Denali Advisors LLC Makes New $852,000 Investment in Snap-on Incorporated (NYSE:SNA)

Denali Advisors LLC bought a new stake in Snap-on Incorporated (NYSE:SNA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,509 shares of the company’s stock, valued at approximately $852,000.

Several other hedge funds also recently modified their holdings of the stock. Aurora Investment Counsel boosted its position in Snap-on by 0.9% during the third quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock worth $1,028,000 after purchasing an additional 30 shares during the period. Greenleaf Trust lifted its stake in shares of Snap-on by 3.1% during the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock valued at $344,000 after buying an additional 30 shares in the last quarter. UMB Bank n.a. boosted its holdings in Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the period. WCM Investment Management LLC boosted its holdings in Snap-on by 4.5% in the 4th quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock worth $247,000 after buying an additional 31 shares during the period. Finally, Metis Global Partners LLC raised its holdings in Snap-on by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock valued at $490,000 after acquiring an additional 32 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-on

In other news, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the sale, the vice president now directly owns 2,289 shares of the company’s stock, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the transaction, the chief executive officer now directly owns 769,738 shares in the company, valued at approximately $273,126,134.54. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,503 shares of company stock valued at $15,906,074 in the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Snap-on Price Performance

SNA stock opened at $338.70 on Thursday. The firm has a 50 day moving average of $343.33 and a 200-day moving average of $324.96. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $17.75 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the prior year, the business posted $4.75 earnings per share. As a group, sell-side analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be paid a $2.14 dividend. The ex-dividend date is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.53%. Snap-on’s dividend payout ratio is currently 43.90%.

Analysts Set New Price Targets

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $345.40.

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.