Candriam Luxembourg S.C.A. cut its position in Snap-On Inc. (NYSE:SNA) by 32.4% during the second quarter, Holdings Channel reports. The fund owned 2,143 shares of the company’s stock after selling 1,025 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Snap-On were worth $338,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the company. Nisa Investment Advisors L.L.C. raised its stake in Snap-On by 25.9% in the first quarter. Nisa Investment Advisors L.L.C. now owns 4,856 shares of the company’s stock worth $762,000 after buying an additional 1,000 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Snap-On by 4.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,606,867 shares of the company’s stock worth $252,262,000 after buying an additional 63,151 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in Snap-On during the first quarter worth approximately $1,652,000. M&T Bank Corp raised its stake in Snap-On by 6.3% in the first quarter. M&T Bank Corp now owns 16,476 shares of the company’s stock worth $2,586,000 after buying an additional 978 shares during the last quarter. Finally, ING Groep NV acquired a new stake in Snap-On during the first quarter worth approximately $213,000. 84.72% of the stock is owned by institutional investors and hedge funds.
Shares of Snap-On Inc. (NYSE:SNA) traded down 0.96% during mid-day trading on Thursday, hitting $145.97. The company had a trading volume of 470,105 shares. The company has a 50-day moving average price of $150.90 and a 200-day moving average price of $156.29. Snap-On Inc. has a 1-year low of $133.09 and a 1-year high of $174.52. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of 16.74 and a beta of 1.23.
Snap-On (NYSE:SNA) last posted its 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 earned $872.30 million during the quarter, compared to analyst estimates of $876.70 million. Snap-On had a return on equity of 20.78% and a net margin of 15.28%. Snap-On’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.03 earnings per share. On average, equities analysts anticipate that Snap-On Inc. will post $9.09 EPS for the current year.
SNA has been the subject of a number of research analyst reports. Zacks Investment Research raised Snap-On from a “hold” rating to a “buy” rating and set a $172.00 target price for the company in a report on Wednesday, June 15th. CL King initiated coverage on Snap-On in a report on Monday, June 27th. They issued a “buy” rating and a $174.00 target price for the company. Finally, Robert W. Baird reissued a “buy” rating on shares of Snap-On in a report on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Snap-On has an average rating of “Buy” and a consensus price target of $175.07.
In other Snap-On news, SVP Thomas J. Ward sold 42,000 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $151.60, for a total transaction of $6,367,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Iain Boyd sold 3,500 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $157.97, for a total value of $552,895.00. The disclosure for this sale can be found here. Company 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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