Ngam Advisors L.P. Buys 12,033 Shares of Snap-On Incorporated (SNA)
Ngam Advisors L.P. increased its stake in Snap-On Incorporated (NYSE:SNA) by 20.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,316 shares of the company’s stock after buying an additional 12,033 shares during the period. Ngam Advisors L.P. owned 0.12% of Snap-On worth $11,861,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in SNA. Norges Bank bought a new stake in shares of Snap-On during the fourth quarter valued at about $92,024,000. Alliancebernstein L.P. increased its stake in shares of Snap-On by 428.7% in the first quarter. Alliancebernstein L.P. now owns 547,616 shares of the company’s stock valued at $92,366,000 after buying an additional 444,039 shares during the period. Findlay Park Partners LLP bought a new stake in shares of Snap-On during the first quarter valued at about $73,371,000. Schroder Investment Management Group increased its stake in shares of Snap-On by 148.4% in the first quarter. Schroder Investment Management Group now owns 713,988 shares of the company’s stock valued at $120,172,000 after buying an additional 426,521 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Snap-On by 4,173.2% in the first quarter. Victory Capital Management Inc. now owns 334,461 shares of the company’s stock valued at $56,413,000 after buying an additional 326,634 shares during the period. 90.94% of the stock is currently owned by institutional investors and hedge funds.
Snap-On Incorporated (SNA) traded up 1.15% during mid-day trading on Friday, reaching $157.96. The company had a trading volume of 660,099 shares. The stock has a market capitalization of $9.15 billion, a price-to-earnings ratio of 16.75 and a beta of 1.04. Snap-On Incorporated has a 52-week low of $145.17 and a 52-week high of $181.73. The company’s 50 day moving average is $164.15 and its 200 day moving average is $169.37.
Snap-On (NYSE:SNA) last announced its earnings results on Thursday, April 20th. The company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.34 by $0.05. The business had revenue of $887.10 million for the quarter, compared to the consensus estimate of $877.30 million. Snap-On had a return on equity of 20.94% and a net margin of 16.07%. Snap-On’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.16 EPS. Equities analysts predict that Snap-On Incorporated will post $10.09 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Friday, May 19th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Wednesday, May 17th. Snap-On’s payout ratio is currently 30.08%.
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SNA has been the topic of several recent research reports. CIBC reissued an “outperform” rating and issued a $200.00 price target on shares of Snap-On in a report on Wednesday, April 12th. Jefferies Group LLC reissued a “hold” rating and issued a $175.00 price target (up previously from $165.00) on shares of Snap-On in a report on Sunday, April 23rd. Finally, Oppenheimer Holdings, Inc. initiated coverage on Snap-On in a report on Tuesday, April 11th. They issued an “outperform” rating and a $200.00 price target on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $192.83.
In other news, SVP Thomas J. Ward sold 42,000 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $174.88, for a total value of $7,344,960.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Jeanne M. Moreno sold 12,459 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $176.54, for a total value of $2,199,511.86. Following the completion of the transaction, the vice president now directly owns 10,486 shares in the company, valued at $1,851,198.44. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.
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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