Denali Advisors LLC Invests $1 Million in Snap-On Incorporated $SNA

Key Points

• Denali Advisors opened a new position in Snap-On during the fourth quarter, buying 2,906 shares worth about $1.0 million.
• Snap-On reported quarterly EPS of $4.69, slightly below estimates, while revenue came in at $1.21 billion, topping expectations and rising 5.8% year over year.
• The company announced a quarterly dividend of $2.44 per share and a new $500 million share repurchase program, signaling continued capital returns to shareholders.

Denali Advisors LLC bought a new position in Snap-On Incorporated (NYSE:SNA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,906 shares of the company's stock, valued at approximately $1,001,000.

Other large investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Snap-On during the fourth quarter worth approximately $25,000. GoalVest Advisory LLC bought a new stake in Snap-On during the fourth quarter worth approximately $28,000. Montag A & Associates Inc. increased its stake in Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company's stock worth $33,000 after acquiring an additional 73 shares during the last quarter. Quent Capital LLC bought a new stake in Snap-On during the third quarter worth approximately $36,000. Finally, United Community Bank bought a new stake in Snap-On during the fourth quarter worth approximately $43,000. 84.88% of the stock is owned by institutional investors.

Snap-On Stock Up 0.8%

Shares of NYSE:SNA opened at $373.59 on Friday. Snap-On Incorporated has a 1 year low of $301.82 and a 1 year high of $400.88. The business has a 50 day simple moving average of $373.96 and a two-hundred day simple moving average of $361.25. The firm has a market capitalization of $19.35 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 2.62 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.

Snap-On (NYSE:SNA - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $1.21 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.51 EPS. On average, equities analysts predict that Snap-On Incorporated will post 19.75 EPS 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 issued a $2.44 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.6%. Snap-On's payout ratio is presently 50.39%.

Snap-On announced that its Board of Directors has initiated a share repurchase plan on Thursday, April 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SNA shares. 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 target price on Snap-On from $405.00 to $445.00 and gave the company a "buy" rating in a research report on Friday, February 27th. Robert W. Baird boosted their target price on Snap-On from $380.00 to $395.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Roth Mkm restated a "buy" rating and set a $431.00 target price on shares of Snap-On in a research report on Friday, April 24th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Snap-On in a research report on Monday, April 20th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $381.20.

Insider Activity at Snap-On

In related news, CFO Aldo John Pagliari sold 7,043 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $382.05, for a total value of $2,690,778.15. Following the completion of the sale, the chief financial officer owned 117,183 shares in the company, valued at approximately $44,769,765.15. The trade was a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP June C. Lemerand sold 1,378 shares of the business's stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total value of $534,071.46. Following the completion of the sale, the vice president owned 2,913 shares of the company's stock, valued at $1,128,991.41. The trade was a 32.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 55,046 shares of company stock worth $20,921,434. Company insiders own 3.80% of the company's stock.

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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