Snap-On Incorporated Plans Quarterly Dividend of $2.44 (NYSE:SNA)

Snap-On Incorporated (NYSE:SNA) declared a quarterly dividend on Thursday, April 30th. Investors of record on Wednesday, May 20th will be given a dividend of 2.44 per share on Wednesday, June 10th. This represents a c) annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Wednesday, May 20th.

Snap-On has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 15 years. Snap-On has a payout ratio of 48.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Snap-On to earn $20.95 per share next year, which means the company should continue to be able to cover its $9.76 annual dividend with an expected future payout ratio of 46.6%.

Snap-On Stock Performance

Shares of SNA traded up $3.12 during trading hours on Friday, hitting $386.52. The stock had a trading volume of 15,302 shares, compared to its average volume of 381,332. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.53. The firm has a 50-day moving average price of $374.37 and a 200 day moving average price of $360.04. Snap-On has a fifty-two week low of $301.82 and a fifty-two week high of $400.88. The firm has a market capitalization of $20.02 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 2.66 and a beta of 0.77.

Snap-On (NYSE:SNA) last posted its earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.06). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.51 earnings per share. As a group, research analysts anticipate that Snap-On will post 19.75 EPS for the current year.

Insider Activity

In other news, CFO Aldo John Pagliari sold 7,043 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the transaction, the chief financial officer owned 117,183 shares of the company’s stock, valued at approximately $44,769,765.15. The trade was a 5.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Timothy L. Chambers sold 8,000 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $385.13, for a total transaction of $3,081,040.00. Following the transaction, the senior vice president directly owned 19,480 shares in the company, valued at approximately $7,502,332.40. The trade was a 29.11% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 39,650 shares of company stock worth $15,210,959. 3.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Snap-On by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 6,525,488 shares of the company’s stock valued at $2,248,683,000 after buying an additional 31,073 shares during the last quarter. State Street Corp lifted its position in shares of Snap-On by 1.3% during the fourth quarter. State Street Corp now owns 2,272,041 shares of the company’s stock worth $782,945,000 after purchasing an additional 28,071 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Snap-On by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,011,914 shares of the company’s stock worth $693,306,000 after purchasing an additional 39,765 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Snap-On by 2.7% during the fourth quarter. First Trust Advisors LP now owns 1,967,608 shares of the company’s stock worth $678,038,000 after purchasing an additional 51,037 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Snap-On by 4.1% during the fourth quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company’s stock worth $454,206,000 after purchasing an additional 51,486 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

About Snap-On

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.