Snap-On Inc. (SNA) to Issue Quarterly Dividend of $0.71 on December 9th
Snap-On Inc. (NYSE:SNA) announced a quarterly dividend on Thursday, November 3rd. Shareholders of record on Friday, November 18th will be given a dividend of 0.71 per share on Friday, December 9th. This represents a $2.84 annualized dividend and a yield of 1.70%. The ex-dividend date is Wednesday, November 16th. This is a positive change from Snap-On’s previous quarterly dividend of $0.61.
Shares of Snap-On (NYSE:SNA) opened at 166.64 on Friday. The stock has a market cap of $9.67 billion, a P/E ratio of 18.60 and a beta of 1.08. Snap-On has a 1-year low of $133.09 and a 1-year high of $174.52. The firm’s 50-day moving average price is $152.85 and its 200 day moving average price is $155.73.
Snap-On (NYSE:SNA) last issued its earnings results on Thursday, October 20th. The company reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.07. Snap-On had a net margin of 15.67% and a return on equity of 20.73%. The business had revenue of $834.10 million for the quarter, compared to analyst estimates of $709.70 million. During the same period in the previous year, the business earned $1.98 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. On average, equities analysts expect that Snap-On will post $9.14 earnings per share for the current fiscal year.
In other Snap-On news, SVP Thomas L. Kassouf sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $153.29, for a total value of $306,580.00. Following the completion of the transaction, the senior vice president now directly owns 26,612 shares of the company’s stock, valued at $4,079,353.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Thomas J. Ward sold 42,000 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $151.60, for a total transaction of $6,367,200.00. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Banced Corp increased its position in shares of Snap-On by 17.0% in the second quarter. Banced Corp now owns 2,028 shares of the company’s stock worth $306,000 after buying an additional 295 shares in the last quarter. BlackRock Investment Management LLC increased its position in shares of Snap-On by 3.2% in the second quarter. BlackRock Investment Management LLC now owns 127,788 shares of the company’s stock worth $20,168,000 after buying an additional 3,959 shares in the last quarter. BlackRock Inc. increased its position in shares of Snap-On by 156.1% in the second quarter. BlackRock Inc. now owns 258,600 shares of the company’s stock worth $40,811,000 after buying an additional 157,641 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Snap-On by 1.1% in the second quarter. BlackRock Fund Advisors now owns 918,846 shares of the company’s stock worth $145,012,000 after buying an additional 10,200 shares in the last quarter. Finally, BlackRock Group LTD increased its position in shares of Snap-On by 19.3% in the second quarter. BlackRock Group LTD now owns 557,878 shares of the company’s stock worth $88,046,000 after buying an additional 90,424 shares in the last quarter. 84.22% of the stock is owned by institutional investors.
Separately, Zacks Investment Research downgraded shares of Snap-On from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $176.47.
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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