Foundry Partners LLC Boosts Stock Position in Snap-on Incorporated (NYSE:SNA)

Foundry Partners LLC grew its stake in shares of Snap-on Incorporated (NYSE:SNA) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,652 shares of the company’s stock after acquiring an additional 319 shares during the period. Snap-on accounts for approximately 1.2% of Foundry Partners LLC’s portfolio, making the stock its 15th largest holding. Foundry Partners LLC’s holdings in Snap-on were worth $19,252,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Royal London Asset Management Ltd. raised its position in shares of Snap-on by 12.7% in the third quarter. Royal London Asset Management Ltd. now owns 22,537 shares of the company’s stock worth $5,751,000 after buying an additional 2,542 shares in the last quarter. Caprock Group LLC purchased a new stake in shares of Snap-on in the fourth quarter worth $1,203,000. Vision Capital Management Inc. purchased a new stake in shares of Snap-on in the fourth quarter worth $2,377,000. Cerity Partners LLC raised its position in shares of Snap-on by 275.7% in the fourth quarter. Cerity Partners LLC now owns 7,938 shares of the company’s stock worth $2,292,000 after buying an additional 5,825 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of Snap-on by 3.9% in the fourth quarter. Raymond James & Associates now owns 355,160 shares of the company’s stock worth $102,584,000 after buying an additional 13,225 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Transactions at Snap-on

In related news, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now owns 3,213 shares in the company, valued at approximately $957,988.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Aldo John Pagliari sold 3,231 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $270.58, for a total transaction of $874,243.98. Following the transaction, the chief financial officer now owns 93,183 shares in the company, valued at approximately $25,213,456.14. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the transaction, the vice president now owns 3,213 shares in the company, valued at approximately $957,988.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,368 shares of company stock worth $13,399,449. Company insiders own 4.10% of the company’s stock.

Snap-on Price Performance

SNA stock traded up $7.04 during mid-day trading on Friday, hitting $268.80. 522,146 shares of the stock were exchanged, compared to its average volume of 296,409. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.81. The business has a fifty day moving average price of $283.78 and a 200 day moving average price of $278.60. Snap-on Incorporated has a 12 month low of $245.73 and a 12 month high of $298.49. The stock has a market capitalization of $14.20 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 1.92 and a beta of 0.99.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.66 by $0.09. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.60 earnings per share. On average, sell-side analysts anticipate that Snap-on Incorporated will post 19.24 EPS for the current year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were issued a $1.86 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.44 annualized dividend and a dividend yield of 2.77%. Snap-on’s dividend payout ratio is currently 39.03%.

Analyst Upgrades and Downgrades

SNA has been the topic of a number of recent analyst reports. Robert W. Baird lowered their price objective on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday. Roth Mkm reiterated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research report on Thursday. Tigress Financial reaffirmed a “buy” rating and set a $336.00 price target on shares of Snap-on in a research note on Friday, February 16th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Snap-on currently has a consensus rating of “Hold” and an average target price of $301.40.

Snap-on Company Profile

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.