Burford Brothers Inc. Makes New Investment in Snap-On Incorporated $SNA

Key Points

• Burford Brothers Inc. acquired 1,630 shares of Snap-On Incorporated (NYSE:SNA), valued at approximately $507,000, during the 2nd quarter.
• Snap-On recently declared a quarterly dividend of $2.14 per share, representing an annual yield of 2.5%.
• The company's latest earnings report showed earnings per share of $4.71, surpassing estimates by $0.12, with a net margin of 21.08% and quarterly revenue up 3.8% year-over-year.

Burford Brothers Inc. acquired a new position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,630 shares of the company's stock, valued at approximately $507,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Horizon Investments LLC raised its holdings in Snap-On by 4.3% during the 1st quarter. Horizon Investments LLC now owns 775 shares of the company's stock worth $261,000 after buying an additional 32 shares during the period. Forvis Mazars Wealth Advisors LLC increased its holdings in shares of Snap-On by 0.7% in the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company's stock valued at $1,553,000 after purchasing an additional 32 shares during the period. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Snap-On by 5.2% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company's stock valued at $234,000 after purchasing an additional 34 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Snap-On by 28.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 159 shares of the company's stock valued at $49,000 after purchasing an additional 35 shares during the period. Finally, Canandaigua National Trust Co of Florida increased its holdings in shares of Snap-On by 5.4% in the 1st quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company's stock valued at $241,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Snap-On Trading Down 1.3%

Shares of SNA stock opened at $339.61 on Friday. The firm has a fifty day moving average of $332.77 and a 200-day moving average of $323.71. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.42 and a current ratio of 4.40. Snap-On Incorporated has a 52-week low of $289.81 and a 52-week high of $373.89. The stock has a market cap of $17.71 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 2.36 and a beta of 0.78.

Snap-On (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the firm earned $4.70 EPS. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Tuesday, August 19th. Snap-On's dividend payout ratio (DPR) is currently 44.89%.

Insider Buying and Selling

In other Snap-On news, CFO Aldo John Pagliari sold 125 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $325.21, for a total transaction of $40,651.25. Following the sale, the chief financial officer directly owned 111,721 shares in the company, valued at approximately $36,332,786.41. This trade represents a 0.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the sale, the chief executive officer owned 815,219 shares in the company, valued at $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,898 shares of company stock worth $8,983,203 over the last quarter. 3.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Bank of America upped their target price on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a report on Friday, July 18th. Tigress Financial increased their price target on Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a report on Friday, August 29th. Robert W. Baird boosted their price objective on shares of Snap-On from $355.00 to $365.00 and gave the stock a "neutral" rating in a research note on Friday. Weiss Ratings restated a "buy (b)" rating on shares of Snap-On in a research note on Wednesday, October 8th. Finally, Roth Capital restated a "buy" rating and issued a $385.00 price objective on shares of Snap-On in a research note on Friday. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $363.57.

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.

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