American Century Companies Inc. decreased its stake in Snap-On Incorporated (NYSE:SNA) by 22.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 548,036 shares of the company’s stock after selling 159,760 shares during the period. American Century Companies Inc. owned 0.95% of Snap-On worth $86,590,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Macquarie Group Ltd. increased its stake in Snap-On by 140.0% in the fourth quarter. Macquarie Group Ltd. now owns 2,400 shares of the company’s stock valued at $411,000 after buying an additional 1,400 shares during the period. State of Alaska Department of Revenue purchased a new stake in Snap-On during the first quarter valued at $250,000. Retirement Systems of Alabama increased its stake in Snap-On by 1.9% in the first quarter. Retirement Systems of Alabama now owns 28,022 shares of the company’s stock valued at $4,726,000 after buying an additional 521 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in Snap-On by 4.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,547 shares of the company’s stock valued at $244,000 after buying an additional 71 shares during the last quarter. Finally, Korea Investment CORP increased its stake in Snap-On by 80,658.0% in the first quarter. Korea Investment CORP now owns 55,723 shares of the company’s stock valued at $9,399,000 after buying an additional 55,654 shares during the last quarter. Institutional investors and hedge funds own 93.74% of the company’s stock.

Snap-On Incorporated (NYSE:SNA) opened at 144.91 on Monday. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of 15.00 and a beta of 1.05. Snap-On Incorporated has a 1-year low of $140.83 and a 1-year high of $181.73. The firm has a 50-day moving average price of $151.58 and a 200 day moving average price of $162.12.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 20th. The company reported $2.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $920.87 million. During the same quarter in the prior year, the firm posted $2.36 earnings per share. Snap-On’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities research analysts anticipate that Snap-On Incorporated will post $10.09 EPS for the current fiscal year.

Snap-On announced that its Board of Directors has initiated a stock buyback plan on Monday, August 7th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 18th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.96%. The ex-dividend date is Wednesday, August 16th. Snap-On’s payout ratio is currently 29.34%.

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SNA has been the subject of several recent research reports. Zacks Investment Research upgraded Snap-On from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. BidaskClub downgraded Snap-On from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Longbow Research downgraded Snap-On from a “buy” rating to a “neutral” rating in a report on Monday, August 21st. Jefferies Group LLC restated a “hold” rating and issued a $175.00 price objective on shares of Snap-On in a report on Thursday, July 6th. Finally, FBR & Co restated an “outperform” rating and issued a $205.00 price objective on shares of Snap-On in a report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $197.86.

In other news, Director Ruth Ann M. Gillis acquired 265 shares of the business’s stock in a transaction on Friday, August 4th. The shares were purchased at an average price of $152.58 per share, for a total transaction of $40,433.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Iain Boyd sold 18,418 shares of the company’s stock in a transaction that occurred 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. Corporate insiders own 3.70% of the company’s stock.

About Snap-On

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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Institutional Ownership by Quarter for Snap-On (NYSE:SNA)

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