Sanctuary Advisors LLC Acquires Shares of 44,178 Snap-on Incorporated (NYSE:SNA)

Sanctuary Advisors LLC purchased a new stake in shares of Snap-on Incorporated (NYSE:SNA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 44,178 shares of the company’s stock, valued at approximately $11,959,000.

Other large investors have also recently modified their holdings of the company. Bridgefront Capital LLC bought a new position in Snap-on during the 4th quarter worth about $1,119,000. Rockland Trust Co. purchased a new position in Snap-on during the first quarter valued at approximately $889,000. Goldman Sachs Group Inc. raised its stake in Snap-on by 11.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 271,436 shares of the company’s stock worth $78,401,000 after buying an additional 28,566 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in Snap-on during the second quarter worth $4,571,000. Finally, SG Americas Securities LLC boosted its position in Snap-on by 32.7% during the 2nd quarter. SG Americas Securities LLC now owns 13,140 shares of the company’s stock valued at $3,435,000 after acquiring an additional 3,238 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Trading Down 0.8 %

Snap-on stock opened at $288.71 on Friday. Snap-on Incorporated has a one year low of $249.84 and a one year high of $298.49. The stock has a market cap of $15.21 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 2.00 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. The stock has a 50-day moving average of $279.49 and a two-hundred day moving average of $276.37.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, July 18th. The company reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the business earned $4.89 EPS. Snap-on’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, research analysts anticipate that Snap-on Incorporated will post 18.95 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a $1.86 dividend. The ex-dividend date was Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a yield of 2.58%. Snap-on’s dividend payout ratio (DPR) is 39.03%.

Snap-on announced that its board has approved a stock repurchase program on Thursday, August 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

SNA has been the subject of a number of analyst reports. Barrington Research restated an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research note on Friday, September 20th. Roth Mkm reissued a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. Robert W. Baird lowered their price target on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Finally, Tigress Financial reiterated a “buy” rating and set a $336.00 price objective on shares of Snap-on in a research note on Thursday, July 25th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $315.00.

Insiders Place Their Bets

In other news, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total value of $1,246,804.02. Following the transaction, the chief financial officer now directly owns 99,244 shares of the company’s stock, valued at $27,663,272.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snap-on news, VP June C. Lemerand sold 1,186 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the sale, the vice president now directly owns 2,283 shares of the company’s stock, valued at $648,303.51. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 4,473 shares of Snap-on stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the transaction, the chief financial officer now owns 99,244 shares of the company’s stock, valued at approximately $27,663,272.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,804 shares of company stock valued at $8,077,390. 4.10% of the stock is owned by company insiders.

About Snap-on

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.