Focused Alpha LLC Acquires New Stake in Snap-On Incorporated $SNA

Focused Alpha LLC bought a new position in shares of Snap-On Incorporated (NYSE:SNA) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 1,441 shares of the company’s stock, valued at approximately $580,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. DV Equities LLC purchased a new position in shares of Snap-On during the fourth quarter worth about $25,000. Western Wealth Management LLC purchased a new stake in Snap-On in the first quarter valued at approximately $29,000. Montag A & Associates Inc. raised its stake in Snap-On by 331.8% in the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after purchasing an additional 73 shares in the last quarter. Quattro Advisors LLC bought a new stake in Snap-On during the fourth quarter valued at approximately $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its position in Snap-On by 36.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after purchasing an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Stock Down 0.5%

Shares of NYSE SNA opened at $401.56 on Tuesday. Snap-On Incorporated has a one year low of $319.20 and a one year high of $423.02. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.43 and a quick ratio of 2.64. The firm’s 50 day simple moving average is $402.57 and its two-hundred day simple moving average is $383.95. The stock has a market capitalization of $20.77 billion, a P/E ratio of 20.48, a PEG ratio of 2.84 and a beta of 0.73.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, topping the consensus estimate of $4.95 by $0.01. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $4.72 earnings per share. As a group, analysts expect that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, August 19th. Snap-On’s dividend payout ratio (DPR) is presently 49.77%.

Snap-On declared that its board has initiated a stock repurchase program on Thursday, April 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SNA. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Friday, July 17th. Roth Capital reaffirmed a “buy” rating and set a $461.00 price objective (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Tigress Financial upped their target price on shares of Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Barclays initiated coverage on Snap-On in a research note on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price on the stock. Finally, Robert W. Baird set a $415.00 price target on Snap-On in a research report on Friday, July 24th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Snap-On has an average rating of “Moderate Buy” and a consensus price target of $426.20.

Insider Buying and Selling at Snap-On

In other Snap-On news, SVP Jesus Arregui sold 4,251 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $383.92, for a total value of $1,632,043.92. Following the completion of the sale, the senior vice president directly owned 4,439 shares of the company’s stock, valued at $1,704,220.88. The trade was a 48.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Timothy L. Chambers sold 9,111 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $419.36, for a total transaction of $3,820,788.96. Following the sale, the senior vice president owned 21,223 shares of the company’s stock, valued at approximately $8,900,077.28. The trade was a 30.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 23,039 shares of company stock valued at $9,334,505. Company insiders own 3.80% of the company’s stock.

Snap-On Profile

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.