Snap-On Incorporated (NYSE:SNA) Stake Increased by Alpine Woods Capital Investors LLC
Alpine Woods Capital Investors LLC boosted its position in Snap-On Incorporated (NYSE:SNA) by 0.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 121,450 shares of the company’s stock after buying an additional 850 shares during the period. Snap-On accounts for about 1.0% of Alpine Woods Capital Investors LLC’s investment portfolio, making the stock its 13th largest position. Alpine Woods Capital Investors LLC’s holdings in Snap-On were worth $19,189,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. TrimTabs Asset Management LLC boosted its stake in 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. Morgan Dempsey Capital Management LLC boosted its stake in Snap-On by 63.7% in the second quarter. Morgan Dempsey Capital Management LLC now owns 676 shares of the company’s stock worth $107,000 after buying an additional 263 shares during the last quarter. Van ECK Associates Corp boosted its stake in 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 boosted its stake in 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. Finally, Global X Management Co. LLC boosted its stake in 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. Institutional investors own 92.25% of the company’s stock.
Shares of Snap-On Incorporated (NYSE SNA) opened at 152.46 on Friday. Snap-On Incorporated has a 52-week low of $145.17 and a 52-week high of $181.73. The company has a market cap of $8.78 billion, a PE ratio of 15.78 and a beta of 1.05. The stock’s 50 day moving average is $154.18 and its 200 day moving average is $164.25.
Snap-On (NYSE:SNA) last announced its earnings results on Thursday, July 20th. The company reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.05. Snap-On had a return on equity of 20.90% and a net margin of 16.22%. The firm had revenue of $921.40 million for the quarter, compared to analyst estimates of $920.87 million. During the same quarter last year, the firm posted $2.36 EPS. The business’s revenue was up 5.6% on a year-over-year basis. Equities analysts forecast that Snap-On Incorporated will post $10.09 EPS for the current year.
Snap-On declared that its board has approved a stock buyback plan on Monday, August 7th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 18th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.86%. Snap-On’s dividend payout ratio (DPR) is 29.34%.
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A number of equities research analysts have commented on the stock. Robert W. Baird restated an “outperform” rating and set a $197.00 target price on shares of Snap-On in a research note on Wednesday, August 2nd. BidaskClub upgraded shares of Snap-On from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. FBR & Co reiterated an “outperform” rating and set a $205.00 price objective on shares of Snap-On in a research 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 research report on Wednesday, May 31st. Finally, Zacks Investment Research cut shares of Snap-On from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $197.86.
In other news, Director Ruth Ann M. Gillis acquired 265 shares of Snap-On stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average cost of $152.58 per share, with a total value of $40,433.70. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Iain Boyd sold 18,418 shares of the stock in a transaction on Monday, July 24th. The shares were sold at an average price of $147.54, for a total value 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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