Strs Ohio increased its position in Snap-On Inc. (NYSE:SNA) by 26.1% during the second quarter, Holdings Channel reports. The firm owned 125,788 shares of the company’s stock after buying an additional 26,072 shares during the period. Strs Ohio’s holdings in Snap-On were worth $19,851,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Hahn Capital Management LLC increased its position in Snap-On by 201.4% in the first quarter. Hahn Capital Management LLC now owns 184,448 shares of the company’s stock worth $28,956,000 after buying an additional 123,259 shares during the period. Renaissance Technologies LLC acquired a new position in Snap-On during the first quarter valued at approximately $28,855,000. Adage Capital Partners GP L.L.C. acquired a new position in Snap-On during the first quarter valued at approximately $29,753,000. Geode Capital Management LLC increased its position in Snap-On by 6.1% in the first quarter. Geode Capital Management LLC now owns 490,765 shares of the company’s stock valued at $76,896,000 after buying an additional 28,409 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Snap-On by 24,926.3% in the first quarter. Wellington Management Group LLP now owns 478,253 shares of the company’s stock valued at $75,081,000 after buying an additional 476,342 shares during the last quarter. 84.72% of the stock is currently owned by institutional investors and hedge funds.
Snap-On Inc. (NYSE:SNA) traded down 0.03% during midday trading on Wednesday, reaching $150.89. 433,042 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $152.05 and a 200 day moving average price of $156.73. The company has a market cap of $8.76 billion, a price-to-earnings ratio of 17.30 and a beta of 1.32. Snap-On Inc. has a 52 week low of $133.09 and a 52 week high of $174.52.
Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 21st. The company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.13. The company had revenue of $872.30 million for the quarter, compared to analysts’ expectations of $876.70 million. Snap-On had a net margin of 15.28% and a return on equity of 20.78%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $2.03 earnings per share. Analysts anticipate that Snap-On Inc. will post $9.09 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 19th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.62%. Snap-On’s dividend payout ratio is 27.98%.
Several equities analysts have commented on the stock. Robert W. Baird reissued a “buy” rating on shares of Snap-On in a research report on Tuesday, June 28th. CL King assumed coverage on shares of Snap-On in a research report on Monday, June 27th. They set a “buy” rating and a $174.00 target price on the stock. Finally, Zacks Investment Research raised shares of Snap-On from a “hold” rating to a “buy” rating and set a $172.00 target price on the stock in a research report on Wednesday, June 15th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $176.56.
In related news, VP Iain Boyd sold 3,500 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $157.97, for a total value of $552,895.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Thomas J. Ward sold 42,000 shares of the business’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $151.60, for a total transaction of $6,367,200.00. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.
Snap-On Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users. The Company’s segments include Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group and Financial Services. Its Commercial & Industrial Group segment consists of business operations serving a range of industrial and commercial customers across the world.
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