Snap-On Incorporated (SNA) Holdings Boosted by Capital Fund Management S.A.
Capital Fund Management S.A. raised its position in Snap-On Incorporated (NYSE:SNA) by 158.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,494 shares of the company’s stock after buying an additional 13,802 shares during the period. Capital Fund Management S.A.’s holdings in Snap-On were worth $3,554,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Bfsg LLC acquired a new position in Snap-On in the second quarter valued at about $1,413,000. Aberdeen Asset Management PLC UK boosted its position in Snap-On by 59.8% in the second quarter. Aberdeen Asset Management PLC UK now owns 104,614 shares of the company’s stock valued at $16,529,000 after buying an additional 39,132 shares in the last quarter. HPM Partners LLC acquired a new position in Snap-On in the second quarter valued at about $216,000. AXA boosted its position in Snap-On by 107.3% in the second quarter. AXA now owns 114,000 shares of the company’s stock valued at $18,012,000 after buying an additional 59,000 shares in the last quarter. Finally, Eaton Vance Management boosted its position in Snap-On by 0.3% in the second quarter. Eaton Vance Management now owns 29,472 shares of the company’s stock valued at $4,657,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 93.77% of the company’s stock.
Snap-On Incorporated (SNA) opened at 149.37 on Wednesday. The company has a market capitalization of $8.60 billion, a P/E ratio of 15.46 and a beta of 1.05. Snap-On Incorporated has a 52 week low of $140.83 and a 52 week high of $181.73. The firm has a 50 day moving average of $149.08 and a 200-day moving average of $160.18.
Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, July 20th. The company reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.05. Snap-On had a net margin of 16.22% and a return on equity of 20.90%. The company had revenue of $921.40 million for the quarter, compared to the consensus estimate of $920.87 million. During the same period last year, the company posted $2.36 EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, analysts forecast that Snap-On Incorporated will post $10.09 earnings per share for the current year.
Snap-On announced that its board has authorized a share repurchase plan on Monday, August 7th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were paid a $0.71 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.90%. Snap-On’s payout ratio is currently 29.34%.
A number of brokerages have weighed in on SNA. Robert W. Baird reaffirmed an “outperform” rating and issued a $197.00 target price on shares of Snap-On in a research note on Wednesday, August 2nd. BidaskClub raised shares of Snap-On from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $175.00 target price on shares of Snap-On in a research note on Wednesday, May 31st. FBR & Co reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Snap-On in a research note on Tuesday, July 11th. Finally, Zacks Investment Research downgraded shares of Snap-On from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $197.86.
In related news, Director Ruth Ann M. Gillis purchased 265 shares of Snap-On stock in a transaction dated Friday, August 4th. The shares were bought at an average cost of $152.58 per share, for a total transaction of $40,433.70. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, VP Iain Boyd sold 18,418 shares of the firm’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 transaction of $2,717,391.72. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.
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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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