Denali Advisors LLC Makes New Investment in Snap-On Incorporated $SNA

Denali Advisors LLC bought a new position in shares of Snap-On Incorporated (NYSE:SNA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,906 shares of the company’s stock, valued at approximately $1,001,000.

Other hedge funds also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Snap-On during the fourth quarter worth $25,000. GoalVest Advisory LLC purchased a new stake in Snap-On during the fourth quarter worth $28,000. Montag A & Associates Inc. lifted its holdings in Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after buying an additional 73 shares during the period. Quent Capital LLC purchased a new stake in Snap-On during the third quarter worth $36,000. Finally, United Community Bank purchased a new stake in Snap-On during the fourth quarter worth $43,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wall Street Zen lowered Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Roth Mkm reaffirmed a “buy” rating and set a $431.00 price target on shares of Snap-On in a research report on Friday, April 24th. Robert W. Baird raised their target price on Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Finally, Tigress Financial raised their target price on Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Snap-On currently has an average rating of “Moderate Buy” and a consensus price target of $381.20.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 23,396 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the sale, the chief executive officer directly owned 856,918 shares in the company, valued at $322,004,076.86. This trade represents a 2.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP June C. Lemerand sold 1,378 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total value of $534,071.46. Following the sale, the vice president owned 2,913 shares in the company, valued at $1,128,991.41. This trade represents a 32.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 55,046 shares of company stock worth $20,921,434 in the last ninety days. Company insiders own 3.80% of the company’s stock.

Snap-On Price Performance

Shares of SNA opened at $373.59 on Friday. The business’s 50-day moving average is $373.96 and its two-hundred day moving average is $361.25. The company has a market capitalization of $19.35 billion, a P/E ratio of 19.29, a P/E/G ratio of 2.62 and a beta of 0.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.53. Snap-On Incorporated has a fifty-two week low of $301.82 and a fifty-two week high of $400.88.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $4.75 by ($0.06). Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business posted $4.51 earnings per share. Snap-On’s revenue for the quarter was up 5.8% on a year-over-year basis. Research analysts predict that Snap-On Incorporated will post 19.75 earnings per share for the current year.

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be given a dividend of $2.44 per share. The ex-dividend date is Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.6%. Snap-On’s dividend payout ratio (DPR) is 50.39%.

Snap-On declared that its Board of Directors has authorized a share buyback plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.