Alps Advisors Inc. Has $404,000 Position in Snap-On Inc. (SNA)
Alps Advisors Inc. lowered its stake in Snap-On Inc. (NYSE:SNA) by 7.0% during the second quarter, Holdings Channel reports. The fund owned 2,561 shares of the company’s stock after selling 192 shares during the period. Alps Advisors Inc.’s holdings in Snap-On were worth $404,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently modified their holdings of the company. Integrated Investment Consultants LLC raised its position in shares of Snap-On by 0.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,449 shares of the company’s stock valued at $387,000 after buying an additional 7 shares during the last quarter. Eqis Capital Management Inc. raised its position in shares of Snap-On by 0.3% in the second quarter. Eqis Capital Management Inc. now owns 5,547 shares of the company’s stock valued at $875,000 after buying an additional 14 shares during the last quarter. IBM Retirement Fund raised its position in shares of Snap-On by 0.5% in the second quarter. IBM Retirement Fund now owns 6,853 shares of the company’s stock valued at $1,129,000 after buying an additional 31 shares during the last quarter. Chesley Taft & Associates LLC raised its position in shares of Snap-On by 0.9% in the second quarter. Chesley Taft & Associates LLC now owns 8,820 shares of the company’s stock valued at $1,392,000 after buying an additional 75 shares during the last quarter. Finally, Oakbrook Investments LLC raised its position in shares of Snap-On by 4.0% in the second quarter. Oakbrook Investments LLC now owns 3,245 shares of the company’s stock valued at $512,000 after buying an additional 125 shares during the last quarter. 84.72% of the stock is currently owned by institutional investors.
Shares of Snap-On Inc. (NYSE:SNA) traded down 1.71% during midday trading on Friday, reaching $150.29. 516,404 shares of the company were exchanged. The company’s 50-day moving average price is $151.43 and its 200 day moving average price is $156.49. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 17.23 and a beta of 1.23. Snap-On Inc. has a 52-week low of $133.09 and a 52-week high of $174.52.
Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, July 21st. The company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.13. Snap-On had a net margin of 15.28% and a return on equity of 20.78%. The firm had revenue of $872.30 million for the quarter, compared to analyst estimates of $876.70 million. During the same quarter in the previous year, the business posted $2.03 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts predict that Snap-On Inc. will post $9.09 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were issued a $0.61 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $2.44 dividend on an annualized basis and a yield of 1.62%. Snap-On’s dividend payout ratio is currently 27.98%.
Several equities analysts have issued reports on the company. Robert W. Baird reaffirmed a “buy” rating on shares of Snap-On in a report on Tuesday, June 28th. CL King initiated coverage on shares of Snap-On in a research note on Monday, June 27th. They set a “buy” rating and a $174.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Snap-On from a “hold” rating to a “buy” rating and set a $172.00 target price for the company in a research note on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Snap-On currently has an average rating of “Buy” and an average target price of $175.07.
In other Snap-On news, VP Iain Boyd sold 3,500 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $157.97, for a total value of $552,895.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Thomas L. Kassouf sold 2,000 shares of the business’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $153.29, for a total transaction of $306,580.00. Following the completion of the transaction, the senior vice president now owns 26,612 shares in the company, valued at approximately $4,079,353.48. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.
Snap-On Company Profile
Snap-On Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users. The Company’s segments include Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group and Financial Services. Its Commercial & Industrial Group segment consists of business operations serving a range of industrial and commercial customers across the world.
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