AlphaQuest LLC Has $2.71 Million Stock Holdings in Snap-On Incorporated $SNA

Key Points

• AlphaQuest LLC increased its Snap-On stake by 212.4% in the fourth quarter, ending with 7,869 shares valued at about $2.71 million.
• Snap-On reported quarterly EPS of $4.69, slightly below estimates, while revenue of $1.21 billion topped expectations and rose 5.8% year over year.
• The company announced a quarterly dividend of $2.44 per share and approved a $500 million share repurchase program, signaling continued capital returns to shareholders.

AlphaQuest LLC raised its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 212.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,869 shares of the company's stock after acquiring an additional 5,350 shares during the period. AlphaQuest LLC's holdings in Snap-On were worth $2,712,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Kennebec Savings Bank increased its stake in shares of Snap-On by 3.6% in the 4th quarter. Kennebec Savings Bank now owns 783 shares of the company's stock valued at $270,000 after purchasing an additional 27 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Snap-On by 36.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company's stock valued at $36,000 after purchasing an additional 28 shares during the last quarter. CWM LLC grew its position in Snap-On by 0.6% during the 4th quarter. CWM LLC now owns 5,517 shares of the company's stock worth $1,901,000 after acquiring an additional 31 shares during the last quarter. Ritholtz Wealth Management grew its position in Snap-On by 2.5% during the 4th quarter. Ritholtz Wealth Management now owns 1,401 shares of the company's stock worth $483,000 after acquiring an additional 34 shares during the last quarter. Finally, MFA Wealth Services grew its position in Snap-On by 2.9% during the 3rd quarter. MFA Wealth Services now owns 1,236 shares of the company's stock worth $428,000 after acquiring an additional 35 shares during the last quarter. Institutional investors own 84.88% of the company's stock.

Snap-On Stock Up 1.6%

Shares of NYSE:SNA opened at $372.68 on Wednesday. The company has a market capitalization of $19.30 billion, a price-to-earnings ratio of 19.24, a P/E/G ratio of 2.58 and a beta of 0.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. The business's 50-day moving average is $370.90 and its 200-day moving average is $363.51. Snap-On Incorporated has a 1 year low of $301.82 and a 1 year high of $400.88.

Snap-On (NYSE:SNA - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.75 by ($0.06). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.51 earnings per share. Equities research analysts predict that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be paid a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, May 20th. Snap-On's dividend payout ratio is 50.39%.

Snap-On announced that its Board of Directors has approved a share repurchase program on Thursday, April 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 2.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SNA. Roth Mkm restated a "buy" rating and set a $431.00 price objective on shares of Snap-On in a research report on Friday, April 24th. Weiss Ratings restated a "buy (b)" rating on shares of Snap-On in a research report on Monday, April 20th. Wall Street Zen lowered Snap-On from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. Tigress Financial boosted their price objective on Snap-On from $405.00 to $445.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Finally, Robert W. Baird upped their price target on Snap-On from $380.00 to $395.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Snap-On has a consensus rating of "Moderate Buy" and an average price target of $381.20.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 5,713 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the transaction, the chief financial officer directly owned 119,488 shares of the company's stock, valued at approximately $43,874,798.72. This represents a 4.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total value of $8,791,514.92. Following the transaction, the chief executive officer directly owned 856,918 shares in the company, valued at approximately $322,004,076.86. This trade represents a 2.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.80% of the stock is currently owned by corporate insiders.

Snap-On Profile

Snap‑On Incorporated NYSE: SNA is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company's product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.

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