Qsemble Capital Management LP Invests $494,000 in Snap-on Incorporated (NYSE:SNA)

Qsemble Capital Management LP purchased a new position in shares of Snap-on Incorporated (NYSE:SNA) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,705 shares of the company’s stock, valued at approximately $494,000.

Several other institutional investors have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its holdings in Snap-on by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,792 shares of the company’s stock worth $500,848,000 after buying an additional 56,266 shares in the last quarter. Earnest Partners LLC grew its holdings in Snap-on by 1.4% during the second quarter. Earnest Partners LLC now owns 942,743 shares of the company’s stock worth $246,424,000 after buying an additional 13,033 shares in the last quarter. Pacer Advisors Inc. grew its stake in Snap-on by 9.4% in the 3rd quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock valued at $262,957,000 after purchasing an additional 78,184 shares during the period. Dimensional Fund Advisors LP grew its stake in Snap-on by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 817,536 shares of the company’s stock valued at $213,686,000 after purchasing an additional 65,485 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in Snap-on by 0.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 732,571 shares of the company’s stock valued at $191,487,000 after purchasing an additional 2,616 shares during the period. Institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling

In related news, VP Richard Thomas Miller sold 1,750 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $330.00, for a total transaction of $577,500.00. Following the sale, the vice president now owns 3,218 shares of the company’s stock, valued at approximately $1,061,940. This represents a 35.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Thomas J. Ward sold 12,737 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $333.21, for a total value of $4,244,095.77. Following the sale, the senior vice president now directly owns 55,401 shares in the company, valued at $18,460,167.21. This trade represents a 18.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,531 shares of company stock valued at $6,628,691. Corporate insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on SNA shares. Roth Mkm upped their price objective on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Bank of America upped their price objective on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Robert W. Baird upped their price objective on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Barrington Research upped their price objective on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Tigress Financial upped their price objective on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $345.40.

Snap-on Stock Down 0.6 %

SNA stock opened at $369.23 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The company has a market capitalization of $19.39 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 2.45 and a beta of 0.96. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89. The stock has a fifty day moving average of $321.25 and a 200-day moving average of $289.52.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.12. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. As a group, equities research analysts predict that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on announced that its board has authorized a stock repurchase plan on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be issued a dividend of $2.14 per share. This is a boost from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a yield of 2.32%. Snap-on’s dividend payout ratio is 44.06%.

About Snap-on

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.