Dana Investment Advisors Inc. Has $1.37 Million Position in Snap-On Incorporated (SNA)
Dana Investment Advisors Inc. cut its position in shares of Snap-On Incorporated (NYSE:SNA) by 77.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,637 shares of the company’s stock after selling 29,057 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Snap-On were worth $1,365,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in SNA. BlackRock Inc. boosted its holdings in Snap-On by 2,077.9% during the first quarter. BlackRock Inc. now owns 3,638,208 shares of the company’s stock worth $613,657,000 after purchasing an additional 3,471,155 shares during the last quarter. Boston Partners purchased a new position in Snap-On during the second quarter worth about $100,171,000. Findlay Park Partners LLP purchased a new position in Snap-On during the first quarter worth about $73,371,000. Schroder Investment Management Group boosted its holdings in Snap-On by 59.2% during the second quarter. Schroder Investment Management Group now owns 1,136,354 shares of the company’s stock worth $177,850,000 after purchasing an additional 422,366 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Snap-On by 1,814.9% during the second quarter. Renaissance Technologies LLC now owns 436,600 shares of the company’s stock worth $68,983,000 after purchasing an additional 413,800 shares during the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.
In other Snap-On news, Director Ruth Ann M. Gillis acquired 265 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were bought at an average price of $152.58 per share, with a total value of $40,433.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Iain Boyd sold 18,418 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $147.54, for a total transaction of $2,717,391.72. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.
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Snap-On Incorporated (SNA) traded up 0.46% on Friday, reaching $149.27. 778,365 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $147.07 and its 200 day moving average price is $157.35. The company has a market cap of $8.60 billion, a PE ratio of 15.45 and a beta of 1.05. Snap-On Incorporated has a 52-week low of $140.83 and a 52-week high of $181.73.
Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 20th. The company reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.05. The firm had revenue of $921.40 million for the quarter, compared to the consensus estimate of $920.87 million. Snap-On had a net margin of 16.22% and a return on equity of 20.90%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.36 EPS. On average, analysts expect that Snap-On Incorporated will post $10.09 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Wednesday, August 16th. Snap-On’s payout ratio is presently 29.34%.
Snap-On declared that its board has initiated a share repurchase program on Monday, August 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.
Several research analysts recently weighed in on SNA shares. BidaskClub cut shares of Snap-On from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 23rd. Longbow Research cut shares of Snap-On from a “buy” rating to a “neutral” rating in a research note on Monday, August 21st. Zacks Investment Research cut shares of Snap-On from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Robert W. Baird reiterated an “outperform” rating and issued a $197.00 target price on shares of Snap-On in a research note on Wednesday, August 2nd. Finally, FBR & Co reiterated an “outperform” rating and issued a $205.00 target price on shares of Snap-On in a research note on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Snap-On currently has an average rating of “Hold” and a consensus target price of $197.00.
Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
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