Canandaigua National Corp Lowers Stock Holdings in Snap-on Incorporated (NYSE:SNA)


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Canandaigua National Corp trimmed its stake in Snap-on Incorporated (NYSE:SNA) by 14.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 12,589 shares of the company’s stock after selling 2,204 shares during the period. Canandaigua National Corp’s holdings in Snap-on were worth $2,905,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Fulton Bank N.A. boosted its position in Snap-on by 7.3% in the 1st quarter. Fulton Bank N.A. now owns 1,456 shares of the company’s stock valued at $336,000 after buying an additional 99 shares during the period. Park National Corp OH purchased a new stake in Snap-on in the 1st quarter valued at about $250,000. Pensionfund DSM Netherlands boosted its position in Snap-on by 14.8% in the 1st quarter. Pensionfund DSM Netherlands now owns 15,500 shares of the company’s stock valued at $3,576,000 after buying an additional 2,000 shares during the period. Legacy Wealth Asset Management LLC purchased a new stake in Snap-on in the 4th quarter valued at about $396,000. Finally, IronBridge Private Wealth LLC bought a new stake in shares of Snap-on in the 4th quarter valued at about $28,000. 91.57% of the stock is owned by institutional investors.

Shares of NYSE:SNA traded down $1.87 during trading hours on Thursday, hitting $233.33. The company’s stock had a trading volume of 1,245 shares, compared to its average volume of 527,497. Snap-on Incorporated has a 52 week low of $107.20 and a 52 week high of $236.08. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.63 and a quick ratio of 1.95. The company has a market capitalization of $12.70 billion, a price-to-earnings ratio of 21.75, a P/E/G ratio of 1.49 and a beta of 1.29. The firm’s fifty day moving average price is $216.01 and its 200 day moving average price is $180.75.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 4th. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $2.95 by $0.89. Snap-on had a net margin of 16.95% and a return on equity of 17.17%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $942.78 million. During the same quarter in the previous year, the business posted $3.08 EPS. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, equities research analysts predict that Snap-on Incorporated will post 10.78 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 10th. Investors of record on Tuesday, February 23rd were paid a dividend of $1.23 per share. The ex-dividend date of this dividend was Monday, February 22nd. This represents a $4.92 annualized dividend and a dividend yield of 2.11%. Snap-on’s dividend payout ratio (DPR) is presently 40.13%.

In related news, SVP Timothy L. Chambers sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, January 28th. The shares were sold at an average price of $190.25, for a total transaction of $1,141,500.00. Following the completion of the transaction, the senior vice president now owns 16,453 shares in the company, valued at approximately $3,130,183.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Iain Boyd sold 13,500 shares of the business’s stock in a transaction that occurred on Thursday, January 28th. The stock was sold at an average price of $190.79, for a total transaction of $2,575,665.00. Following the transaction, the vice president now owns 18,474 shares of the company’s stock, valued at approximately $3,524,654.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,033 shares of company stock valued at $9,397,547. 4.20% of the stock is currently owned by company insiders.

About Snap-on

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.

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

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