Shell Asset Management Co. raised its position in shares of Snap-On Inc. (NYSE:SNA) by 29.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,434 shares of the company’s stock after buying an additional 997 shares during the period. Shell Asset Management Co.’s holdings in Snap-On were worth $700,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. increased its stake in Snap-On by 451.9% in the second quarter. Meeder Asset Management Inc. now owns 1,700 shares of the company’s stock worth $269,000 after buying an additional 1,392 shares in the last quarter. Oakbrook Investments LLC increased its stake in Snap-On by 4.0% in the second quarter. Oakbrook Investments LLC now owns 3,245 shares of the company’s stock worth $512,000 after buying an additional 125 shares in the last quarter. Hermes Investment Management Ltd. increased its stake in Snap-On by 94.3% in the second quarter. Hermes Investment Management Ltd. now owns 211,997 shares of the company’s stock worth $33,457,000 after buying an additional 102,900 shares in the last quarter. Old Mutual Global Investors UK Ltd. acquired a new stake in Snap-On during the second quarter worth about $555,000. Finally, Chesley Taft & Associates LLC increased its stake in Snap-On by 0.9% in the second quarter. Chesley Taft & Associates LLC now owns 8,820 shares of the company’s stock worth $1,392,000 after buying an additional 75 shares in the last quarter. 84.72% of the stock is owned by hedge funds and other institutional investors.
Shares of Snap-On Inc. (NYSE:SNA) traded down 1.71% during trading on Friday, hitting $150.29. 516,404 shares of the stock traded hands. The company has a market cap of $8.73 billion, a P/E ratio of 17.23 and a beta of 1.23. Snap-On Inc. has a 1-year low of $133.09 and a 1-year high of $174.52. The stock has a 50-day moving average of $151.43 and a 200 day moving average of $156.49.
Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, July 21st. The company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.13. Snap-On had a net margin of 15.28% and a return on equity of 20.78%. The business earned $872.30 million during the quarter, compared to the consensus estimate of $876.70 million. During the same quarter last year, the company posted $2.03 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts predict that Snap-On Inc. will post $9.09 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 19th were issued 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 yield of 1.62%. Snap-On’s dividend payout ratio (DPR) is presently 27.98%.
A number of analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Snap-On from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. Robert W. Baird restated a “buy” rating on shares of Snap-On in a research report on Tuesday, June 28th. Finally, CL King initiated coverage on shares of Snap-On in a research report on Monday, June 27th. They issued a “buy” rating and a $174.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $175.07.
In related news, SVP Thomas L. Kassouf sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $153.29, for a total transaction of $306,580.00. Following the completion of the sale, the senior vice president now owns 26,612 shares in the company, valued at $4,079,353.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Thomas J. Ward sold 42,000 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was 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. Corporate insiders own 3.40% of the company’s stock.
Snap-On Company Profile
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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