of the business’s stock in a transaction on Monday, April 24th. The shares were sold at an average price of $174.88, for a total value of $7,344,960.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Jeanne M. Moreno sold 12,459 shares of the business’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $176.54, for a total transaction of $2,199,511.86. Following the completion of the sale, the vice president now directly owns 10,486 shares in the company, valued at approximately $1,851,198.44. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

Snap-On Company Profile

Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.

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