Snap-On Incorporated (SNA) Shares Bought by Candriam Luxembourg S.C.A.
Candriam Luxembourg S.C.A. increased its position in shares of Snap-On Incorporated (NYSE:SNA) by 26.5% during the second quarter, Holdings Channel reports. The fund owned 3,435 shares of the company’s stock after buying an additional 719 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Snap-On were worth $543,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. TrimTabs Asset Management LLC raised its stake in shares of Snap-On by 88.4% in the first quarter. TrimTabs Asset Management LLC now owns 665 shares of the company’s stock worth $112,000 after buying an additional 312 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Snap-On by 7.5% in the first quarter. Van ECK Associates Corp now owns 845 shares of the company’s stock worth $143,000 after buying an additional 59 shares during the last quarter. IHT Wealth Management LLC raised its stake in shares of Snap-On by 13.8% in the first quarter. IHT Wealth Management LLC now owns 983 shares of the company’s stock worth $160,000 after buying an additional 119 shares during the last quarter. Global X Management Co. LLC raised its stake in shares of Snap-On by 28.7% in the first quarter. Global X Management Co. LLC now owns 1,064 shares of the company’s stock worth $179,000 after buying an additional 237 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Snap-On by 2.9% in the first quarter. Pacer Advisors Inc. now owns 1,185 shares of the company’s stock worth $200,000 after buying an additional 33 shares during the last quarter. Institutional investors own 93.32% of the company’s stock.
Shares of Snap-On Incorporated (NYSE SNA) opened at 151.52 on Wednesday. Snap-On Incorporated has a one year low of $145.17 and a one year high of $181.73. The company’s 50-day moving average is $154.04 and its 200-day moving average is $163.65. The company has a market cap of $8.73 billion, a price-to-earnings ratio of 15.69 and a beta of 1.05.
Snap-On (NYSE:SNA) last announced its earnings results on Thursday, July 20th. The company reported $2.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.55 by $0.05. The company had revenue of $921.40 million during the quarter, compared to analyst estimates of $920.87 million. Snap-On had a net margin of 16.22% and a return on equity of 20.90%. Snap-On’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.36 earnings per share. On average, equities analysts predict that Snap-On Incorporated will post $10.09 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 18th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.87%. The ex-dividend date is Wednesday, August 16th. Snap-On’s dividend payout ratio (DPR) is presently 29.34%.
Snap-On announced that its Board of Directors has initiated a stock buyback program on Monday, August 7th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.
A number of equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of Snap-On from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Robert W. Baird reiterated an “outperform” rating and set a $197.00 price objective on shares of Snap-On in a report on Wednesday, August 2nd. FBR & Co reiterated an “outperform” rating and set a $205.00 price objective on shares of Snap-On in a report on Tuesday, July 11th. Jefferies Group LLC reiterated a “hold” rating and set a $175.00 price objective on shares of Snap-On in a report on Wednesday, May 31st. Finally, Zacks Investment Research lowered shares of Snap-On from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $197.86.
In other Snap-On news, Director Ruth Ann M. Gillis purchased 265 shares of Snap-On stock in a transaction dated Friday, August 4th. The shares were acquired at an average price of $152.58 per share, with a total value of $40,433.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Iain Boyd sold 18,418 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $147.54, for a total transaction of $2,717,391.72. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.
Snap-On Company Profile
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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