Denali Advisors LLC Acquires New Shares in Snap-On Incorporated $SNA

Denali Advisors LLC acquired a new position in shares of Snap-On Incorporated (NYSE:SNA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,906 shares of the company’s stock, valued at approximately $1,169,000.

Several other large investors have also recently bought and sold shares of the company. DV Equities LLC acquired a new stake in shares of Snap-On during the fourth quarter valued at about $25,000. Western Wealth Management LLC bought a new position in Snap-On in the 1st quarter valued at approximately $29,000. Montag A & Associates Inc. raised its holdings in Snap-On by 331.8% in the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after buying an additional 73 shares during the last quarter. Quattro Advisors LLC acquired a new stake in Snap-On during the 4th quarter worth approximately $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its position in Snap-On by 36.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock worth $36,000 after buying an additional 28 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Snap-On Price Performance

Shares of NYSE SNA opened at $394.00 on Thursday. The company has a market capitalization of $20.38 billion, a PE ratio of 20.09, a P/E/G ratio of 2.78 and a beta of 0.73. The company has a quick ratio of 2.64, a current ratio of 3.43 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a twelve month low of $319.20 and a twelve month high of $423.02. The firm has a fifty day simple moving average of $403.06 and a 200 day simple moving average of $384.33.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, beating analysts’ consensus estimates of $4.95 by $0.01. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the firm posted $4.72 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts forecast that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On announced that its board has authorized a stock repurchase plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Snap-On Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Snap-On’s payout ratio is currently 49.77%.

Insider Activity at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 22,889 shares of Snap-On stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $399.69, for a total value of $9,148,504.41. Following the completion of the sale, the chief executive officer directly owned 867,779 shares in the company, valued at approximately $346,842,588.51. The trade was a 2.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Richard Thomas Miller sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total value of $811,840.00. Following the completion of the transaction, the vice president directly owned 4,529 shares in the company, valued at approximately $1,838,411.68. This trade represents a 30.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 45,928 shares of company stock worth $18,483,009 over the last quarter. 3.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SNA shares. Roth Capital restated a “buy” rating and issued a $461.00 price target (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Barclays began coverage on shares of Snap-On in a report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target on the stock. Tigress Financial boosted their price objective on shares of Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Robert W. Baird set a $415.00 price objective on Snap-On in a report on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Snap-On currently has an average rating of “Moderate Buy” and a consensus price target of $426.20.

Snap-On Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.