MAI Capital Management Raises Position in Snap-On Incorporated $SNA

MAI Capital Management grew its stake in Snap-On Incorporated (NYSE:SNA) by 29.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 888 shares of the company’s stock after purchasing an additional 202 shares during the period. MAI Capital Management’s holdings in Snap-On were worth $276,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC bought a new stake in Snap-On in the second quarter worth $434,938,000. Ameriprise Financial Inc. increased its position in Snap-On by 54.3% during the first quarter. Ameriprise Financial Inc. now owns 681,857 shares of the company’s stock valued at $229,793,000 after acquiring an additional 239,908 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Snap-On in the second quarter valued at $56,595,000. Nuveen LLC bought a new stake in shares of Snap-On in the 1st quarter worth about $45,711,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Snap-On by 6.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company’s stock worth $647,593,000 after acquiring an additional 115,306 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-On Stock Performance

Snap-On stock opened at $340.89 on Thursday. The company has a 50 day moving average price of $339.16 and a 200-day moving average price of $328.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $373.89. The company has a market capitalization of $17.73 billion, a PE ratio of 17.88, a P/E/G ratio of 2.33 and a beta of 0.81.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.12. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.Snap-On’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.70 earnings per share. As a group, equities analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be paid a dividend of $2.44 per share. This is an increase from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, November 21st. Snap-On’s payout ratio is 51.18%.

Wall Street Analysts Forecast Growth

SNA has been the topic of several analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Roth Capital restated a “buy” rating and set a $385.00 target price on shares of Snap-On in a research report on Friday, October 17th. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Tigress Financial raised their price target on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Finally, Robert W. Baird boosted their price objective on Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $365.00.

Insider Buying and Selling at Snap-On

In related news, SVP Jesus Arregui sold 3,831 shares of Snap-On stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total value of $1,292,119.68. Following the completion of the sale, the senior vice president directly owned 2,642 shares in the company, valued at $891,093.76. The trade was a 59.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.90% of the stock is owned by insiders.

Snap-On 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.